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Calibrated Large Cap Value Fund

Summary

Summary

What is the Calibrated Large Cap Value Fund?

The Fund seeks to deliver total return by investing primarily in stocks of large U.S. companies.

RESEARCH DRIVEN

Experienced portfolio managers and research analysts develop proprietary fundamental insights and collaborate to identify undervalued stocks.

STYLE PURE

Our portfolio is constructed to provide investors with a high degree of style consistency and predictability.

BUILT TO PERFORM

We seek to deliver competitive performance through strong stock selection while minimizing the impact of sector and other factor risks.

Fund Basicsas of 12/31/2018

Total Net Assets
$387.19 M
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Gross Expense Ratio
0.97%
Fund Net Expense Ratio
0.93%
Number of Holdings
118
CUSIP
54400M757

Yield

12-Month Dividend Yield 1 as of 02/15/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.79% 1.75%

30-Day Standardized Yield 2 as of 01/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.64% 1.63%

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge 8.03% -5.67% 10.50% 6.68% - 11.14%
Lipper Category Avg. Multi-Cap Value Funds 9.20% -7.12% 11.03% 6.90% - -
Russell 1000® Value Index 7.78% -4.81% 11.62% 8.33% - -

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge -9.92% -9.92% 5.37% 4.30% - 10.06%
Lipper Category Avg. Multi-Cap Value Funds -11.42% -11.42% 5.63% 4.24% - -
Russell 1000® Value Index -8.27% -8.27% 6.95% 5.95% - -

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

RELATED CONTENT

Principles of Portfolio Construction: The Lord Abbett Calibrated Equity Approach
November 5, 2015

The Calibrated strategies employ a distinctive approach to delivering performance and mandate consistency.

TEN LARGEST HOLDINGS as of 12/31/2018View Portfolio

Holding Assets
JPMorgan Chase & Co. 3.9%
Pfizer, Inc. 3.1%
Chevron Corp. 3.0%
Bank of America Corp. 2.6%
Cisco Systems, Inc. 2.2%
Intel Corp. 2.2%
Johnson & Johnson, Inc. 2.2%
Merck & Co., Inc. 1.9%
Verizon Communications, Inc. 1.8%
AT&T, Inc. 1.8%
% of Total Assets 24.7%

INVESTMENT TEAM

Walter H. Prahl
Walter H. Prahl, Ph.D.

Partner & Director

34 Years of Industry Experience

pavese
Marc Pavese, Ph.D.

Partner & Portfolio Manager

19 Years of Industry Experience

Supported By 38 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

12-Month Dividend Yield 1 as of 02/15/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 1.79% 1.75%

30-Day Standardized Yield 2 as of 01/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.64% 1.63%

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge 8.03% -5.67% 10.50% 6.68% - 11.14%
Lipper Category Avg. Multi-Cap Value Funds 9.20% -7.12% 11.03% 6.90% - -
Russell 1000® Value Index 7.78% -4.81% 11.62% 8.33% - -

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge -9.92% -9.92% 5.37% 4.30% - 10.06%
Lipper Category Avg. Multi-Cap Value Funds -11.42% -11.42% 5.63% 4.24% - -
Russell 1000® Value Index -8.27% -8.27% 6.95% 5.95% - -

Fund Expense Ratio :

Gross 0.97%

Net 0.93%

Year Fund Returns Russell 1000® Value Index
2018 -9.92% -8.27%
2017 10.89% 13.66%
2016 17.11% 17.34%
2015 -5.67% -3.83%
2014 11.83% 13.45%
2013 31.01% 32.53%
2012 21.28% 17.51%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 11.48%
2018 -3.13% 0.20% 5.89% -12.36% -9.92%
2017 2.00% 0.38% 3.10% 5.04% 10.89%
2016 0.50% 3.73% 3.92% 8.11% 17.11%
2015 -0.06% -0.68% -9.09% 4.54% -5.67%
2014 2.14% 3.92% -0.64% 6.04% 11.83%
2013 11.52% 3.63% 3.26% 9.78% 31.01%
2012 13.79% -1.63% 6.38% 1.85% 21.28%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2018

  • Chevron Corp., an energy company, remains the portfolio’s largest overweight position relative to its benchmark, the Russell 1000® Value Index, as of December 31, 2018. We believe that Chevron’s focus on responsible capital spending, shareholder-friendly payout policies, and solid execution in growth projects likely will result in a higher valuation going forward.
  • The portfolio also has an overweight position relative to its benchmark in JPMorgan Chase & Co., a global financial services company. We expect the company to benefit from increasing interest rates, a decreasing regulatory burden, a lower corporate tax rate, and higher U.S. GDP growth. Additionally, the company continues to de-risk its balance sheet and build up large amounts of capital, which it is deploying to shareholders.
  • Union Pacific Corp., a rail transportation company, is another of the portfolio’s overweight positions relative to its benchmark. We believe that Union Pacific’s diversified revenue mix, significant opportunities for margin growth, and strong free cash flow, will result in a higher valuation going forward.

PORTFOLIO DETAILS as of 12/31/2018

Total Net Assets
$387.19 M
Number of Holdings
118
Weighted Average Market Cap.
115.7 B
P/B Ratio
1.9x
Portfolio Turnover Ratio as of 07/31/2018
63.8%
P/E Ratio
13.0x

Contributors & Detractors as of  12/31/2018

Contributors

Holding Contribution
Procter & Gamble Co. 0.1%
Merck & Co., Inc. 0.1%
Verizon Communications, Inc. 0.1%
Avago Technologies Ltd. 0.1%
American Electric Power Co., Inc. 0.1%

Detractors

Holding Contribution
JPMorgan Chase & Co. -0.5%
Bank of America Corp. -0.4%
Valero Energy Corp. -0.4%
Schlumberger Ltd. -0.4%
Devon Energy Corp. -0.3%

Attribution Analysis 

Calibrated Large Cap Value Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 02/15/2019
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
11/19/2018 11/20/2018 11/20/2018 $0.35280 $19.03

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
11/20/2019 11/21/2019 11/21/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/19/2018 11/20/2018 $0.4837 $0.3016 $0.7853 $19.03

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
11/20/2019 11/21/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 01/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
0.97% 0.93%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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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

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Class R4 - The inception date for Class R4 shares is June 30, 2015. The performance quotations for Class R4 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R4 shares; and (b) for periods after June 30, 2015, actual Class R4 performance is used, which reflects all charges and fees applicable to Class R4 shares.

Class R4 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

The Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

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