Focused Small Cap Value Fund

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LMVYX

Focused Small Cap Value Fund

LMVYX

Effective July 1, 2019, the Lord Abbett Micro Cap Value Fund changed its name to Lord Abbett Focused Small Cap Value Fund, and changed its investment strategy. Therefore, the performance of the Fund for periods prior to July 1, 2019 is not representative of the Fund's current investment strategy. In addition, the benchmark index performance information shown is based on the new benchmark which is most appropriate for the new strategy. The change in investment approach may affect the Fund's performance. Please refer to the Fund's prospectus for additional information.

Daily price w/o sales charge as of 12/06/2022

$25.58

$0.28

YTD Returns w/o sales charge as of 12/06/2022

-13.61%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the Focused Small Cap Value Fund?

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

Fund Basicsas of 10/31/2022

Total Net Assets: $134.34 M
Inception Date: 07/09/1999
Dividend Frequency: Annually
Fund Expense Ratio: 0.97%
Number of Holdings: 43
Minimum Initial Investment: +Minimum Exceptions, View Full Disclosure

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

Fund Expense Ratio :

0.97%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

w/o sales charge	-10.77%	-5.46%	8.73%	5.71%	10.78%	12.17%
Lipper Category Avg. Small-Cap Core Funds	-9.44%	-5.02%	8.23%	5.86%	9.84%	-
Russell 2000® Value Index	-8.48%	-4.75%	8.33%	5.35%	9.67%	8.65%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

w/o sales charge	-24.32%	-19.49%	4.85%	3.21%	8.95%	11.47%
Lipper Category Avg. Small-Cap Core Funds	-22.28%	-17.54%	4.58%	3.47%	8.13%	-
Russell 2000® Value Index	-21.12%	-17.69%	4.72%	2.87%	7.94%	8.02%

Fund Expense Ratio :

0.97%

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

INVESTMENT TEAM

John C. Hardy

Portfolio Manager

19 Years of Industry Experience

Supported By 35 Investment Professionals with 19 Years Avg. Industry Experience

Your Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Fund Expense Ratio :

0.97%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

w/o sales charge	-10.77%	-5.46%	8.73%	5.71%	10.78%	12.17%
Lipper Category Avg. Small-Cap Core Funds	-9.44%	-5.02%	8.23%	5.86%	9.84%	-
Russell 2000® Value Index	-8.48%	-4.75%	8.33%	5.35%	9.67%	8.65%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

w/o sales charge	-24.32%	-19.49%	4.85%	3.21%	8.95%	11.47%
Lipper Category Avg. Small-Cap Core Funds	-22.28%	-17.54%	4.58%	3.47%	8.13%	-
Russell 2000® Value Index	-21.12%	-17.69%	4.72%	2.87%	7.94%	8.02%

Fund Expense Ratio :

0.97%

Year	Fund Returns	Russell 2000® Value Index

2021	27.50%	28.27%
2020	8.54%	4.63%
2019	20.72%	22.39%
2018	-9.31%	-12.86%
2017	7.51%	7.84%
2016	30.68%	31.74%
2015	2.06%	-7.47%
2014	-0.22%	4.22%
2013	38.17%	34.52%
2012	18.71%	18.05%
2011	-9.69%	-
2010	27.88%	-
2009	33.66%	-
2008	-39.48%	-
2007	8.76%	-
2006	21.05%	-
2005	17.49%	-
2004	25.32%	-
2003	46.64%	-
2002	-3.39%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2022	-5.04%	-16.50%	-4.55%	-	-13.61%
2021	19.32%	3.81%	-3.24%	6.38%	27.50%
2020	-42.23%	34.36%	0.83%	38.69%	8.54%
2019	11.56%	1.71%	-3.32%	10.05%	20.72%
2018	0.42%	8.56%	1.78%	-18.26%	-9.31%
2017	-0.76%	1.67%	4.32%	2.13%	7.51%
2016	1.03%	7.58%	6.87%	12.50%	30.68%
2015	3.82%	-0.77%	-4.27%	3.49%	2.06%
2014	0.75%	2.73%	-7.57%	4.29%	-0.22%
2013	10.56%	3.34%	7.40%	12.59%	38.17%
2012	13.41%	-5.38%	6.42%	3.95%	18.71%
2011	5.36%	-2.40%	-24.87%	16.89%	-9.69%
2010	9.02%	-6.15%	7.17%	16.63%	27.88%
2009	-10.44%	29.09%	14.61%	0.88%	33.66%
2008	-7.80%	-5.84%	-1.17%	-29.47%	-39.48%
2007	6.39%	8.23%	-2.23%	-3.39%	8.76%
2006	12.21%	1.88%	-0.60%	6.53%	21.05%
2005	2.07%	0.58%	11.85%	2.32%	17.49%
2004	8.41%	3.62%	-1.64%	13.42%	25.32%
2003	-7.96%	26.29%	9.55%	15.15%	46.64%
2002	14.26%	1.09%	-17.93%	1.92%	-3.39%
2001	3.60%	21.40%	-13.51%	17.57%	27.89%
2000	6.00%	16.14%	8.48%	1.82%	35.98%
1999	-	-	-	11.58%	3.88%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV HISTORICAL PRICES

