LDFVX | Fundamental Equity Fund Class A | Lord Abbett

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Fundamental Equity Fund

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Daily price w/o sales charge as of 12/01/2023

$12.86

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YTD Returns w/o sales charge as of 12/01/2023

9.11%

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

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Summary

Summary

What is the Fundamental Equity Fund?

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

Fund Basicsas of 10/31/2023

Total Net Assets
$1.75 B
Inception Date
07/15/1996
Dividend Frequency
Annually
Fund Gross Expense Ratio
0.96%
Fund Net Expense Ratio
0.96%
Number of Holdings
61
Minimum Initial Investment
$1,500+

Yield

12-Month Dividend Yield 1 as of 12/01/2023  

w/o sales charge 0.86%
w/ sales charge 0.81%

30-Day Standardized Yield 2 as of 10/31/2023  

0.82%

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 8.26% 3.31% 9.33% 7.72% 7.46% 9.29%
Lipper Category Avg. Multi-Cap Value Funds - - - - - -
Russell 1000® Value Index 5.61% 1.35% 8.27% 7.52% 8.09% 8.67%
w/ sales charge 2.00% -2.63% 7.20% 6.44% 6.82% 9.05%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 2.52% 14.63% 11.41% 6.03% 7.45% 9.13%
Lipper Category Avg. Multi-Cap Value Funds 2.38% 15.23% 12.34% 6.22% 8.06% -
Russell 1000® Value Index 1.79% 14.44% 11.05% 6.23% 8.45% 8.58%
w/ sales charge -3.41% 8.07% 9.23% 4.79% 6.82% 8.89%

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

Returns with sales charges reflect a maximum sales charge of 5.75%.

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.

TEN LARGEST HOLDINGS as of 10/31/2023View Portfolio

Holding Assets
JPMorgan Chase & Co 3.5%
Alphabet Inc 2.8%
Shell PLC 2.8%
Schlumberger NV 2.5%
Pioneer Natural Resources Co 2.5%
Microsoft Corp 2.5%
Allstate Corp/The 2.5%
UnitedHealth Group Inc 2.4%
Chesapeake Energy Corp 2.3%
Molina Healthcare Inc 2.2%

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.

Sector Allocationas of 10/31/2023View Portfolio

Sector Weighting
Sector Weighting
Communication Services
Real Estate
Utilities
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials

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Performance

Performance

12-Month Dividend Yield 1 as of 12/01/2023  

w/o sales charge 0.86%
w/ sales charge 0.81%

30-Day Standardized Yield 2 as of 10/31/2023  

  Subsidized5 Un-Subsidized6
w/o sales charge 0.82% 0.82%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 8.26% 3.31% 9.33% 7.72% 7.46% 9.29%
Lipper Category Avg. Multi-Cap Value Funds - - - - - -
Russell 1000® Value Index 5.61% 1.35% 8.27% 7.52% 8.09% 8.67%
w/ sales charge 2.00% -2.63% 7.20% 6.44% 6.82% 9.05%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 07/15/1996
w/o sales charge 2.52% 14.63% 11.41% 6.03% 7.45% 9.13%
Lipper Category Avg. Multi-Cap Value Funds 2.38% 15.23% 12.34% 6.22% 8.06% -
Russell 1000® Value Index 1.79% 14.44% 11.05% 6.23% 8.45% 8.58%
w/ sales charge -3.41% 8.07% 9.23% 4.79% 6.82% 8.89%

Fund Expense Ratio :

Gross 0.96%

Net 0.96%

Returns with sales charges reflect a maximum sales charge of 5.75%.

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.

