LADRX | Developing Growth Fund Class R3 | Lord Abbett

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Developing Growth Fund

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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 - - - - - -

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 - - - - - -

Fund Expense Ratio :

1.18%

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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

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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 - - - - - -

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 - - - - - -

Fund Expense Ratio :

1.18%

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

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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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
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Statutory Prospectus
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
Fund Story
Publish Date:11/03/2015

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