Affiliated Fund
Daily price w/o sales charge as of 09/26/2016
$15.10
$0.13
YTD Returns w/o sales charge as of 09/26/2016
8.34%
Please click here for performance current to the most recent quarter-end and month-end.
Summary
Summary
The Fund seeks to deliver long-term growth of capital and current income by investing primarily in dividend-paying stocks of large U.S. companies.
Fund Basicsas of 08/31/2016
- Total Net Assets
- $6.36 B
- Inception Date
- 05/14/1934*
- Dividend Frequency
- Quarterly
- Number of Holdings
- 131
- CUSIP
- 544001100
- Minimum Initial Investment
- $1,000+
The Fund changed its investment strategy on 01/01/1950. Performance is calculated from this date. In addition, the Fund has amended its strategy on June 11, 2013. Under the current strategy performance history of the Fund is limited.
Expense Ratioas of 08/31/2016
Yield
12-Month Dividend Yield 1 as of 09/26/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | - | 2.38% |
| w/ sales charge | - | 2.25% |
30-Day Standardized Yield 2 as of 08/31/2016
| 2.13% |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
0.74%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1950 |
|---|
| w/o sales charge | 9.70% | 12.14% | 9.77% | 12.95% | 4.63% | 10.88% |
| Lipper Category Avg. Equity Income Funds | 8.57% | 11.55% | 8.68% | 12.09% | 6.32% | - |
| Russell 1000® Value Index | 10.23% | 12.92% | 10.69% | 14.39% | 6.08% | - |
| w/ sales charge | 3.40% | 5.69% | 7.62% | 11.61% | 4.02% | 10.78% |
Fund Expense Ratio :
0.74%
Fund Expense Ratio :
0.74%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1950 |
|---|
| w/o sales charge | 5.75% | 2.21% | 9.23% | 9.30% | 4.75% | 10.85% |
| Lipper Category Avg. Equity Income Funds | 6.41% | 3.14% | 8.29% | 9.29% | 6.40% | - |
| Russell 1000® Value Index | 6.30% | 2.86% | 9.87% | 11.35% | 6.13% | - |
| w/ sales charge | -0.32% | -3.65% | 7.09% | 8.02% | 4.13% | 10.75% |
Fund Expense Ratio :
0.74%
Returns with sales charges reflect a maximum sales charge of 5.75%.
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 of future results.
The Fund changed its investment strategy on 01/01/1950. Performance is calculated from this date.
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TEN LARGEST HOLDINGS as of 08/31/2016View Portfolio
| Holding | Assets |
|---|---|
| Chevron Corp. | 3.4% |
| Pfizer, Inc. | 3.4% |
| JPMorgan Chase & Co. | 3.3% |
| Intel Corp. | 2.5% |
| QUALCOMM, Inc. | 2.1% |
| International Business Machines Corp. | 1.7% |
| United Technologies Corp. | 1.7% |
| Boeing Co. | 1.6% |
| Fifth Third Bank | 1.6% |
| Ford Motor Co. | 1.6% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Sector Allocationas of 08/31/2016View Portfolio
| Sector | Weighting |
|---|---|
| Consumer Discretionary | |
| Telecommunication Services | |
| Utilities | |
| Bonds | |
| Consumer Staples | |
| Energy | |
| Financials | |
| Health Care | |
| Industrials | |
| Information Technology | |
| Materials | |
| Real Estate |
Investment Team
Your Representative
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Performance
Performance
12-Month Dividend Yield 1 as of 09/26/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | - | 2.38% |
| w/ sales charge | - | 2.25% |
30-Day Standardized Yield 2 as of 08/31/2016
| Subsidized3 | Un-Subsidized4 | |
|---|---|---|
| w/o sales charge | 2.13% | - |
In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.
