LAMAX | Dividend Growth Fund Class A | Lord Abbett

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Dividend Growth Fund

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Summary

Summary

What is the Dividend Growth Fund?

The Fund seeks to deliver total return by investing primarily in stocks of large U.S. companies that have a history of increasing their dividends.

HIGH-QUALITY UNIVERSE

Companies with consistent dividend growth are often market leaders with stable business models, strong balance sheets, and management teams committed to shareholders.

LOWER RISK PROFILE

Focusing on U.S. companies that have consistently grown their dividends often provides investors with an equity portfolio that has a lower risk profile than the broader market.

GROWTH AND RISING INCOME

A portfolio of consistent dividend growers may provide investors with long-term growth and rising income. Many of these companies have grown their dividends much faster than inflation.

Fund Basicsas of 12/30/2022

Total Net Assets
$3.52 B
Inception Date
12/27/2001
Dividend Frequency
Quarterly
Number of Holdings
56
Minimum Initial Investment
$1,000+

Expense Ratioas of 12/31/2022

Yield

12-Month Dividend Yield 1 as of 01/26/2023  

w/o sales charge 0.96%
w/ sales charge 0.90%

30-Day Standardized Yield 2 as of 12/31/2022  

0.76%
 
 

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/27/2001
w/o sales charge -13.53% -13.53% 7.87% 8.64% 11.20% 8.35%
Lipper Category Avg. Equity Income Funds -7.36% -7.36% 6.59% 6.99% 9.90% -
S&P 500 Index -18.11% -18.11% 7.66% 9.42% 12.56% 7.97%
w/ sales charge -18.48% -18.48% 5.75% 7.36% 10.55% 8.05%

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/27/2001
w/o sales charge -13.53% -13.53% 7.87% 8.64% 11.20% 8.35%
Lipper Category Avg. Equity Income Funds -7.36% -7.36% 6.59% 6.99% 9.90% -
S&P 500 Index -18.11% -18.11% 7.66% 9.42% 12.56% 7.97%
w/ sales charge -18.48% -18.48% 5.75% 7.36% 10.55% 8.05%

Fund Expense Ratio :

0.91%

RELATED CONTENT

How Companies Are Navigating Rising Cost Pressures
October 19, 2021

Lord Abbett Portfolio Manager Darnell Azeez, CFA discusses why he and his team are laser focused on third quarter earnings, and whether companies are able to maintain margins while navigating rising cost pressures.

Holdings as of 12/30/2022View Portfolio

Holding Assets
Microsoft Corp 6.6%
Exxon Mobil Corp 4.0%
UnitedHealth Group Inc 3.6%
Mastercard Inc 3.3%
NextEra Energy Inc 3.1%
Bank of America Corp 3.0%
Morgan Stanley 2.8%
Apple Inc 2.7%
Ameriprise Financial Inc 2.6%
Coca-Cola Co/The 2.6%
% of Total Assets 34.4%

INVESTMENT TEAM

Darnell Azeez
Darnell Azeez, CFA

Managing Director, Portfolio Manager

20 Years of Industry Experience

Marc O. Pavese
Marc O. Pavese, Ph.D.

Partner, Head of Data-Driven Insights

22 Years of Industry Experience

Jeffrey Rabinowitz
Jeffrey Rabinowitz, CFA

Portfolio Manager

23 Years of Industry Experience

Servesh Tiwari
Servesh Tiwari, CFA

Portfolio Manager

16 Years of Industry Experience

Subrata Ghose
Subrata Ghose, CFA

Portfolio Manager

27 Years of Industry Experience

Supported By 34 Investment Professionals with 19 Years Avg. Industry Experience

Your Representative

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Performance

Performance

12-Month Dividend Yield 1 as of 01/26/2023  

w/o sales charge 0.96%
w/ sales charge 0.90%

30-Day Standardized Yield 2 as of 12/31/2022  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.76% 0.76%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/27/2001
w/o sales charge -13.53% -13.53% 7.87% 8.64% 11.20% 8.35%
Lipper Category Avg. Equity Income Funds -7.36% -7.36% 6.59% 6.99% 9.90% -
S&P 500 Index -18.11% -18.11% 7.66% 9.42% 12.56% 7.97%
w/ sales charge -18.48% -18.48% 5.75% 7.36% 10.55% 8.05%

Fund Expense Ratio :

0.91%

Fund Expense Ratio :

0.91%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/27/2001
w/o sales charge -13.53% -13.53% 7.87% 8.64% 11.20% 8.35%
Lipper Category Avg. Equity Income Funds -7.36% -7.36% 6.59% 6.99% 9.90% -
S&P 500 Index -18.11% -18.11% 7.66% 9.42% 12.56% 7.97%
w/ sales charge -18.48% -18.48% 5.75% 7.36% 10.55% 8.05%

Fund Expense Ratio :

