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Calibrated Mid Cap Value Fund

Summary

Summary

What is the Calibrated Mid Cap Value Fund?

The Fund seeks to deliver total return by investing primarily in stocks of mid-sized 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
$589.30 M
Inception Date
12/29/2011
Dividend Frequency
Annually
Number of Holdings
137
CUSIP
54400M823
Minimum Initial Investment
$1,500+

Expense Ratioas of 01/31/2019

Yield

12-Month Dividend Yield 1 as of 02/22/2019  

w/o sales charge 2.16%
w/ sales charge 2.04%

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

1.14%

Fund Expense Ratio :

0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge 10.90% -6.99% 10.36% 6.55% - 11.07%
Lipper Category Avg. Mid-Cap Value Funds 11.08% -8.09% 10.38% 6.07% - -
Russell Midcap® Value Index 10.29% -5.43% 11.67% 7.90% - 12.22%
w/ sales charge 4.55% -12.35% 8.21% 5.30% - 10.15%

Fund Expense Ratio :

0.98%

Fund Expense Ratio :

0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge -13.85% -13.85% 3.85% 3.86% - 9.58%
Lipper Category Avg. Mid-Cap Value Funds -14.79% -14.80% 4.23% 3.23% - -
Russell Midcap® Value Index -12.29% -12.29% 6.06% 5.44% - 10.81%
w/ sales charge -18.80% -18.80% 1.82% 2.64% - 8.66%

Fund Expense Ratio :

0.98%

RELATED CONTENT

Lord Abbett Mid Cap Value Strategy: Three-Part Harmony
March 8, 2017

Blending astute stock selection, research, and risk management to deliver alpha

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
Public Service Enterprise Group, Inc. 1.7%
Sempra Energy 1.5%
Corning, Inc. 1.5%
Ventas, Inc. 1.3%
Zimmer Biomet Holdings, Inc. 1.3%
Boston Properties, Inc. 1.3%
UDR, Inc. 1.3%
PPL Corp. 1.3%
Republic Services, Inc. 1.2%
KeyCorp. 1.2%
% of Total Assets 13.7%

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 02/22/2019  

w/o sales charge 2.16%
w/ sales charge 2.04%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 1.14% 1.14%

Fund Expense Ratio :

0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge 10.90% -6.99% 10.36% 6.55% - 11.07%
Lipper Category Avg. Mid-Cap Value Funds 11.08% -8.09% 10.38% 6.07% - -
Russell Midcap® Value Index 10.29% -5.43% 11.67% 7.90% - 12.22%
w/ sales charge 4.55% -12.35% 8.21% 5.30% - 10.15%

Fund Expense Ratio :

0.98%

Fund Expense Ratio :

0.98%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/29/2011
w/o sales charge -13.85% -13.85% 3.85% 3.86% - 9.58%
Lipper Category Avg. Mid-Cap Value Funds -14.79% -14.80% 4.23% 3.23% - -
Russell Midcap® Value Index -12.29% -12.29% 6.06% 5.44% - 10.81%
w/ sales charge -18.80% -18.80% 1.82% 2.64% - 8.66%

Fund Expense Ratio :

0.98%

Year Fund Returns Russell Midcap® Value Index
2018 -13.85% -12.29%
2017 10.85% 13.34%
2016 17.27% 20.00%
2015 -6.74% -4.78%
2014 15.71% 14.75%
2013 33.90% 33.46%
2012 17.52% 18.51%
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 15.38%
2018 -1.43% 1.17% 2.96% -16.09% -13.85%
2017 3.02% 1.33% 1.36% 4.76% 10.85%
2016 2.13% 3.37% 4.96% 5.84% 17.27%
2015 3.13% -2.17% -9.81% 2.50% -6.74%
2014 4.30% 4.40% -2.26% 8.72% 15.71%
2013 15.10% 2.34% 4.67% 8.61% 33.90%
2012 12.94% -4.82% 6.17% 2.97% 17.52%

Growth of $10,000 as of 01/31/2019

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2018

  • Dollar General Corporation, an American chain of variety stores, is the portfolio’s largest overweight position relative to the portfolio's benchmark, the Russell Midcap® Value Index, as of December 31, 2018.  The company has undertaken an aggressive remodeling program and enacted new initiatives, including offering fresh produce and beauty products. We believe these changes will bring about stronger store sales growth and will position the firm for long term profitability. 
  • The portfolio also has an overweight position in RenaissanceRe Holdings Ltd., a U.S. reinsurance and insurance coverage company, relative to its benchmark.  We believe the recent acquisition with Tokio Marine’s reinsurance platform will be income accretive going forward.
  • Udr, Inc., a multi-family real estate investment trust business, is another overweight position within the portfolio relative to its benchmark. We believe the firm’s diversified portfolio mix of coastal and second tier markets as well as attractive real estate valuation metrics will serve as a revenue tailwind.

PORTFOLIO DETAILS as of 12/31/2018

Total Net Assets
$589.30 M
Number of Holdings
137
Weighted Average Market Cap.
13.3 B
P/B Ratio
1.8x
Portfolio Turnover Ratio as of 07/31/2018
73.1%
P/E Ratio
13.5x

Contributors & Detractors as of  12/31/2018

Contributors

Holding Contribution
Ventas, Inc. 0.1%
AES Corp. 0.1%
Hormel Foods Corp. 0.0%
Westar Energy, Inc. 0.0%
Eversource Energy 0.0%

Detractors

Holding Contribution
Rowan Cos., Inc. -0.5%
Marathon Oil Corp. -0.5%
Noble Energy, Inc. -0.4%
National Oilwell Varco, Inc. -0.4%
ARAMARK Holdings Corp. -0.3%

Attribution Analysis 

Calibrated Mid 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 02/22/2019
$0.002
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
02/19/2019 02/20/2019 02/20/2019 $0.00260 $19.40

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/19/2018 11/20/2018 $0.6184 $1.0048 $1.6232 $18.30

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

Sales Charge Schedule as of 02/22/2019

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $20.55
$50,000 to $99,999 4.75% 4.00% $20.34
$100,000 to $249,999 3.95% 3.25% $20.17
$250,000 to $499,999 2.75% 2.25% $19.92
$500,000 to $999,999 1.95% 1.75% $19.76
$1,000,000 to $5,000,000 0.00% 1.00% $19.37

EXPENSE RATIOas of 01/31/2019

Fund Documents

Fund Documents

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Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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

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