Fund Expense Ratio :
0.74%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1950 |
|---|
| w/o sales charge | 9.70% | 12.14% | 9.77% | 12.95% | 4.63% | 10.88% |
| Lipper Category Avg. Equity Income Funds | 8.57% | 11.55% | 8.68% | 12.09% | 6.32% | - |
| Russell 1000® Value Index | 10.23% | 12.92% | 10.69% | 14.39% | 6.08% | - |
| w/ sales charge | 3.40% | 5.69% | 7.62% | 11.61% | 4.02% | 10.78% |
Fund Expense Ratio :
0.74%
Fund Expense Ratio :
0.74%
| YTD | 1-YR | 3-YR | 5-YR | 10-YR | Since Inception 01/01/1950 |
|---|
| w/o sales charge | 5.75% | 2.21% | 9.23% | 9.30% | 4.75% | 10.85% |
| Lipper Category Avg. Equity Income Funds | 6.41% | 3.14% | 8.29% | 9.29% | 6.40% | - |
| Russell 1000® Value Index | 6.30% | 2.86% | 9.87% | 11.35% | 6.13% | - |
| w/ sales charge | -0.32% | -3.65% | 7.09% | 8.02% | 4.13% | 10.75% |
Fund Expense Ratio :
0.74%
Returns with sales charges reflect a maximum sales charge of 5.75%.
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 of future results.
The Fund changed its investment strategy on 01/01/1950. Performance is calculated from this date.
Best returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | 31.61 | 27.62 |
| 1-Yr | 58.32 | 56.49 |
Worst returns
| Durations | Fund Returns | Blended Index |
|---|
| 3-Mo | -27.02 | -28.88 |
| 1-Yr | -47.71 | -47.35 |
Best & Worst returns reflect a cumulative return for the three-month and one-year periods.
| Year | Fund Returns | Russell 1000® Value Index |
|---|
| 2015 | -4.20% | -3.83% |
| 2014 | 12.07% | 13.45% |
| 2013 | 32.15% | 32.53% |
| 2012 | 15.90% | 17.51% |
| 2011 | -7.84% | 0.39% |
| 2010 | 14.30% | 15.51% |
| 2009 | 19.39% | 19.69% |
| 2008 | -37.13% | -36.85% |
| 2007 | 3.66% | -0.17% |
| 2006 | 17.61% | 22.25% |
| 2005 | 3.33% | - |
| 2004 | 12.60% | - |
| 2003 | 30.89% | - |
| 2002 | -18.79% | - |
| 2001 | -7.94% | - |
| 2000 | 15.24% | - |
| 1999 | 16.88% | - |
| 1998 | 14.42% | - |
| 1997 | 25.16% | - |
| 1996 | 20.05% | - |
| Year | Q1 | Q2 | Q3 | Q4 | Yearly Returns |
|---|
| 2016 | 2.52% | 3.15% | - | - | 8.34% |
| 2015 | 0.35% | -1.23% | -7.57% | 4.57% | -4.20% |
| 2014 | 2.29% | 3.99% | -0.12% | 5.48% | 12.07% |
| 2013 | 10.88% | 3.84% | 4.49% | 9.84% | 32.15% |
| 2012 | 12.61% | -4.77% | 6.68% | 1.30% | 15.90% |
| 2011 | 5.67% | -2.77% | -20.73% | 13.17% | -7.84% |
| 2010 | 6.69% | -14.37% | 10.35% | 13.36% | 14.30% |
| 2009 | -16.43% | 18.76% | 16.22% | 3.51% | 19.39% |
| 2008 | -9.69% | -6.07% | -6.72% | -20.56% | -37.13% |
| 2007 | 0.36% | 5.10% | 1.90% | -3.56% | 3.66% |
| 2006 | 5.88% | -0.47% | 5.85% | 5.44% | 17.61% |
| 2005 | -2.61% | -0.49% | 4.22% | 2.30% | 3.33% |
| 2004 | 2.47% | 1.10% | -1.93% | 10.82% | 12.60% |
| 2003 | -5.46% | 18.25% | 2.90% | 13.78% | 30.89% |
| 2002 | 3.15% | -10.96% | -19.74% | 10.16% | -18.79% |
| 2001 | -9.47% | 5.32% | -13.97% | 12.22% | -7.94% |
| 2000 | 1.59% | -3.13% | 8.61% | 7.82% | 15.24% |
