LFGCX | Focused Growth Fund Class C | Lord Abbett

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Focused Growth Fund

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Summary

Summary

What is the Focused Growth Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of U.S. companies.

 

Fund Basicsas of 03/31/2022

Total Net Assets
$45.39 M
Inception Date
02/01/2019
Dividend Frequency
Monthly (Daily Accrual)
Fund Gross Expense Ratio
2.24%
Fund Net Expense Ratio
1.80%
Number of Holdings
31
Minimum Initial Investment
$1,500+

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

Holding Assets
Alphabet Inc 10.2%
Microsoft Corp 9.9%
Apple Inc 9.1%
Tesla Inc 8.6%
NVIDIA Corp 4.7%
Amazon.com Inc 4.1%
Arista Networks Inc 3.6%
Mastercard Inc 3.4%
Costco Wholesale Corp 2.9%
QUALCOMM Inc 2.9%

INVESTMENT TEAM

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

Partner & Portfolio Manager

34 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

20 Years of Industry Experience

Matthew R. DeCicco
Matthew R. DeCicco, CFA

Partner & Director of Equities

21 Years of Industry Experience

Supported By 41 Investment Professionals with 19 Years Avg. Industry Experience

Your Representative

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Performance

Performance

Fund Expense Ratio :

Gross 2.24%

Net 1.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge -25.19% -19.24% 17.31% - - 19.46%
Lipper Category Avg. Multi-Cap Growth Funds -23.60% -17.57% 10.92% - - -
Russell 1000® Growth Index -20.03% -5.35% 16.68% - - 19.22%
w/ sales charge -25.94% -19.94% 17.31% - - 19.46%

Fund Expense Ratio :

Gross 2.24%

Net 1.80%

Fund Expense Ratio :

Gross 2.24%

Net 1.80%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge -13.19% -0.15% 24.62% - - 25.80%
Lipper Category Avg. Multi-Cap Growth Funds -12.54% -0.08% 17.70% - - -
Russell 1000® Growth Index -9.04% 14.98% 23.60% - - 24.74%
w/ sales charge -14.05% -1.01% 24.62% - - 25.80%

Fund Expense Ratio :

Gross 2.24%

Net 1.80%

Year Fund Returns Russell 1000® Growth Index
2021 12.08% 27.60%
2020 84.73% 38.49%
2019 14.93% 36.39%
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -13.19% - - - -30.05%
2021 -2.55% 9.43% -0.25% 5.37% 12.08%
2020 -7.42% 41.73% 21.00% 16.36% 84.73%
2019 - 4.25% -8.51% 12.90% 14.93%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas 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 U.S. Federal Reserve (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.
  • We are now at the low end of our holdings range, which in this strategy is a sign of defensiveness. It means that fewer companies are meeting our criteria of being an innovator and superior business with strong operating momentum and positive price momentum. It also means we are gravitating more towards larger and megacap names that have served as portfolio stabilizers in recent years, even though their organic growth has slowed from what it once was. Additionally, a greater percentage of the portfolio is in stocks we would likely not own in a more positive environment, in that they are less-dynamic innovators, have lower Research & Development investment, and have lower intrinsic volatility with more predictability around earnings in the near term.

PORTFOLIO DETAILS as of 03/31/2022

Total Net Assets
$45.39 M
Number of Holdings
31
Weighted Average Market Cap.
957.7 B
P/B Ratio
13.3x
P/E Ratio
34.6x

Contributors & Detractors as of  03/31/2022

Contributors

Holding Contribution
Deere & Co. 0.3%
Vertex Pharmaceuticals Inc 0.2%
Cheniere Energy Inc 0.2%
Qualtrics Intl Inc 0.1%
Palo Alto Networks Inc 0.1%

Detractors

Holding Contribution
EPAM Systems Inc -1.3%
Advanced Micro Devices, Inc. -0.9%
Microsoft Corp. -0.8%
Intuit Inc -0.6%
Trimble Navigation Ltd. -0.6%

Attribution Analysis 

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

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 04/30/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
2.24% 1.80%

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

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