Date	Net Asset Value

Portfolio

Holding	Sector	Assets

EMCOR Group Inc	Industrials	4.0%
International Money Express Inc	Information Technology	4.0%
Cars.com Inc	Communication Services	3.7%
Organon & Co	Health Care	3.6%
SP Plus Corp	Industrials	3.5%
Belden Inc	Information Technology	3.4%
First BanCorp/Puerto Rico	Financials	2.9%
MRC Global Inc	Industrials	2.9%
Columbus McKinnon Corp/NY	Industrials	2.8%
Kemper Corp	Financials	2.8%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding	Sector	Assets

International Money Express Inc	Information Technology	4.7%
EMCOR Group Inc	Industrials	3.6%
Organon & Co	Health Care	3.6%
TrueBlue Inc	Industrials	3.4%
Cars.com Inc	Communication Services	3.3%
First BanCorp/Puerto Rico	Financials	3.3%
SP Plus Corp	Industrials	3.3%
Belden Inc	Information Technology	3.3%
Selective Insurance Group Inc	Financials	3.2%
Chesapeake Energy Corp	Energy	3.1%
Eagle Materials Inc	Materials	3.1%
Eastern Bankshares Inc	Financials	3.0%
Masonite International Corp	Industrials	2.9%
Marcus Corp/The	Communication Services	2.9%
Tenet Healthcare Corp	Health Care	2.9%
Columbus McKinnon Corp/NY	Industrials	2.8%
Pactiv Evergreen Inc	Materials	2.7%
Kemper Corp	Financials	2.7%
Bridge Investment Group Holdings Inc	Financials	2.6%
Sunstone Hotel Investors Inc	Real Estate	2.5%
Wintrust Financial Corp	Financials	2.4%
MRC Global Inc	Industrials	2.3%
Marcus & Millichap Inc	Real Estate	2.3%
Physicians Realty Trust	Real Estate	2.2%
Reynolds Consumer Products Inc	Consumer Staples	2.2%
Sally Beauty Holdings Inc	Consumer Discretionary	2.2%
TechnipFMC PLC	Energy	2.1%
SouthState Corp	Financials	2.0%
Prosperity Bancshares Inc	Financials	2.0%
Stewart Information Services Corp	Financials	1.8%
Heritage Financial Corp/WA	Financials	1.8%
Spectrum Brands Holdings Inc	Consumer Staples	1.6%
NOV Inc	Energy	1.6%
CI Financial Corp	Financials	1.6%
MEG Energy Corp	Energy	1.5%
Dave & Buster's Entertainment Inc	Consumer Discretionary	1.5%
Deckers Outdoor Corp	Consumer Discretionary	1.5%
Boot Barn Holdings Inc	Consumer Discretionary	1.3%
Western Alliance Bancorp	Financials	1.1%
Element Solutions Inc	Materials	1.0%
Kontoor Brands Inc	Consumer Discretionary	0.8%

Sector Allocationas of 10/31/2022

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.0%
Real Estate		0.4%
Utilities		0.0%
Consumer Discretionary		0.4%
Consumer Staples		0.3%
Energy		0.5%
Financials		0.9%
Health Care		0.5%
Industrials		0.0%
Information Technology		1.0%
Materials		1.8%

