LFGAX | Focused Growth Fund Class A | Lord Abbett

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(as of 12/05/2015)

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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 12/30/2022

Total Net Assets
$35.14 M
Inception Date
02/01/2019
Dividend Frequency
Monthly (Daily Accrual)
Number of Holdings
33
Minimum Initial Investment
$1,500+

Expense Ratioas of 12/31/2022

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

Holding Assets
Apple Inc 8.7%
Microsoft Corp 6.6%
Mastercard Inc 4.4%
Dexcom Inc 4.0%
Shopify Inc 3.6%
Intuitive Surgical Inc 3.5%
Deere & Co 3.3%
MercadoLibre Inc 3.1%
Netflix Inc 3.1%
Calix Inc 3.0%

INVESTMENT TEAM

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

Partner & Portfolio Manager

35 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

21 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 1.49%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge 7.27% -25.08% 9.62% - - 12.28%
Lipper Category Avg. Multi-Cap Growth Funds - - - - - -
Russell 1000® Growth Index 8.33% -16.02% 9.89% - - 14.15%
w/ sales charge 1.10% -29.38% 7.48% - - 10.62%

Fund Expense Ratio :

Gross 1.49%

Net 1.05%

Fund Expense Ratio :

Gross 1.49%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge -39.06% -39.06% 8.60% - - 10.56%
Lipper Category Avg. Multi-Cap Growth Funds -32.92% -32.92% 3.73% - - -
Russell 1000® Growth Index -29.14% -29.14% 7.79% - - 12.16%
w/ sales charge -42.56% -42.56% 6.48% - - 8.89%

Fund Expense Ratio :

Gross 1.49%

Net 1.05%

Year Fund Returns Russell 1000® Growth Index
2022 -39.06% -29.14%
2021 12.94% 27.60%
2020 86.10% 38.49%
2019 15.67% 36.39%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 9.82%
2022 -13.02% -24.49% -1.91% -5.41% -39.06%
2021 -2.35% 9.65% -0.06% 5.55% 12.94%
2020 -7.20% 41.99% 21.17% 16.56% 86.10%
2019 - 4.43% -8.30% 13.03% 15.67%

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

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas 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
$35.14 M
Number of Holdings
33
Weighted Average Market Cap.
392.0 B
P/B Ratio
8.3x
P/E Ratio
36.8x

Contributors & Detractors as of  12/30/2022

Contributors

Holding Contribution
Mastercard Inc 0.8%
United Technologies Corp. 0.4%
Eli Lilly and Co 0.4%
Lululemon Athletica Inc 0.4%
Sarepta Therapeutics Inc 0.3%

Detractors

Holding Contribution
Tesla Motors, Inc. -1.5%
Atlassian Corporation -1.0%
Coupang Inc -0.8%
Amazon.com, Inc. -0.7%
Shockwave Med Inc -0.5%

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

Sales Charge Schedule as of 02/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $21.00
$50,000 to $99,999 4.75% 4.00% $20.78
$100,000 to $249,999 3.95% 3.25% $20.60
$250,000 to $499,999 2.75% 2.25% $20.35
$500,000 to $999,999 1.95% 1.75% $20.18
$1,000,000 to $5,000,000 0.00% 1.00% $19.79

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
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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