0.91%

Year Fund Returns S&P 500 Index
2022 -13.53% -18.11%
2021 25.67% 28.71%
2020 15.50% 18.40%
2019 26.58% 31.49%
2018 -4.73% -4.38%
2017 19.09% 21.83%
2016 15.13% 11.96%
2015 -2.38% 1.38%
2014 11.56% 13.69%
2013 27.96% 32.39%
2012 13.05% -
2011 -0.23% -
2010 14.81% -
2009 23.21% -
2008 -27.29% -
2007 3.03% -
2006 14.78% -
2005 3.65% -
2004 16.72% -
2003 21.79% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 3.13%
2022 -6.73% -12.38% -4.39% 10.67% -13.53%
2021 4.27% 7.50% 0.12% 11.98% 25.67%
2020 -19.86% 19.16% 9.55% 10.40% 15.50%
2019 11.93% 3.96% 4.32% 4.27% 26.58%
2018 -2.75% 1.25% 8.40% -10.74% -4.73%
2017 4.37% 2.53% 3.38% 7.65% 19.09%
2016 6.06% 4.89% 0.76% 2.71% 15.13%
2015 -0.12% -2.21% -5.73% 6.01% -2.38%
2014 1.52% 4.69% -1.43% 6.50% 11.56%
2013 10.47% 1.27% 5.31% 8.61% 27.96%
2012 10.90% -3.82% 5.76% 0.22% 13.05%
2011 5.52% -0.22% -13.93% 10.10% -0.23%
2010 4.78% -8.15% 10.21% 8.24% 14.81%
2009 -5.29% 9.90% 12.47% 5.25% 23.21%
2008 -8.66% -0.42% -9.07% -12.09% -27.29%
2007 3.47% 4.17% -1.18% -3.26% 3.03%
2006 2.32% 0.64% 3.27% 7.93% 14.78%
2005 -1.04% 1.92% 2.63% 0.13% 3.65%
2004 3.53% 1.67% 1.96% 8.76% 16.72%
2003 -6.08% 11.96% 2.98% 12.47% 21.79%
2002 7.39% -5.36% -13.24% 4.70% -7.68%
2001 - - - - 0.00%

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 overweight in NextEra Energy, an electric power and energy infrastructure company, relative to its benchmark, the S&P 500 Index, as of December 31, 2022. We continue to view NextEra as a standout performer in the electric utility industry as they grow both their regulated and non-regulated businesses. We believe they are a top renewable energy play and will benefit as the demand for renewables continues to rise.
  • The Fund is also overweight relative to the benchmark in Ameriprise Financial, Inc., a financial services company. We believe Ameriprise’s advice and wealth management business will help to sustain higher margins as they won’t have to pay as much on the liability side. We also believe that steady flows in the wealth business should withstand a potential economic slowdown and remain positive.
  • The Fund is overweight relative to the benchmark in Mastercard Incorporated, a payment-processing corporation. We believe the company is attractively valued given the resiliency of the business model during an economic downturn, along with continued cross-border travel recovery in coming quarters. 

PORTFOLIO DETAILS as of 12/30/2022

Total Net Assets
$3.52 B
Number of Holdings
56
Weighted Average Market Cap.
331.6 B
P/B Ratio
4.7x
P/E Ratio
22.0x

Contributors & Detractors as of  12/30/2022

Contributors

Holding Contribution
Exxon Mobil Corp. 0.7%
Air Products and Chemicals Inc 0.6%
Ameriprise Financial Inc 0.5%
Honeywell International, Inc. 0.5%
United Technologies Corp. 0.5%

Detractors

Holding Contribution
Apple, Inc. -0.2%
West Pharmaceutical Services Inc -0.1%
Jack Henry & Associates Inc -0.1%
Pool Corp 0.0%
S&P Emini Futures 0.0%

Attribution Analysis 

Dividend 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
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/27/2022 12/28/2022 12/28/2022 $0.03950 $16.74
09/28/2022 09/29/2022 09/29/2022 $0.03080 $16.32
06/28/2022 06/29/2022 06/29/2022 $0.06030 $16.89
03/29/2022 03/30/2022 03/30/2022 $0.03620 $19.61

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
03/29/2023 03/30/2023 03/30/2023
06/28/2023 06/29/2023 06/29/2023
09/27/2023 09/28/2023 09/28/2023
12/26/2023 12/27/2023 12/27/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2022 12/20/2022 $0.8267 - $0.8267 $16.79

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% $18.51
$50,000 to $99,999 4.75% 4.00% $18.32
$100,000 to $249,999 3.95% 3.25% $18.17
$250,000 to $499,999 2.75% 2.25% $17.94
$500,000 to $999,999 1.95% 1.75% $17.80
$1,000,000 to $5,000,000 0.00% 1.00% $17.45

EXPENSE RATIOas of 12/31/2022

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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