LFLTX� | Focused Large Cap Value Fund Class R5 | Lord Abbett
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Focused Large Cap Value Fund

Summary

Summary

What is the Focused Large Cap Value Fund?

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

Fund Basicsas of 09/30/2020

Total Net Assets
$365.05 M
Inception Date
08/01/2019
Dividend Frequency
Annually
Fund Gross Expense Ratio
4.15%
Fund Net Expense Ratio
0.71%
Number of Holdings
35

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -15.82% -10.79% - - - -9.89%
Lipper Category Avg. Large-Cap Value Funds -10.49% -3.46% - - - -
Russell 1000® Value Index -11.58% -5.02% - - - -3.89%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -15.82% -10.79% - - - -9.89%
Lipper Category Avg. Large-Cap Value Funds -10.49% -3.46% - - - -
Russell 1000® Value Index -11.58% -5.02% - - - -3.89%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

TEN LARGEST HOLDINGS as of 09/30/2020

Holding Assets
Discover Financial Services 3.8%
Dow Inc 3.8%
Lowe's Cos, Inc. 3.8%
Ameriprise Financial, Inc. 3.7%
Nexstar Broadcasting Group, Inc. 3.7%
Spectrum Brands Holdings Inc 3.7%
Eldorado Resorts, Inc. 3.5%
Comcast Corp. 3.4%
Fidelity National Financial Group 3.4%
Invesco Ltd. 3.4%

INVESTMENT TEAM

Eli Rabinowich
Eli Rabinowich

Portfolio Manager

16 Years of Industry Experience

Jeff Diamond
Jeff Diamond, CFA

Portfolio Manager

33 Years of Industry Experience

John C. Hardy
John C. Hardy

Portfolio Manager

17 Years of Industry Experience

Supported By 34 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

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Performance

Performance

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -15.82% -10.79% - - - -9.89%
Lipper Category Avg. Large-Cap Value Funds -10.49% -3.46% - - - -
Russell 1000® Value Index -11.58% -5.02% - - - -3.89%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/31/2019
w/o sales charge -15.82% -10.79% - - - -9.89%
Lipper Category Avg. Large-Cap Value Funds -10.49% -3.46% - - - -
Russell 1000® Value Index -11.58% -5.02% - - - -3.89%

Fund Expense Ratio :

Gross 4.15%

Net 0.71%

Year Fund Returns Russell 1000® Value Index
2019 5.19% 26.54%
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -36.10% 29.04% 2.09% - -15.50%
2019 - - - 5.97% 5.19%

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioningas of 06/30/2020

  • The Fund employs a fundamental, bottom-up individual stock selection strategy that focuses on quality companies with compelling valuation over a long term horizon.
  • Given our longer-term orientation and the focus we place on normalized free cash flow, we believe we have a unique ability to look through some of the shorter-term impacts on companies due to the global pandemic, and we continue to look for opportunities amid the volatility. As a result, we have been able to methodically upgrade the Fund in areas that have been particularly impacted by adhering to our process.
  • We initiated a position in shares of AbbVie, Inc., a global biopharmaceutical company that develops and markets therapies focused on autoimmune diseases, oncology, neurological disorders, as well as other serious health conditions. AbbVie’s stock has been under pressure due to the uncertainty associated with the 2023 patent expiration for its largest drug, Humira. We believe that investors underappreciate the potential of the company’s recent acquisition of Allergan, its pipeline of potential new medicines and management’s business development acumen to mitigate the impact of Humira’s loss of exclusivity.
  • We sold the Fund’s position in shares of AXA SA, an insurance and asset management services provider, consistent with our normalized free cash flow framework.

PORTFOLIO DETAILS as of 09/30/2020

Total Net Assets
$365.05 M
Number of Holdings
35
Weighted Average Market Cap.
64.7 B
P/B Ratio
1.5x
P/E Ratio
14.5x

Contributors & Detractors as of  09/30/2020

Contributors

Holding Contribution
Eldorado Resorts, Inc. 0.8%
Spectrum Brands Hldgs I 0.8%
Lowe's Cos, Inc. 0.8%
Dow Inc 0.6%
Discover Financial Services 0.6%

Detractors

Holding Contribution
Citigroup, Inc. -0.5%
National Oilwell Varco, Inc. -0.4%
Intel Corp. -0.3%
Marathon Petroleum Corp. -0.3%
AbbVie, Inc. -0.3%

Attribution Analysis 

Focused Large Cap Value Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
4.15% 0.71%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
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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Class R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

The Russell 1000® Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.

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