| 1999 | 2.72% | 10.79% | -6.67% | 10.04% | 16.88% |
| 1998 | 10.75% | -0.26% | -11.55% | 17.10% | 14.42% |
| 1997 | 3.05% | 13.38% | 7.12% | 0.01% | 25.16% |
| 1996 | 5.48% | 0.87% | 3.91% | 8.59% | 20.05% |
| 1995 | 8.27% | 7.30% | 6.95% | 6.00% | 31.70% |
| 1994 | -3.48% | 1.45% | 6.09% | 0.18% | 4.06% |
| 1993 | 5.46% | 0.93% | 4.26% | 2.01% | 13.21% |
| 1992 | -0.50% | 4.48% | 2.81% | 5.16% | 12.39% |
| 1991 | 9.50% | -0.41% | 6.25% | 5.29% | 22.00% |
| 1990 | -1.70% | 1.65% | -12.52% | 8.41% | -5.23% |
| 1989 | 3.79% | 6.94% | 7.96% | 3.09% | 23.53% |
| 1988 | 3.23% | 8.29% | -1.48% | 2.42% | 12.81% |
| 1987 | 16.69% | 4.94% | 5.68% | -20.26% | 3.19% |
| 1986 | 16.15% | 3.65% | -3.96% | 6.33% | 22.95% |
| 1985 | 6.25% | 8.55% | -4.81% | 15.57% | 26.87% |
| 1984 | -3.91% | -3.92% | 10.21% | 5.00% | 6.83% |
| 1983 | 9.35% | 7.44% | 3.82% | 2.91% | 25.53% |
| 1982 | -4.66% | -0.45% | 9.76% | 18.99% | 23.97% |
| 1981 | 6.42% | -1.17% | -9.99% | 5.99% | 0.33% |
| 1980 | -5.50% | 13.53% | 8.08% | 7.35% | 24.47% |
| 1979 | 11.53% | 3.31% | 10.26% | 1.83% | 29.37% |
| 1978 | -4.28% | 6.83% | 8.64% | -6.63% | 3.72% |
| 1977 | -3.89% | 3.00% | -6.81% | 1.18% | -6.66% |
| 1976 | 18.64% | 6.11% | 1.12% | 5.79% | 34.66% |
| 1975 | 23.87% | 17.67% | -7.35% | 5.02% | 41.83% |
| 1974 | 1.24% | -9.11% | -16.45% | 9.29% | -15.97% |
| 1973 | -6.88% | -7.04% | 15.23% | -5.49% | -5.73% |
| 1972 | 5.04% | -3.65% | 3.51% | 7.49% | 12.60% |
| 1971 | 9.60% | 0.10% | -2.99% | 2.40% | 8.98% |
| 1970 | -1.66% | -16.57% | 14.95% | 8.95% | 2.76% |
| 1969 | -1.74% | -6.16% | -6.47% | -1.19% | -14.78% |
| 1968 | -5.70% | 12.37% | 6.90% | 4.73% | 18.63% |
| 1967 | 12.00% | 2.18% | 7.49% | 0.65% | 23.82% |
| 1966 | -1.24% | -3.16% | -8.07% | 6.79% | -6.11% |
| 1965 | 3.16% | -3.69% | 8.46% | 4.33% | 12.44% |
| 1964 | 6.16% | 4.43% | 4.96% | 0.26% | 16.66% |
| 1963 | 7.53% | 3.71% | 3.50% | 3.17% | 19.08% |
| 1962 | -2.79% | -17.81% | 2.65% | 12.18% | -8.01% |
| 1961 | 13.99% | 0.36% | 4.14% | 5.48% | 25.66% |
| 1960 | -4.30% | 4.10% | -3.30% | 9.86% | 5.84% |
| 1959 | 4.20% | 4.46% | -2.25% | 6.11% | 12.90% |
| 1958 | 10.53% | 8.61% | 9.14% | 9.76% | 43.80% |
| 1957 | 0.87% | 3.46% | -3.62% | -0.81% | -0.23% |
| 1956 | 4.58% | 0.32% | -2.98% | 3.34% | 5.19% |
| 1955 | 3.31% | 4.21% | -0.01% | 4.48% | 12.47% |
| 1954 | 6.85% | 5.12% | 6.62% | 10.29% | 32.09% |
| 1953 | 0.59% | -4.04% | -0.66% | 6.28% | 1.91% |
| 1952 | 3.99% | 1.68% | -2.27% | 10.16% | 13.84% |
| 1951 | 4.51% | -0.89% | 2.11% | 10.89% | 17.29% |
| 1950 | - | 1.64% | 4.32% | 13.65% | 22.81% |
Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.
Growth of $10,000 as of 08/31/2016
The chart begins on the Fund's inception date of 01/01/1950.
Based on a hypothetical Class A share investment of $10,000 on 01/01/1950 without sales charge and includes the reinvestment of all distributions.
