Multi-Asset Balanced Opportunity Fund

LOBFX

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Daily price w/o sales charge as of 02/27/2020

$11.18

$0.27

YTD Returns w/o sales charge as of 02/27/2020

-4.16%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the Multi-Asset Balanced Opportunity Fund?

The Fund seeks to deliver long-term growth of capital with current monthly income by investing primarily in Lord Abbett Funds that invest in a wide variety of U.S. stocks and bonds along with select international securities.

DIVERSE ASSETS

This Fund is designed with the flexibility to invest in bonds, stocks, and currencies from around the world.

TACTICALLY MANAGED

The investment team can rapidly shift allocations based on market opportunities and to hedge unwanted exposures.

STRONG GROWTH WITH INCOME

Led by a senior Investment Committee, the Fund has delivered competitive performance and attractive income.

Yield

12-Month Dividend Yield ¹ as of 02/27/2020

w/o sales charge

2.55%

30-Day Standardized Yield ² as of 01/31/2020

2.34%

Fund Basicsas of 01/31/2020

Total Net Assets: $2.48 B
Inception Date: 04/05/2017
Dividend Frequency: Monthly
Fund Expense Ratio: 0.90%

Fund Expense Ratio :

0.90%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-0.38%	12.06%	6.38%	5.54%	7.64%	-
Lipper Category Avg. Mixed-Asset Trgt Alloc Mod Fds	-0.12%	11.65%	7.17%	5.65%	7.20%	-
Russell 1000® Index	0.11%	21.39%	14.33%	12.13%	13.97%	-

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	20.66%	20.66%	7.00%	5.41%	7.46%	-
Lipper Category Avg. Mixed-Asset Trgt Alloc Mod Fds	17.46%	17.46%	7.70%	5.55%	7.04%	-
Russell 1000® Index	31.43%	31.43%	15.05%	11.48%	13.54%	-

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Investment Team

Giulio Martini

Partner, Director of Strategic Asset Allocation

35 Years of Industry Experience

Robert A. Lee

Partner & Chief Investment Officer

29 Years of Industry Experience

Jeffrey Herzog, Ph.D.

Portfolio Manager

11 Years of Industry Experience

David B. Ritt, CFA

Portfolio Manager

22 Years of Industry Experience

Supported By 7 Investment Professionals with 29 Years Avg. Industry Experience

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Performance

12-Month Dividend Yield ¹ as of 02/27/2020

w/o sales charge

2.55%

30-Day Standardized Yield ² as of 01/31/2020

	Subsidized⁵	Un-Subsidized⁶
w/o sales charge	2.34%	2.34%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.90%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-0.38%	12.06%	6.38%	5.54%	7.64%	-
Lipper Category Avg. Mixed-Asset Trgt Alloc Mod Fds	-0.12%	11.65%	7.17%	5.65%	7.20%	-
Russell 1000® Index	0.11%	21.39%	14.33%	12.13%	13.97%	-

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	20.66%	20.66%	7.00%	5.41%	7.46%	-
Lipper Category Avg. Mixed-Asset Trgt Alloc Mod Fds	17.46%	17.46%	7.70%	5.55%	7.04%	-
Russell 1000® Index	31.43%	31.43%	15.05%	11.48%	13.54%	-

Fund Expense Ratio :

