LADRX | Developing Growth Fund Class R3 | Lord Abbett

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Developing Growth Fund

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Daily price w/o sales charge as of 09/30/2022

$15.78

arrowDown$0.02

YTD Returns w/o sales charge as of 09/30/2022

-36.06%

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

fund alert  The Developing Growth Fund will close to new investors as of March 5, 2021.

Click here to view all legal text including risk information

Summary

Summary

What is the Developing Growth Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of small U.S. companies.

Fund Basics

Total Net Assets
-
Inception Date
09/28/2007
Dividend Frequency
Annually
Fund Expense Ratio
1.18%
Number of Holdings
-

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -36.06% -38.26% 4.67% 9.65% 10.07% 8.10%
Lipper Category Avg. Small-Cap Growth Funds - - - - - -
Russell 2000® Growth Index - - - - - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.18%

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -36.06% -38.26% 4.67% 9.65% 10.07% 8.10%
Lipper Category Avg. Small-Cap Growth Funds - - - - - -
Russell 2000® Growth Index - - - - - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.18%

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.

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INVESTMENT TEAM

F. Thomas O'Halloran
F. Thomas O'Halloran, CFA, J.D.

Partner & Portfolio Manager

35 Years of Industry Experience

Matthew R. DeCicco
Matthew R. DeCicco, CFA

Partner & Director of Equities

21 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

21 Years of Industry Experience

Benjamin Ebel
Benjamin Ebel

Portfolio Manager

30 Years of Industry Experience

Supported By 8 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

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -36.06% -38.26% 4.67% 9.65% 10.07% 8.10%
Lipper Category Avg. Small-Cap Growth Funds - - - - - -
Russell 2000® Growth Index - - - - - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.18%

Fund Expense Ratio :

1.18%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 09/28/2007
w/o sales charge -36.06% -38.26% 4.67% 9.65% 10.07% 8.10%
Lipper Category Avg. Small-Cap Growth Funds - - - - - -
Russell 2000® Growth Index - - - - - -

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

1.18%

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.

Year Fund Returns Russell 2000® Growth Index
2021 -2.93% 2.83%
2020 72.12% 34.63%
2019 31.63% 28.48%
2018 4.79% -9.31%
2017 29.64% 22.17%
2016 -2.99% 11.32%
2015 -9.10% -1.38%
2014 3.09% 5.60%
2013 56.97% 43.30%
2012 10.20% 14.59%
2011 -1.81% -
2010 36.27% -
2009 46.84% -
2008 -47.57% -
2007 35.63% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -19.29% -21.18% - - -36.06%
2021 1.57% 2.81% -3.73% -3.44% -2.93%
2020 -17.02% 40.56% 15.88% 27.35% 72.12%
2019 26.92% 9.07% -11.41% 7.34% 31.63%
2018 7.05% 14.94% 12.10% -24.03% 4.79%
2017 8.28% 4.01% 7.00% 7.58% 29.64%
2016 -10.36% 2.16% 10.77% -4.37% -2.99%
2015 7.06% 2.57% -15.74% -1.76% -9.10%
2014 1.65% 0.12% -5.80% 7.53% 3.09%
2013 13.48% 10.00% 18.72% 5.92% 56.97%
2012 12.15% -2.74% 5.55% -4.27% 10.20%
2011 10.19% 1.46% -20.89% 11.03% -1.81%
2010 8.10% -7.97% 16.48% 17.59% 36.27%
2009 -2.17% 24.23% 14.22% 5.78% 46.84%
2008 -21.83% 6.59% -11.82% -28.64% -47.57%
2007 4.60% 13.56% 9.80% 3.99% 35.63%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 6/30/2022