NAV HISTORICAL PRICES
| Date | Net Asset Value |
|---|
Portfolio
Portfolio
| Holding | Sector | Assets |
|---|
| Chevron Corp. | Energy | 3.4% |
| Pfizer, Inc. | Health Care | 3.4% |
| JPMorgan Chase & Co. | Financials | 3.3% |
| Intel Corp. | Information Technology | 2.5% |
| QUALCOMM, Inc. | Information Technology | 2.1% |
| International Business Machines Corp. | Information Technology | 1.7% |
| United Technologies Corp. | Industrials | 1.7% |
| Boeing Co. | Industrials | 1.6% |
| Fifth Third Bank | Financials | 1.6% |
| Ford Motor Co. | Consumer Discretionary | 1.6% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
| Holding | Sector | Assets |
|---|
| Pfizer, Inc. | Health Care | 3.5% |
| Chevron Corp. | Energy | 3.4% |
| JPMorgan Chase & Co. | Financials | 3.2% |
| Intel Corp. | Information Technology | 2.4% |
| QUALCOMM, Inc. | Information Technology | 2.1% |
| International Business Machines Corp. | Information Technology | 1.7% |
| Boeing Co. | Industrials | 1.7% |
| United Technologies Corp. | Industrials | 1.7% |
| Ford Motor Co. | Consumer Discretionary | 1.6% |
| AT&T, Inc. | Telecommunication Services | 1.6% |
| Reynolds American, Inc. | Consumer Staples | 1.6% |
| Fifth Third Bank | Financials | 1.5% |
| Prudential Financial, Inc. | Financials | 1.5% |
| Johnson & Johnson, Inc. | Health Care | 1.5% |
| Verizon Communications, Inc. | Telecommunication Services | 1.4% |
| Apple, Inc. | Information Technology | 1.3% |
| Whirlpool Corp. | Consumer Discretionary | 1.3% |
| Medtronic, Inc. | Health Care | 1.3% |
| Kimberly-Clark Corp. | Consumer Staples | 1.3% |
| International Paper Co. | Materials | 1.2% |
| Wal-Mart Stores, Inc. | Consumer Staples | 1.2% |
| Procter & Gamble Co. | Consumer Staples | 1.2% |
| Edison International | Utilities | 1.2% |
| Emerson Electric Co. | Industrials | 1.2% |
| General Growth Properties, Inc. | Financials | 1.1% |
| Valero Energy Corp. | Energy | 1.1% |
| AvalonBay Communities, Inc. | Financials | 1.1% |
| ACE Ltd. | Financials | 1.1% |
| Wisconsin Energy Corp. | Utilities | 1.1% |
| General Electric Co. | Industrials | 1.1% |
| Altria Group, Inc. | Consumer Staples | 1.1% |
| MetLife, Inc. | Financials | 1.1% |
| Duke Energy Corp. | Utilities | 1.1% |
| Target Corp. | Consumer Discretionary | 1.0% |
| ConocoPhillips Co. | Energy | 1.0% |
| McDonald's Corp. | Consumer Discretionary | 1.0% |
| Walgreen Co. | Consumer Staples | 1.0% |
| Ameriprise Financial, Inc. | Financials | 1.0% |
| Schlumberger Ltd. | Energy | 0.9% |
| Branch Banking & Trust Co. | Financials | 0.9% |
| General Motors Co. | Consumer Discretionary | 0.8% |
| Raytheon Co. | Industrials | 0.8% |
| TD Ameritrade Holding Corp. | Financials | 0.8% |
| Cummins, Inc. | Industrials | 0.8% |
| XL Group Ltd. | Financials | 0.8% |
| Merck & Co., Inc. | Health Care | 0.8% |
| Fidelity National Information Services, Inc. | Information Technology | 0.8% |
| Sempra Energy | Utilities | 0.8% |
| Discover Financial Services | Financials | 0.8% |
| Home Depot USA, Inc. | Consumer Discretionary | 0.7% |
| Kinder Morgan, Inc. | Energy | 0.7% |
| Eaton Corp. | Industrials | 0.7% |
| Western Union Co. | Information Technology | 0.7% |
| Microsoft Corp. | Information Technology | 0.7% |
| Kraft Heinz Co. | Consumer Staples | 0.7% |
| Invesco Ltd. | Financials | 0.7% |
| PPL Corp. | Utilities | 0.7% |
| Cisco Systems, Inc. | Information Technology | 0.7% |
| Occidental Petroleum Corp. | Energy | 0.7% |
