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 12/30/2022

Total Net Assets
$2.52 B
Inception Date
10/10/1973
Dividend Frequency
Annually
Number of Holdings
92
Minimum Initial Investment
$1,000+

Expense Ratioas of 12/31/2022

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -36.09% -36.09% 2.40% 8.28% 10.77% 10.29%
Lipper Category Avg. Small-Cap Growth Funds -26.66% -26.66% 3.55% 6.14% 9.96% -
Russell 2000® Growth Index -26.36% -26.36% 0.65% 3.51% 9.20% -
w/ sales charge -39.77% -39.77% 0.39% 7.01% 10.12% 10.15%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -36.09% -36.09% 2.40% 8.28% 10.77% 10.29%
Lipper Category Avg. Small-Cap Growth Funds -26.66% -26.66% 3.55% 6.14% 9.96% -
Russell 2000® Growth Index -26.36% -26.36% 0.65% 3.51% 9.20% -
w/ sales charge -39.77% -39.77% 0.39% 7.01% 10.12% 10.15%

Fund Expense Ratio :

0.94%

TEN LARGEST HOLDINGS as of 12/30/2022View Portfolio

Holding Assets
Calix Inc 2.9%
Crocs Inc 2.7%
Krystal Biotech Inc 2.3%
Inspire Medical Systems Inc 2.1%
Xenon Pharmaceuticals Inc 2.1%
Clear Secure Inc 2.0%
Cytokinetics Inc 2.0%
Planet Fitness Inc 2.0%
Apellis Pharmaceuticals Inc 1.8%
Comfort Systems USA Inc 1.8%

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 :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -36.09% -36.09% 2.40% 8.28% 10.77% 10.29%
Lipper Category Avg. Small-Cap Growth Funds -26.66% -26.66% 3.55% 6.14% 9.96% -
Russell 2000® Growth Index -26.36% -26.36% 0.65% 3.51% 9.20% -
w/ sales charge -39.77% -39.77% 0.39% 7.01% 10.12% 10.15%

Fund Expense Ratio :

0.94%

Fund Expense Ratio :

0.94%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/10/1973
w/o sales charge -36.09% -36.09% 2.40% 8.28% 10.77% 10.29%
Lipper Category Avg. Small-Cap Growth Funds -26.66% -26.66% 3.55% 6.14% 9.96% -
Russell 2000® Growth Index -26.36% -26.36% 0.65% 3.51% 9.20% -
w/ sales charge -39.77% -39.77% 0.39% 7.01% 10.12% 10.15%

Fund Expense Ratio :

0.94%

Year Fund Returns Russell 2000® Growth Index
2022 -36.09% -26.36%
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% -
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% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 7.79%
2022 -19.27% -21.16% 0.59% -0.18% -36.09%
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 12/31/2022

  • The Fund is designed and managed to provide investors with access to the most innovative, high-growth companies in their respective industries. Our investment research process is iterative and continuous and includes three primary components: 1) identifying innovators and superior businesses, 2) assessing and quantifying operating momentum, and 3) assessing and quantifying stock price momentum
  • Following the November CPI print, we are cautiously optimistic that the peak in inflation and the accelerated pace of Fed rate hikes is behind us. While the decline in inflation to historical norms will not be linear, several leading indicators suggest that headline inflation numbers have a downward bias for the foreseeable future.  However, the labor market remains stubbornly strong, which the Fed views as an “issue,” and earnings within the technology sector are increasingly at risk -particularly in software, for example.  Outside of technology and materials, Q3 earnings were rather resilient, and we question the market’s overly negative view on earnings in 2023 given margin tailwinds, a softening dollar, and a resilient consumer. Small caps, in particular, have begun to show some outperformance on the heels of this resilience, with escalating growth concerns from FAANG adding some ammunition.
  • From a technical standpoint, we continue to see signs of a market bottoming process, but markets are still shaky. Market trend, as measured by Investor's Business Daily (IBD), closed the year in a downtrend as general markets failed to hold their moving averages. Market breadth also retreated after showing some improvements throughout November. Finally, we saw an uptick in pullbacks and downtrends over the final few weeks of the year.
  • Looking ahead into 2023 and beyond, our view continues to be that 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. However, until that happens, we are likely to continue to face a hostile Fed.
  • We remain bullish on the long-term outlook for equities because the technology revolution is ever more powerful with each passing year. However, we expect to see a broadening out of market leadership in areas across innovation, such as consumer, health care, and technology, as well as in less commonly perceived innovative sectors such as industrials and energy. 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.

Portfolio Details as of 12/30/2022

Total Net Assets
$2.52 B
Number of Holdings
92
Weighted Average Market Cap.
4.8 B
P/B Ratio
5.4x
P/E Ratio
25.0x

Contributors & Detractors as of  12/30/2022

Contributors

Holding Contribution
Crocs Inc 0.9%
Inspire Med Sys Inc 0.6%
Axon Enterprise Inc 0.5%
Rambus Inc 0.5%
Transmedics Group Inc 0.4%

Detractors

Holding Contribution
Shockwave Med Inc -0.6%
Sweetgreen Inc -0.5%
Chart Industries, Inc. -0.5%
Apellis Pharmaceuticals -0.5%
Lantheus Hldgs Inc -0.5%

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 01/26/2023
$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
11/20/2023 11/21/2023 11/21/2023

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

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 01/26/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $19.38
$50,000 to $99,999 4.75% 4.00% $19.18
$100,000 to $249,999 3.95% 3.25% $19.02
$250,000 to $499,999 2.75% 2.25% $18.79
$500,000 to $999,999 1.95% 1.75% $18.63
$1,000,000 to $5,000,000 0.00% 1.00% $18.27

Expense Ratioas of 12/31/2022

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
Publish Date:11/03/2015
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Portfolio Holdings 3Q
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Statutory Prospectus
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SAI
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Annual Report
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Semi-Annual Report
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Fact Sheet
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Commentary
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Fund Story
Publish Date:11/03/2015

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