0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

Year	Fund Returns	Russell 1000® Index

2019	20.66%	31.43%
2018	-8.43%	-4.78%
2017	10.88%	21.69%
2016	11.78%	12.05%
2015	-4.96%	0.92%
2014	6.30%	13.24%
2013	18.45%	33.11%
2012	15.11%	16.42%
2011	-3.06%	1.50%
2010	12.27%	16.10%
2009	32.55%	-
2008	-28.23%	-
2007	6.26%	-
2006	-	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2020	-	-	-	-	-4.16%
2019	11.15%	3.01%	-0.36%	5.77%	20.66%
2018	-0.70%	0.21%	4.09%	-11.59%	-8.43%
2017	3.37%	1.61%	2.32%	3.16%	10.88%
2016	0.56%	2.89%	4.64%	3.24%	11.78%
2015	2.09%	-0.44%	-7.64%	1.23%	-4.96%
2014	2.83%	4.09%	-2.56%	1.91%	6.30%
2013	6.83%	0.32%	4.75%	5.51%	18.45%
2012	9.57%	-3.68%	5.41%	3.47%	15.11%
2011	4.55%	0.07%	-14.20%	7.99%	-3.06%
2010	4.06%	-8.58%	9.93%	7.35%	12.27%
2009	-5.00%	15.90%	15.38%	4.33%	32.55%
2008	-6.36%	-1.37%	-8.06%	-15.48%	-28.23%
2007	1.58%	3.49%	2.52%	-1.41%	6.26%
2006	-	-	-	4.22%	-

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Portfolio Positioning as of 12/31/2019

Risk assets rose across the board, with the S&P 500 rising 9.07% and bonds rallying during the quarter as well. The Fed cut its benchmark interest rate in October to a target range of 1.5%-1.75%, subsequently leaving the range unchanged in December and indicating that no action is likely next year amid persistently low inflation. In addition to the Fed’s continued accommodative stance, trade tensions subsided dramatically after U.S. President Donald Trump announced a “phase one” trade deal with China, set to be signed sometime in January. Finally, U.K. Prime Minister Boris Johnson’s Conservative Party won a commanding majority in the country’s general election, granting Johnson the power to drive through his Brexit deal and take the U.K. out of the EU before the January 31 deadline.
The broad general U.S. bond market, as measured by the Bloomberg Barclays Aggregate Bond Index, was positive for the quarter. High yield corporate bonds experienced positive returns for the quarter, returning 2.61%, with modest spread compression. Higher-quality tiers of the high yield market outperformed during most of the period before a sharp rally occurred in the “CCC” segment in December.
In today’s environment in which there has been a bias towards perceived safety, we believe there is more opportunity in risk assets. The investment climate remains favorable for harvesting carry, where bank loans and high yield bonds are attractive options.
We increased the portfolio’s allocation towards leveraged loans, investment grade bonds, and international equities this quarter. The portfolio’s allocation to short duration bonds and U.S. equities was reduced.

Holding	Assets
Fundamental Equity Fund	16.9%
High Yield Fund	16.5%
Growth Opportunities Fund	11.9%
Mid Cap Stock Fund	10.0%
Growth Leaders Fund	8.1%
Convertible Fund	6.4%
International Equity Fund	5.0%
International Value Fund	5.0%
Core Fixed Income Fund	4.9%
Inflation Focused Fund	4.5%
Emerging Markets Bond Fund	3.6%
Floating Rate Fund	3.0%
Ultra Short Bond Fund	2.9%

The Fund invests principally in the underlying funds. The percentages shown are based on individual securities owned in one or more of the underlying funds. The Fund may also invest directly in derivatives. The Fund’s portfolio is actively managed and therefore, its percentage allocations may change from time to time. Holdings are for informational purposes only and are not a recommendation to buy, sell, or hold any security.

Holding	Assets

FX Vol Swap USD/JPY 6.975% 10/23/20	3.1%
FX Vol Swap USD/JPY 6.75% 5/14/20	3.1%
MSCI EAFE MAR20	3.1%
FX Vol Swap EUR/USD 5.95% 10/23/20	3.1%
FX Vol Swap EUR/USD 5.425% 5/14/20	3.1%
MSCI EMGMKT MAR20	1.0%
S&P500 EMINI FUT MAR20	-2.0%

Equity Sector Allocation as of 01/31/2020

Sector	Assets
Information Technology
Financials
Health Care
Consumer Discretionary
Industrials
Telecommunication Services
Consumer Staples
Energy
Utilities
Materials
Real Estate
Unclassified

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 02/27/2020: $0.015
Dividend Frequency: Monthly