Portfolio Positioningas of 9/30/2022

The Fund employs a fundamental, bottom-up individual stock selection strategy that focuses on quality companies with compelling valuation over a long term horizon.
We initiated a position in shares of Kontoor Brands, Inc., an American clothing company. The company has strong durable brands of Wrangler & Lee which are gaining strength in the denim market. We believe Wrangler & Lee had previously been underinvested in when under the VF Corporation umbrella and since the spin, have been gaining share and outgrowing the market. While there is likely to be some volatility in the wholesale channel over the short term, we believe we are being adequately compensated for the risk.
We also initiated a position in shares of Boot Barn Holdings, Inc., a lifestyle retail chain. This is a well-managed chain of specialty retail stores with sales consisting of western-style footwear/apparel and a higher-than-average mix of less discretionary workwear. We believe Boot has executed consistently and has a significant store count growth opportunity, supported by strong fundamentals.
We sold the Fund’s position in OUTFRONT Media Inc., which leases advertising space on out-of-home advertising structures and sites. Despite an attractive valuation, we believe OUTFRONT’s business model will be secularly pressured in a post-pandemic world and we exited the position in favor of what we believe to be more attractive investment opportunities.
We also sold the Fund’s position in Turning Point Brands Inc, a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients. Our thesis became increasingly challenged due to a lack of strategic clarity and we exited our position.

PORTFOLIO DETAILS as of 10/31/2022

Total Net Assets: $134.34 M
Number of Holdings: 43
Weighted Average Market Cap.: 3.5 B
P/B Ratio: 2.0x
P/E Ratio: 13.6x

To view definitions for the above Portfolio Details, Click here.

Market Capitalization Breakdown - Morningstar separates stock portfolio holdings into five market-capitalization groups: Giant, Large, Mid, Small, and Micro. Of the 5000 largest domestic stocks in their equities database, the top 1% are categorized as Giant, the next 4% are Large, the next 15% are Mid, the next 30% are Small, and the remaining 50% are Micro. Stocks outside of the largest 5000 are also classified as Micro.

Weighted Average Market Cap - The average market capitalization of all companies held in the portfolio with each company weighted according to its percent held in the portfolio. The result is based upon a weighted average of the securities held in the fund.

P/B Ratio - A ratio that helps determine whether a stock is undervalued or overvalued. It is calculated by dividing a stock's price per share by its book value per share. The result is based upon a weighted average of the securities held in the fund.

P/E Ratio - Is the weighted average of each holding's P/E ratio (price of a stock divided by its earnings per share). The result is based upon a weighted average of the securities held in the fund.

Portfolio Turnover - This is a measure of the Fund’s trading activity which is computed by taking the lesser of purchases or sales divided by average monthly market value, excluding short-term investments. The resulting percentage represents the percentage of the portfolio’s holdings that have changed over the past year.

Fees & Expenses

EXPENSE RATIOas of 11/30/2022

0.97%

Expense ratio details, Click here.

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 02/28/2023. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower.

Fund Documents

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n/a	Portfolio Holdings 1Q Publish Date:11/03/2015
n/a	Portfolio Holdings 3Q Publish Date:11/03/2015
	Summary Prospectus Publish Date:11/03/2015
n/a	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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There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").
Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

IMPORTANT INFORMATION

A Note about Risk: The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Small cap company stocks tend to be more volatile and may be less liquid than large cap company stocks. Small cap companies also may have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies. Investments in value companies can continue to be undervalued for long periods of time and be more volatile than the stock market in general. These factors can adversely affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

Class [A, C, F3, etc.] - The inception date for Class [A, C, etc.] shares is July 1, 2019. The performance quotations for Class [A, C, F3, etc.] for periods prior to July 1, 2019 are based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class [A, C, F3, etc.] shares.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The Russell 2000® Value Index measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Summary

Summary

What is the Focused Small Cap Value Fund?

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

Fund Basicsas of 10/31/2022

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

INVESTMENT TEAM

Your Representative

Performance

Performance

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

Fund Expense Ratio :

0.97%

NAV HISTORICAL PRICES

Portfolio

Portfolio

Sector Allocationas of 10/31/2022

Portfolio Positioningas of 9/30/2022

PORTFOLIO DETAILS as of 10/31/2022

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 11/30/2022

Fund Documents

Fund Documents

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