| E.I. du Pont de Nemours & Co. | Materials | 0.6% |
| Nielsen Holdings plc | Industrials | 0.6% |
| Lincoln National Corp. | Financials | 0.6% |
| Exxon Mobil Corp. | Energy | 0.6% |
| Union Pacific Corp. | Industrials | 0.6% |
| Mattel, Inc. | Consumer Discretionary | 0.6% |
| Allstate Corp. | Financials | 0.6% |
| SCANA Corp. | Utilities | 0.6% |
| Sysco Corp. | Consumer Staples | 0.6% |
| Juniper Networks, Inc. | Information Technology | 0.6% |
| M&T Bank Corp. | Financials | 0.6% |
| LyondellBasell Industries NV | Materials | 0.6% |
| ProLogis, Inc. | Financials | 0.5% |
| Anthem, Inc. | Health Care | 0.5% |
| Boston Properties, Inc. | Financials | 0.5% |
| Celanese Corp. | Materials | 0.5% |
| Cardinal Health, Inc. | Health Care | 0.5% |
| UnitedHealth Group, Inc. | Health Care | 0.5% |
| Comcast Corp. | Consumer Discretionary | 0.5% |
| Unum Group | Financials | 0.5% |
| Avery Dennison Corp. | Materials | 0.5% |
| Huntsman Corp. | Materials | 0.5% |
| PepsiCo, Inc. | Consumer Staples | 0.4% |
| Omnicom Group, Inc. | Consumer Discretionary | 0.4% |
| Eastman Chemical Co. | Materials | 0.4% |
| Harley-Davidson, Inc. | Consumer Discretionary | 0.4% |
| Spectra Energy Corp. | Energy | 0.4% |
| Bristol-Myers Squibb Co. | Health Care | 0.4% |
| KAR Auction Services, Inc. | Industrials | 0.4% |
| Harris Corp. | Information Technology | 0.4% |
| Lockheed Martin Corp. | Industrials | 0.4% |
| Brinker International, Inc. | Consumer Discretionary | 0.4% |
| Pacific Gas & Electric Co. | Utilities | 0.4% |
| WestRock Co. | Materials | 0.4% |
| Applied Materials, Inc. | Information Technology | 0.4% |
| SL Green Realty Corp. | Financials | 0.4% |
| Norfolk Southern Corp. | Industrials | 0.3% |
| Molson Coors Brewing Co. | Consumer Staples | 0.3% |
| Capital One Financial Corp. | Financials | 0.3% |
| Duke Realty Corp. | Financials | 0.3% |
| Navient Corp. | Financials | 0.3% |
| Dr. Pepper Snapple Group, Inc. | Consumer Staples | 0.3% |
| Honeywell International, Inc. | Industrials | 0.3% |
| Wynn Resorts Ltd. | Consumer Discretionary | 0.3% |
| CME Group, Inc. | Financials | 0.3% |
| Dunkin' Brands, Inc. | Consumer Discretionary | 0.3% |
| Ingredion, Inc. | Consumer Staples | 0.3% |
| AmTrust Financial Services, Inc. | Financials | 0.3% |
| Pitney Bowes, Inc. | Industrials | 0.3% |
| Healthcare Trust of America, Inc. | Financials | 0.3% |
| Progressive Corp. | Financials | 0.3% |
| Pentair, Inc. | Industrials | 0.3% |
| Watsco, Inc. | Industrials | 0.3% |
| NVIDIA Corp. | Information Technology | 0.3% |
| Quest Diagnostics, Inc. | Health Care | 0.3% |
| UDR, Inc. | Financials | 0.3% |
| Time Warner, Inc. | Consumer Discretionary | 0.3% |
| Pulte Group, Inc. | Consumer Discretionary | 0.2% |
| Graco, Inc. | Industrials | 0.2% |
| Annaly Capital Management, Inc. | Financials | 0.2% |
| Communications Sales & Leasing, Inc. | Financials | 0.2% |
| Ventas, Inc. | Financials | 0.2% |
| Albemarle Corp. | Materials | 0.2% |
| Reinsurance Group of America, Inc. | Financials | 0.2% |
| Darden Restaurants, Inc. | Consumer Discretionary | 0.2% |
| KLA-Tencor Corp. | Information Technology | 0.2% |
| Allison Transmission Holdings, Inc. | Industrials | 0.2% |
| Atmos Energy Corp. | Utilities | 0.2% |
| Microchip Technology, Inc. | Information Technology | 0.2% |
| AES Corp. | Utilities | 0.1% |
| Call Money Futures | Undefined | 0.0% |
| S&P 500 E-Mini Futures Sep 2016 | Undefined | 0.0% |
Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.
