LMVVX | Focused Small Cap Value Fund Class R5 | Lord Abbett
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Focused Small Cap Value Fund

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 09/30/2020

Total Net Assets
$72.18 M
Inception Date
06/28/2019
Dividend Frequency
Annually
Fund Gross Expense Ratio
1.05%
Fund Net Expense Ratio
1.03%
Number of Holdings
46

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.74% -13.88% -4.35% 4.49% 7.79% -
Lipper Category Avg. Small-Cap Core Funds -14.96% -8.08% -1.73% 5.00% 8.02% -
Russell 2000® Value Index -21.54% -14.88% -5.13% 4.11% 7.09% -

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.74% -13.88% -4.35% 4.49% 7.79% -
Lipper Category Avg. Small-Cap Core Funds -14.96% -8.08% -1.73% 5.00% 8.02% -
Russell 2000® Value Index -21.54% -14.88% -5.13% 4.11% 7.09% -

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

INVESTMENT TEAM

Eli Rabinowich
Eli Rabinowich

Portfolio Manager

16 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

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Performance

Performance

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.74% -13.88% -4.35% 4.49% 7.79% -
Lipper Category Avg. Small-Cap Core Funds -14.96% -8.08% -1.73% 5.00% 8.02% -
Russell 2000® Value Index -21.54% -14.88% -5.13% 4.11% 7.09% -

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.74% -13.88% -4.35% 4.49% 7.79% -
Lipper Category Avg. Small-Cap Core Funds -14.96% -8.08% -1.73% 5.00% 8.02% -
Russell 2000® Value Index -21.54% -14.88% -5.13% 4.11% 7.09% -

Fund Expense Ratio :

Gross 1.05%

Net 1.03%

Year Fund Returns Russell 2000® Value Index
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% -5.50%
2010 27.88% 24.50%
2009 33.66% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 -42.23% 34.36% 0.83% - -18.96%
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 - 29.09% 14.61% 0.88% 33.66%

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 largely on 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 distinct 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 purchased shares of Core Laboratories N.V., an oil and gas reservoir analysis provider. We believe the company has achieved industry-leading operating margins and returns on capital. In our view, Core Lab’s low capital intensity, IP-driven services, and strong track record of free cash flow differentiate it within the oil field services industry. As such, it has historically traded at a premium valuation relative to peers. We believe the recent collapse in oil prices and energy stocks along with compression in the valuation gap has provided a good opportunity to invest in Core Labs at a very attractive normalized free cash flow yield.
  • We sold the Fund’s position in Brinker International, Inc., a restaurant chain operator, consistent with our normalized free cash flow framework. 

PORTFOLIO DETAILS as of 09/30/2020

Total Net Assets
$72.18 M
Number of Holdings
46
Weighted Average Market Cap.
2.0 B
P/B Ratio
1.4x
P/E Ratio
14.4x

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 09/30/2020

Fund Gross Expense Ratio Fund Net Expense Ratio
1.05% 1.03%

Portfolio Positioningas of 09/30/2019

  • The portfolio employs a fundamental, bottom-up individual stock selection strategy that focuses largely on companies with compelling valuation over a long term horizon.
  • We initiated a position in shares of Spectrum Brands, Inc., a global consumer products company. The company recently finished pruning its portfolio of products into a cohesive set of offerings. We believe the share price is inexpensive and the company’s value will soon begin to be recognized.
  • We purchased shares of Comfort Systems USA, Inc., a high quality engineering and construction firm with a focus on HVAC and plumbing systems for the non-residential construction market. We believe the company has produced very strong results through multiple business cycles and given its largely labor-based model, free cash flow generation has been extremely robust and consistent.
  • We sold the portfolio’s position in Milacron Holdings Corp., a plastic manufacturer, after it was announced that the company was being acquired by Hillenbrand, Inc. We sold the portfolio’s position in Beacon Roofing Supply, Inc., a roofing materials distributor, consistent with our sell discipline given more attractive opportunities.

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.

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