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
01/30/2020	01/31/2020	01/31/2020	$0.01510	$11.62

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date	Ex-Dividend Date	Reinvest & Payable Date
02/27/2020	02/28/2020	02/28/2020
03/30/2020	03/31/2020	03/31/2020
04/29/2020	04/30/2020	04/30/2020
05/28/2020	05/29/2020	05/29/2020
06/29/2020	06/30/2020	06/30/2020
07/30/2020	07/31/2020	07/31/2020
08/27/2020	08/28/2020	08/28/2020
09/29/2020	09/30/2020	09/30/2020
10/29/2020	10/30/2020	10/30/2020
11/24/2020	11/25/2020	11/25/2020
12/29/2020	12/30/2020	12/30/2020

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/19/2019	12/20/2019	$0.1424	-	$0.1424	$11.69

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/21/2020	12/22/2020

Fees & Expenses

EXPENSE RATIOas of 01/31/2020

0.90%

Fund Documents

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	0Documents selected				Order
	Summary Prospectus Publish Date:11/03/2015
n/a	Statutory Prospectus Publish Date:11/03/2015
n/a	Prospectus (XBRL) Publish Date:11/03/2015
	SAI Publish Date:11/03/2015
	Annual Report Publish Date:11/03/2015
	Semi-Annual Report Publish Date:11/03/2015
	Fact Sheet Publish Date:11/03/2015
	Commentary Publish Date:11/03/2015
	Capital Markets Presentation Publish Date:11/03/2015
	Brochure Publish Date:11/03/2015

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12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

IMPORTANT INFORMATION

A Note about Risk: The Fund invests in underlying funds that may engage in a variety of investment strategies involving certain risks; the Fund is subject to the particular risks of an underlying fund in proportion to a respective investment. Performance of an underlying fund may be lower than the performance of the asset class it represents. The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Investments in small and/or mid-sized company stocks typically involve greater risk, particularly in the short term, than those in larger, more established companies. Investments in either growth or value stocks may shift in and out of favor for long periods of time, depending on market and economic conditions. The Fund is subject to the risks associated with fixed income securities that are generally subject to interest rate risk, credit risk, and liquidity risk. These risks are greater for high yield fixed income securities. Foreign securities may pose greater risks than domestic securities, including greater price fluctuation, less government regulation, and higher transaction costs. Foreign investments also may be affected by changes in currency rates or currency controls. Investing internationally involves risks not associated with investing solely in the United States, such as currency fluctuation, political risk, differences in accounting and the limited availability of information. In addition, the Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with investing directly in securities and other investments. These factors can affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The Russell 1000 Index® measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Gross Expense Ratio includes Management fees, Distribution and Service (12b-1) fees, Acquired Fund Fees and Expenses, and Other Expenses.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Summary

Summary

What is the Multi-Asset Balanced Opportunity Fund?

The Fund seeks to deliver long-term growth of capital with current monthly income by investing primarily in Lord Abbett Funds that invest in a wide variety of U.S. stocks and bonds along with select international securities.

DIVERSE ASSETS

TACTICALLY MANAGED

STRONG GROWTH WITH INCOME

Yield

12-Month Dividend Yield 1 as of 02/27/2020

30-Day Standardized Yield 2 as of 01/31/2020

Fund Basicsas of 01/31/2020

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

Investment Team

Contact a Representative

Performance

Performance

12-Month Dividend Yield 1 as of 02/27/2020

30-Day Standardized Yield 2 as of 01/31/2020

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

Fund Expense Ratio :

0.90%

NAV Historical Prices

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2019

Equity Sector Allocation as of 01/31/2020

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 01/31/2020

Fund Documents

Fund Documents

Coming Soon.......

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12-Month Dividend Yield ¹ as of 02/27/2020

30-Day Standardized Yield ² as of 01/31/2020

12-Month Dividend Yield ¹ as of 02/27/2020

30-Day Standardized Yield ² as of 01/31/2020