Sector Allocationas of 08/31/2016
| Sector | Weighting | Fund Change from Previous Quarter |
|---|---|---|
| Consumer Discretionary |
0.1%
|
|
| Telecommunication Services |
0.5%
|
|
| Utilities |
0.5%
|
|
| Bonds | 0.0% | |
| Consumer Staples |
0.4%
|
|
| Energy |
0.8%
|
|
| Financials |
3.8%
|
|
| Health Care |
 0.2%
|
|
| Industrials |
0.5%
|
|
| Information Technology |
0.7%
|
|
| Materials |
0.9%
|
|
| Real Estate |
4.9%
|
PORTFOLIO DETAILS as of 08/31/2016
- Total Net Assets
- $6.36 B
- Number of Holdings
- 131
- Weighted Average Market Cap.
- 96.7 B
- P/B Ratio
- 2.2x
- Portfolio Turnover Ratio as of 10/30/2015
- 66.4%
- P/E Ratio
- 17.7x
To view definitions for the above Portfolio Details, Click here.
Weighted Average Market Cap - The average market capitalization of all companies held in the portfolio with each company weighted according to its percent held in the portfolio. The result is based upon a weighted average of the securities held in the fund.
P/B Ratio - A ratio that helps determine whether a stock is undervalued or overvalued. It is calculated by dividing a stock's price per share by its book value per share. The result is based upon a weighted average of the securities held in the fund.
P/E Ratio - Is the weighted average of each holding's P/E ratio (price of a stock divided by its earnings per share). The result is based upon a weighted average of the securities held in the fund.
Portfolio Turnover - This is a measure of the Fund’s trading activity which is computed by taking the lesser of purchases or sales divided by average monthly market value, excluding short-term investments. The resulting percentage represents the percentage of the portfolio’s holdings that have changed over the past year.
Contributors & Detractors as of 06/30/2016
Contributors
| Holding | Contribution |
|---|---|
| Pfizer, Inc. | 0.6% |
| Chevron Corp. | 0.4% |
| Johnson & Johnson | 0.2% |
| AT&T, Inc. | 0.2% |
| JPMorgan Chase & Co. | 0.2% |
Detractors
| Holding | Contribution |
|---|---|
| Valero Energy Corp. | -0.3% |
| Target Corp. | -0.2% |
| Apple, Inc. | -0.2% |
| Invesco Ltd. | -0.1% |
| Motorola, Inc. | -0.1% |
% Contribution reflects the effect of the individual stock's performance on the Fund's overall performance for the period. Individual holdings and their effect on Fund performance may change significantly over time. Investors should consider the overall performance of the Fund before making a decision on whether or not to invest in the Fund.
Attribution Analysis
| Affiliated Fund | Benchmark | Variance | |||||
|---|---|---|---|---|---|---|---|
| Sector | Avg. Weight | Base Return | Avg. Weight | Base Return | Stock Selection | Group Weight | Total |
The total base return displayed for the Fund does not capture daily cash flow and trading activity and therefore is subject to reasonable variance from the Fund's actual return. Please refer to Lord Abbett Affiliated Fund Performance Results for the Fund's longer-term returns. The Fund is actively managed and portfolio characteristics, such as individual holdings and sector weightings, may change significantly over time.
Source: Wilshire Attribution Software. GICS sector classification; non-GICS securities classified by Lord Abbett. Sectors may include many industries.
Source: Wilshire Attribution Software. GICS sector classification; non-GICS securities classified by Lord Abbett. Sectors may include many industries.
