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 04/28/2023

Total Net Assets
$30.09 M
Inception Date
02/01/2019
Dividend Frequency
Monthly (Daily Accrual)
Fund Gross Expense Ratio
1.54%
Fund Net Expense Ratio
1.05%
Number of Holdings
32
Minimum Initial Investment
$1,500+

TEN LARGEST HOLDINGS as of 04/28/2023View Portfolio

Holding Assets
Apple Inc 8.8%
NVIDIA Corp 6.6%
Microsoft Corp 5.7%
Shopify Inc 4.3%
MercadoLibre Inc 4.2%
Advanced Micro Devices Inc 4.0%
Meta Platforms Inc 3.9%
Arista Networks Inc 3.8%
Lattice Semiconductor Corp 3.6%
Netflix Inc 3.6%

INVESTMENT TEAM

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

Partner & Portfolio Manager

36 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

22 Years of Industry Experience

Matthew R. DeCicco
Matthew R. DeCicco, CFA

Partner & Director of Equities

23 Years of Industry Experience

Supported By 44 Investment Professionals with 17 Years Avg. Industry Experience

Your Representative

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Performance

Performance

Fund Expense Ratio :

Gross 1.54%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge 15.70% 0.19% 7.27% - - 13.26%
Lipper Category Avg. Multi-Cap Growth Funds - - - - - -
Russell 1000® Growth Index 20.76% 9.55% 12.85% - - 15.88%
w/ sales charge 9.05% -5.57% 5.18% - - 11.71%

Fund Expense Ratio :

Gross 1.54%

Net 1.05%

Fund Expense Ratio :

Gross 1.54%

Net 1.05%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/31/2019
w/o sales charge 11.43% -21.93% 15.43% - - 12.80%
Lipper Category Avg. Multi-Cap Growth Funds 11.36% -15.04% 13.52% - - -
Russell 1000® Growth Index 14.37% -10.90% 18.58% - - 15.05%
w/ sales charge 5.02% -26.42% 13.18% - - 11.20%

Fund Expense Ratio :

Gross 1.54%

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 11.43% - - - 17.92%
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 03/31/2023

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas of 03/31/2023

  • 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

  • Our positive view of the market was tested in March amid turmoil within the regional banking industry. In particular, the failure of Silicon Valley Bank was challenging given its outsized role financing innovation companies. While we work to better understand the medium-term implications, we believe there will likely be a bifurcation between companies that receive funding, and those that do not. Speculative business models with less tangible proof-of-concept products will likely come under pressure, while higher-quality, innovative companies with unique value propositions and strong management teams will continue to receive funding and potentially extend their market shares. This may, in turn, lead to a shortage in initial public offerings in the coming years, which could further solidify the competitive moats of these higher-quality businesses.

  • On the monetary front, we expect the Fed to pause its rate hiking cycle soon, although this remains contingent on inflation and labor reports moderating as the Fed clearly remains “data dependent.” We believe a Fed pause, not necessarily a cut, is enough of a positive catalyst for the markets as it removes the key headwind to growth stocks over the past year. Overall, we believe a neutral central bank and moderating inflation creates a strong backdrop for equities - particularly for quality market leaders within the growth sectors that our strategies specialize in. Lastly, from a technical standpoint, indices have largely tested and held key levels so we continue to lean positive, understanding the macro backdrop remains, at minimum, uncertain. We are especially encouraged by the Nasdaq Composite’s technical profile, as the most recent “flight to quality” trade resulted in mega-cap tech outperforming the broader market.

  • With an uncertain macro backdrop likely to persist, we remain focused on companies that possess quality business models (i.e., high moats, high margins, and great balance sheets), as well as both positive operating and price momentum.  As such, over the quarter, we continued to add to our favorite growth names with idiosyncratic secular drivers that are less impacted by current macro headwinds – primarily within areas such as fintech, communication services, technology, and healthcare. We also reduced risk where prudent, cutting positions in companies that will require near-term funding, as well as positions in areas that are most vulnerable to the regional bank fallout and/or higher market volatility. Looking ahead, as interest rates and inflation potentially become secondary to fundamentals, we see increased opportunities for alpha generation. Many innovative companies faced dramatic valuation compression over the last two years and we believe many of these companies are now offering attractive risk/reward profiles. We also continue to expect communications services, consumer discretionary, small- and mid-cap health care, select industrials, and technology to lead the market higher.

PORTFOLIO DETAILS as of 04/28/2023

Total Net Assets
$30.09 M
Number of Holdings
32
Weighted Average Market Cap.
505.9 B
P/B Ratio
11.1x
P/E Ratio
44.3x

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 06/02/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $22.55
$50,000 to $99,999 4.75% 4.00% $22.31
$100,000 to $249,999 3.95% 3.25% $22.12
$250,000 to $499,999 2.75% 2.25% $21.85
$500,000 to $999,999 1.95% 1.75% $21.67
$1,000,000 to $5,000,000 0.00% 1.00% $21.25

EXPENSE RATIOas of 04/30/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.54% 1.05%

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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