  • Key indicators for the market continue to support defensive positioning. Technical signals continue to be challenged; inflation is too high; liquidity, as measured by central bank balance sheets, which was expanding throughout 2020 and 2021, is now shrinking; credit spreads are widening; earnings are growing but seem more likely to be revised lower than higher in the months ahead. Of these, the dominant issue is inflation; if we get relief on that measure, the other metrics, too, should improve. Until then, “don’t fight the Fed” and “don’t fight the tape” are two simple rules to survive and advance. Accordingly, we remain defensive with an emphasis on quality (loosely defined as companies with greater earnings stability, higher market capitalizations, and higher current profitability levels) with selective additions and overweights in our highest-conviction high-growth names.
  • Inflation appears to now be sowing the seeds of a significant economic slowdown, as higher prices have cut demand in areas such as retail and housing. At the same time, efforts by central banks to bring down inflation has led to wealth erosion in financial assets while yields have fallen off their peak. As a result, this evidence of a slowdown appears to be gathering momentum.
  • Looking out beyond the immediate term, the powerful secular forces that kept inflation low before the pandemic - namely demographics, high debt levels, and the technology revolution - will reassert themselves at some point. Tighter monetary and fiscal policy, too, should cause inflation to decelerate from very high levels.  A decline in inflation is a powerful backdrop for equity returns (when it occurs) and supports a bullish outlook for equities. Furthermore, the technology revolution is ever more powerful with each passing year, providing a supportive backdrop for innovation in the Consumer, Communications, Healthcare, and Technology sectors in the decade ahead. The opportunity set of terrific growth companies in these sectors at more reasonable valuations continues to expand.  Many of these companies have dominant market positions, are experiencing tremendous growth, are very early on in their penetration, and have years of high compounding annual growth ahead.
  • Small cap stocks remain unloved and undervalued relative to their fundamentals, in our estimation. Valuation multiples continue to be depressed relative to their own history and relative to large caps; yet, expected earnings growth for 2022 and 2023 overwhelmingly favors the stocks of smaller cap companies. Today, our top holdings include several more developed companies in the index, specifically some who are already very successful innovators in the medical device space as well as technology stocks in software, communications, and semiconductors that have profitability today. In recent months, we have moved further away from companies with strong gross margins, heavy investment in R&D, but low or negative net earnings, as these stocks have borne the brunt of the market’s selloff.  In addition, we remain focused in biotechnology only on a handful of companies that are showing later-stage progress in drug development.  In both of these categories, we expect to return to higher-growth stocks as their price momentum strengthens and they continue to show strong operating momentum.

Dividends & Cap Gains

Dividends & Cap Gains

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
11/21/2022 11/22/2022 11/22/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/22/2021 11/23/2021 $3.3406 - $3.3406 $25.55
*

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
11/21/2022 11/22/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2022

1.18%

Fund Documents

Fund Documents

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IMPORTANT INFORMATION

 

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. Small cap company stocks tend to be more volatile and may be less liquid than other types of stocks. Small cap companies may also have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies. Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. The Fund engages in active and frequent trading of its securities, which may result in increased transaction fees, reduced investment performance, and higher taxes. These factors can adversely 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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

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 2000® Growth Index measures the performance of those Russell 2000 companies with higher price-to-book ratios and higher forecasted growth values.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

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.

* Awarded Best Small-Cap Growth Fund over ten years by Lipper. Lord Abbett Developing Growth Fund (Class I: LADYX) ranked best within the category of a total of 114 funds for the highest risk-adjusted returns for the 10-year period ended 12/31/2014.

Lipper Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds' historical risk-adjusted returns, measured in local currency, relative to peers. Winners are selected using the Lipper Leader rating for Consistent Return for funds with at least 36 months of performance history as of 12/31/2014. Awards are presented for the highest Lipper Leader for Consistent Return within each eligible classification over 3, 5, or 10 years. Other share classes may have different performance and expense characteristics. Class I shares are only available to institutional investors and certain others, including retirement plans. For additional information on each Class share, see the Fund's current prospectus.

Lipper awards are not intended to predict future results. Past performance does not guarantee future results.

Source: © Reuters 2015. All Rights Reserved. Lipper Analytical Services, Inc. is an independent mutual fund research and rating service. Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper.

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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