Dividends & Cap Gains
Dividends & Cap Gains
Dividend Payments
- YTD Dividends Paidas of 09/26/2016
- $0.178
- Dividend Frequency
- Quarterly
| Record Date | Ex-Dividend Date | Reinvest & Payable Date | Dividend | Reinvest Price |
|---|---|---|---|---|
| 06/29/2016 | 06/30/2016 | 06/30/2016 | $0.08280 | $14.74 |
| 03/30/2016 | 03/31/2016 | 03/31/2016 | $0.09600 | $14.37 |
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 |
|---|---|---|
| 09/29/2016 | 09/30/2016 | 09/30/2016 |
| 12/29/2016 | 12/30/2016 | 12/30/2016 |
Capital Gains Distributions
| Record Date | Reinvest & Payable Date | Long-term | Short-term * | Total | Reinvest Price |
|---|---|---|---|---|---|
| 11/23/2015 | 11/24/2015 | $0.9223 | $0.2241 | $1.1464 | $14.53 |
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
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 |
|---|---|
| 11/21/2016 | 11/22/2016 |
Fees & Expenses
Fees & Expenses
Sales Charge Schedule as of 09/26/2016
| Sales Charge | Dealer's Concession | Prices at Breakpoint | |
|---|---|---|---|
| Less than $50,000 | 5.75% | 5.00% | $16.02 |
| $50,000 to $99,999 | 4.75% | 4.00% | $15.85 |
| $100,000 to $249,999 | 3.95% | 3.25% | $15.72 |
| $250,000 to $499,999 | 2.75% | 2.25% | $15.53 |
| $500,000 to $999,999 | 1.95% | 1.75% | $15.40 |
| $1,000,000 to $5,000,000 | 0.00% | 1.00% | $15.10 |
The 12b-1 trail commission is 0.25% (accrues immediately) for all equity and multi-asset class funds.
Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.
EXPENSE RATIOas of 08/31/2016
Fund Review
Fund Review
Fund Review*Class A Share at net asset value (NAV). For the latest NAV, including maximum sales charges (MOP) performance information, visit us at lordabbett.com. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted.
If applicable, “Modestly” is defined as any under or outperformance within 100 basis points (bps) for equity funds and 50
basis points (bps) for fixed income funds as compared to the Fund's benchmark.
1The S&P 500® Index is widely regarded as the standard for measuring large cap U.S. stock market performance and includes a representative sample of leading companies in leading industries.
2“News Release: Gross Domestic Product,” Bureau of Economic Analysis, June 28, 2016.
3“Beige Book–June 2016,” Board of Governors of the Federal Reserve System, June 1, 2016.
4The MSCI EAFE Index (Europe, Australasia, Far East) is a free float‐adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada. The MSCI EAFE Index consists of the following 21 developed market country indexes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.
5The Russell 3000® Value Index measures the performance of those Russell 3000 Index companies with lower price-to-book ratios and lower forecasted growth values.
6The Russell 3000® Growth Index measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values.
7The 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.
8The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index, which represents approximately 10% of the total market capitalization of the Russell 3000 Index.
9 The Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.
The indexes are presented for informational purposes only and are not presented to illustrate any specific product or security. Indexes reflect total return, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment. Past performance is not a reliable indicator or guarantee of future results.
The Fund’s portfolio is actively managed and, therefore, its holdings and the weightings of a particular issuer or a particular sector as a percentage of portfolio assets may change significantly over time. Sectors may include many industries. The mention of specific portfolio holdings 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.
A Note about Risk: The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Larger companies may be unable to respond quickly to certain market developments and may have slower rates of growth as compared to smaller successful companies. A company's dividend payments may vary over time, and there is no guarantee that a company will pay a dividend at all. These factors can adversely affect Fund performance. Investments in value companies can continue to be undervalued for long periods of time and be more volatile than the stock market in general. The Fund’s performance history under its current investment strategy is very limited. The Fund's performance achieved during its initial period of investment operation under its current investment strategy may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future.
The views and information discussed in this commentary are as of June 30, 2016, are subject to change and may not reflect the views of the firm as a whole. The views expressed in market commentaries are at a specific point in time, are opinions only, and should not be relied upon as a forecast, or research or investment advice regarding a particular investment or the markets in general. Information discussed should not be considered a recommendation to purchase or sell securities.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in the fund’s summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional, Lord Abbett Distributor LLC at 888-522-2388 or visit us at www.lordabbett.com. Read the prospectus carefully before you invest.
Fund Documents
Fund Documents
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Summary Prospectus
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Statutory Prospectus
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Prospectus (XBRL)
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SAI
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Annual Report
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Semi-Annual Report
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Fact Sheet
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Flyer
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Brochure
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