LAGWX | Developing Growth Fund Class A | 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 03/31/2022

Total Net Assets
$3.45 B
Inception Date
10/10/1973
Dividend Frequency
Annually
Number of Holdings
100
Minimum Initial Investment
$1,000+

Expense Ratioas of 04/30/2022

Fund Expense Ratio :

0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -30.09% -35.93% 5.99% 14.14% 11.67% 10.64%
Lipper Category Avg. Small-Cap Growth Funds -21.73% -21.05% 7.66% 10.27% 10.80% -
Russell 2000® Growth Index -23.35% -26.44% 4.14% 7.08% 9.95% -
w/ sales charge -34.12% -39.61% 3.93% 12.79% 11.02% 10.50%

Fund Expense Ratio :

0.93%

Fund Expense Ratio :

0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -19.27% -22.68% 12.10% 17.65% 13.21% 10.99%
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% -
w/ sales charge -23.92% -27.11% 9.90% 16.26% 12.54% 10.85%

Fund Expense Ratio :

0.93%

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TEN LARGEST HOLDINGS as of 03/31/2022View Portfolio

Holding Assets
Inspire Medical Systems Inc 2.4%
Intra-Cellular Therapies Inc 2.4%
Evoqua Water Technologies Corp 2.1%
iRhythm Technologies Inc 2.1%
Endava PLC 2.0%
Semtech Corp 2.0%
Rapid7 Inc 1.9%
Calix Inc 1.8%
Diodes Inc 1.8%
Shockwave Medical Inc 1.7%

INVESTMENT TEAM

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

Partner & Portfolio Manager

34 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

20 Years of Industry Experience

Benjamin Ebel
Benjamin Ebel

Portfolio Manager

29 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 :

0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -30.09% -35.93% 5.99% 14.14% 11.67% 10.64%
Lipper Category Avg. Small-Cap Growth Funds -21.73% -21.05% 7.66% 10.27% 10.80% -
Russell 2000® Growth Index -23.35% -26.44% 4.14% 7.08% 9.95% -
w/ sales charge -34.12% -39.61% 3.93% 12.79% 11.02% 10.50%

Fund Expense Ratio :

0.93%

Fund Expense Ratio :

0.93%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -19.27% -22.68% 12.10% 17.65% 13.21% 10.99%
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% -
w/ sales charge -23.92% -27.11% 9.90% 16.26% 12.54% 10.85%

Fund Expense Ratio :

0.93%

Year Fund Returns Russell 2000® Growth Index
2021 -2.66% 2.83%
2020 72.57% 34.63%
2019 31.91% 28.48%
2018 5.09% -9.31%
2017 29.92% 22.17%
2016 -2.71% 11.32%
2015 -8.90% -1.38%
2014 3.25% 5.60%
2013 57.19% 43.30%
2012 10.39% 14.59%
2011 -1.66% -
2010 36.54% -
2009 47.03% -
2008 -47.50% -
2007 35.83% -
2006 12.45% -
2005 11.87% -
2004 6.00% -
2003 40.06% -
2002 -29.54% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -19.27% - - - -32.43%
2021 1.64% 2.87% -3.66% -3.35% -2.66%
2020 -16.91% 40.59% 15.92% 27.45% 72.57%
2019 27.01% 9.09% -11.35% 7.39% 31.91%
2018 7.16% 14.97% 12.18% -23.96% 5.09%
2017 8.36% 4.06% 7.07% 7.61% 29.92%
2016 -10.30% 2.24% 10.87% -4.32% -2.71%
2015 7.12% 2.61% -15.70% -1.68% -8.90%
2014 1.67% 0.15% -5.75% 7.59% 3.25%
2013 13.50% 10.00% 18.78% 6.00% 57.19%
2012 12.16% -2.68% 5.55% -4.19% 10.39%
2011 10.23% 1.49% -20.86% 11.06% -1.66%
2010 8.21% -7.94% 16.47% 17.68% 36.54%
2009 -2.17% 24.37% 14.25% 5.76% 47.03%
2008 -21.82% 6.65% -11.81% -28.60% -47.50%
2007 4.65% 13.60% 9.82% 4.04% 35.83%
2006 15.98% -6.23% -6.80% 10.93% 12.45%
2005 -5.91% 5.82% 9.60% 2.52% 11.87%
2004 2.00% 0.20% -7.05% 11.58% 6.00%
2003 -3.27% 21.33% 9.79% 8.70% 40.06%
2002 0.07% -11.90% -23.81% 4.90% -29.54%
2001 -17.44% 16.01% -22.68% 25.62% -6.98%
2000 3.52% -13.67% -0.56% -7.37% -17.69%
1999 1.42% 11.69% -3.37% 26.23% 38.16%
1998 11.49% -2.94% -22.00% 28.29% 8.27%
1997 -2.88% 17.68% 21.77% -6.03% 30.78%
1996 8.18% 8.18% -2.85% 7.46% 22.19%
1995 6.04% 19.02% 15.90% -0.42% 45.66%
1994 0.16% -8.07% 10.54% 4.34% 6.20%
1993 -0.67% 1.03% 8.15% 3.76% 12.62%
1992 -2.92% -13.34% 5.39% 9.32% -3.06%
1991 29.96% -5.07% 9.77% 15.46% 56.36%
1990 1.18% 11.38% -24.62% 10.17% -6.41%
1989 3.04% 1.70% 8.07% 0.77% 14.12%
1988 8.71% 2.49% -4.04% -3.23% 3.45%
1987 23.22% -1.54% 5.33% -21.15% 0.76%
1986 12.02% 1.82% -18.44% 7.95% 0.42%
1985 9.91% -2.42% -9.28% 18.16% 14.96%
1984 -15.56% -5.27% 1.63% -4.54% -22.39%
1983 19.37% 16.69% -4.44% -6.33% 24.68%
1982 -11.29% 1.28% 11.66% 29.18% 29.58%
1981 6.38% 7.72% -18.09% 14.79% 7.74%
1980 -8.32% 13.37% 24.22% 5.17% 35.80%
1979 11.23% 3.38% 10.21% 1.23% 28.29%
1978 12.74% 18.50% 11.85% -9.31% 35.51%
1977 -5.21% 6.36% 3.99% 7.90% 13.12%
1976 25.90% -5.36% -5.21% 5.87% 19.57%
1975 36.09% 17.79% -12.76% -0.65% 38.93%
1974 2.02% -14.31% -23.96% -3.25% -35.69%
1973 - - - - -9.00%

Growth of $10,000 as of 07/31/2021

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 03/31/2022

Total Net Assets
$3.45 B
Number of Holdings
100
Weighted Average Market Cap.
5.3 B
P/B Ratio
5.1x
P/E Ratio
22.0x

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

Dividend Payments

For
YTD Dividends Paidas of 05/17/2022
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
02/14/1997 02/18/1997 03/03/1997 $0.00000

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 $27.44

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

Sales Charge Schedule as of 05/17/2022

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $19.01
$50,000 to $99,999 4.75% 4.00% $18.81
$100,000 to $249,999 3.95% 3.25% $18.66
$250,000 to $499,999 2.75% 2.25% $18.43
$500,000 to $999,999 1.95% 1.75% $18.28
$1,000,000 to $5,000,000 0.00% 1.00% $17.92

Expense Ratioas of 04/30/2022

Fund Documents

Fund Documents

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