LADTX | Developing Growth Fund Class R5 | 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 Basicsas of 05/31/2022

Total Net Assets
$2.80 B
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Expense Ratio
0.68%
Number of Holdings
92

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -31.98% -33.52% 6.20% 13.65% 12.51% -
Lipper Category Avg. Small-Cap Growth Funds -23.29% -20.82% 9.13% 9.75% 11.40% -
Russell 2000® Growth Index -24.79% -25.71% 6.18% 6.87% 10.55% -

Fund Expense Ratio :

0.68%

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -19.22% -22.51% 12.38% 17.94% 13.52% -
Lipper Category Avg. Small-Cap Growth Funds -12.45% -8.15% 13.14% 13.14% 11.97% -
Russell 2000® Growth Index -12.63% -14.33% 9.88% 10.33% 11.21% -

Fund Expense Ratio :

0.68%

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TEN LARGEST HOLDINGS as of 05/31/2022View Portfolio

Holding Assets
Intra-Cellular Therapies Inc 2.7%
Lantheus Holdings Inc 2.5%
iRhythm Technologies Inc 2.3%
Livent Corp 1.9%
Semtech Corp 1.9%
Planet Fitness Inc 1.8%
Cytokinetics Inc 1.7%
Endava PLC 1.7%
Inspire Medical Systems Inc 1.7%
Simply Good Foods Co/The 1.7%

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 :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -31.98% -33.52% 6.20% 13.65% 12.51% -
Lipper Category Avg. Small-Cap Growth Funds -23.29% -20.82% 9.13% 9.75% 11.40% -
Russell 2000® Growth Index -24.79% -25.71% 6.18% 6.87% 10.55% -

Fund Expense Ratio :

0.68%

Fund Expense Ratio :

0.68%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -19.22% -22.51% 12.38% 17.94% 13.52% -
Lipper Category Avg. Small-Cap Growth Funds -12.45% -8.15% 13.14% 13.14% 11.97% -
Russell 2000® Growth Index -12.63% -14.33% 9.88% 10.33% 11.21% -

Fund Expense Ratio :

0.68%

Year Fund Returns Russell 2000® Growth Index
2021 -2.41% 2.83%
2020 72.95% 34.63%
2019 32.31% 28.48%
2018 5.32% -9.31%
2017 30.27% 22.17%
2016 -2.48% 11.32%
2015 -8.64% -1.38%
2014 3.56% 5.60%
2013 57.77% 43.30%
2012 10.73% 14.59%
2011 -1.30% -
2010 37.01% -
2009 47.54% -
2008 -47.31% -
2007 36.29% -
2006 12.86% -
2005 12.31% -
2004 6.39% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -19.22% - - - -33.88%
2021 1.72% 2.93% -3.63% -3.28% -2.41%
2020 -16.93% 40.77% 15.98% 27.53% 72.95%
2019 27.10% 9.18% -11.29% 7.48% 32.31%
2018 7.20% 15.07% 12.22% -23.91% 5.32%
2017 8.45% 4.10% 7.14% 7.71% 30.27%
2016 -10.24% 2.28% 10.94% -4.25% -2.48%
2015 7.18% 2.69% -15.63% -1.62% -8.64%
2014 1.76% 0.24% -5.71% 7.66% 3.56%
2013 13.60% 10.13% 18.88% 6.09% 57.77%
2012 12.24% -2.59% 5.66% -4.16% 10.73%
2011 10.32% 1.61% -20.78% 11.16% -1.30%
2010 8.25% -7.85% 16.61% 17.79% 37.01%
2009 -2.06% 24.50% 14.24% 5.91% 47.54%
2008 -21.75% 6.69% -11.69% -28.53% -47.31%
2007 4.75% 13.67% 9.96% 4.10% 36.29%
2006 16.07% -6.14% -6.74% 11.08% 12.86%
2005 -5.76% 5.86% 9.71% 2.62% 12.31%
2004 - - - 11.64% 6.39%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 3/31/2022

  • As we enter the second quarter of 2022, it appears more and more likely that the 2020s are becoming a decade of discord rather than another “roaring 20s” that many commentators had forecast a couple of years ago.  Between continued headwinds stemming from COVID-19, sustained inflation, policy regime changes by the Fed, and, more recently, Russia’s shockingly barbaric and tragic aggression on Ukraine, the era of democratization, disinflation, globalization, and declining conflict of 1989-2019 is, at best, on pause.  However, we maintain that the technology revolution will power ahead despite all the tumult around the world, and that the secular growth leaders should generally distinguish themselves from the broader equity market with outsized returns throughout this decade. The fact that many great names have sold off during this bear market and now appear severely oversold only strengthens that case and argues for rebalancing into beaten down innovation stocks within a broader asset allocation.
  • We continue to focus on finding great businesses with both strong operating momentum and resilient stock price momentum to navigate this hostile environment.  We are also looking to balance the risks of disparate, highly consequential potential outcomes to global concerns today, between the global growth risks of a worsening war narrative, to the potential for peace to break out, to the inflationary pressures of economic reopening 2.0, to the risks of a Fed blunder. These can all have varying impacts on different segments of the market and betting on one over the others may create unnecessary risks for investors. That said, our goal in the near term is to preserve the significant excess returns from 2017-2020, keep our clients invested to potentially benefit from the ensuing bull market in innovation, and deliver on our mandate as growth investors.
  • 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.

Portfolio Details as of 05/31/2022

Total Net Assets
$2.80 B
Number of Holdings
92
Weighted Average Market Cap.
4.6 B
P/B Ratio
4.7x
P/E Ratio
25.1x

Contributors & Detractors as of  03/31/2022

Contributors

Holding Contribution
Intra-Cellular Therapies Inc 0.3%
Anaplan Inc 0.3%
iRhythm Technologies, Inc. 0.2%
Inspire Med Sys Inc 0.2%
Cargurus Inc 0.2%

Detractors

Holding Contribution
Calix Inc -1.4%
Ambarella, Inc. -1.1%
Crocs Inc -0.8%
Trex Co Inc -0.6%
Endava Plc -0.6%

Attribution Analysis 

Developing Growth Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

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 $36.00

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 05/31/2022

0.68%

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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