Year Fund Returns Russell 1000® Value Index
2022 -9.45% -7.54%
2021 29.02% 25.16%
2020 2.64% 2.80%
2019 22.76% 26.54%
2018 -8.45% -8.27%
2017 12.97% 13.66%
2016 15.74% 17.34%
2015 -3.14% -3.83%
2014 6.93% 13.45%
2013 36.63% 32.53%
2012 10.74% -
2011 -3.92% -
2010 19.21% -
2009 25.86% -
2008 -28.75% -
2007 7.48% -
2006 13.64% -
2005 5.48% -
2004 15.61% -
2003 31.93% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 0.17% 4.79% -2.32% - 9.11%
2022 -2.46% -13.49% -4.03% 11.81% -9.45%
2021 10.44% 5.10% 1.43% 9.59% 29.02%
2020 -26.90% 16.57% 4.31% 15.47% 2.64%
2019 10.90% 2.16% 1.96% 6.27% 22.76%
2018 -2.47% -0.55% 6.29% -11.19% -8.45%
2017 1.55% 2.21% 3.13% 5.54% 12.97%
2016 -0.42% 4.69% 3.83% 6.93% 15.74%
2015 -0.45% 0.82% -8.73% 5.73% -3.14%
2014 0.20% 2.87% 0.00% 3.74% 6.93%
2013 13.37% 3.49% 6.15% 9.70% 36.63%
2012 11.31% -6.90% 5.18% 1.59% 10.74%
2011 6.50% -0.94% -19.59% 13.26% -3.92%
2010 6.44% -10.72% 10.55% 13.47% 19.21%
2009 -8.56% 12.91% 16.14% 4.96% 25.86%
2008 -7.52% 1.24% -8.38% -16.94% -28.75%
2007 2.19% 5.79% 2.10% -2.62% 7.48%
2006 7.63% -0.24% 1.18% 4.59% 13.64%
2005 -2.00% -0.17% 5.87% 1.84% 5.48%
2004 3.22% 1.38% -0.36% 10.88% 15.61%
2003 -3.21% 15.84% 2.98% 14.27% 31.93%
2002 3.62% -8.89% -14.47% 6.00% -14.41%
2001 -7.84% 5.38% -8.91% 8.29% -4.20%
2000 -1.63% -2.39% 6.22% 7.14% 9.27%
1999 3.62% 10.89% -6.04% 11.41% 20.29%
1998 10.30% -0.68% -11.22% 18.71% 15.47%
1997 1.97% 14.32% 6.43% 2.93% 27.70%
1996 - - - 8.70% 18.60%

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

Portfolio

Holding Sector Assets
JPMorgan Chase & Co Financials 3.5%
Alphabet Inc Communication Services 2.8%
Shell PLC Energy 2.8%
Schlumberger NV Energy 2.5%
Pioneer Natural Resources Co Energy 2.5%
Microsoft Corp Information Technology 2.5%
Allstate Corp/The Financials 2.5%
UnitedHealth Group Inc Health Care 2.4%
Chesapeake Energy Corp Energy 2.3%
Molina Healthcare Inc Health Care 2.2%

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
JPMorgan Chase & Co Financials 3.5%
Alphabet Inc Communication Services 2.8%
Shell PLC Energy 2.8%
Schlumberger NV Energy 2.5%
Pioneer Natural Resources Co Energy 2.5%
Microsoft Corp Information Technology 2.5%
Allstate Corp/The Financials 2.5%
UnitedHealth Group Inc Health Care 2.4%
Chesapeake Energy Corp Energy 2.3%
Molina Healthcare Inc Health Care 2.2%
AbbVie Inc Health Care 2.1%
Adobe Inc Information Technology 2.0%
AerCap Holdings NV Industrials 2.0%
Lockheed Martin Corp Industrials 2.0%
Charles Schwab Corp/The Financials 2.0%
Comcast Corp Communication Services 1.9%
RenaissanceRe Holdings Ltd Financials 1.9%
Wells Fargo & Co Financials 1.9%
Micron Technology Inc Information Technology 1.9%
NetApp Inc Information Technology 1.8%
BJ's Wholesale Club Holdings Inc Consumer Staples 1.8%
Arthur J Gallagher & Co Financials 1.8%
Parker-Hannifin Corp Industrials 1.8%
McKesson Corp Health Care 1.7%
Arch Capital Group Ltd Financials 1.7%
Fiserv Inc Financials 1.7%
Masco Corp Industrials 1.7%
EMCOR Group Inc Industrials 1.7%
Norfolk Southern Corp Industrials 1.6%
Target Corp Consumer Staples 1.6%
Laboratory Corp of America Holdings Health Care 1.5%
KKR & Co Inc Financials 1.5%
Expeditors International of Washington Inc Industrials 1.5%
Ameriprise Financial Inc Financials 1.5%
Carlsberg AS Consumer Staples 1.5%
CRH PLC Materials 1.4%
Valvoline Inc Consumer Discretionary 1.4%
Morgan Stanley Financials 1.4%
Organon & Co Health Care 1.3%
Becton Dickinson & Co Health Care 1.3%
Builders FirstSource Inc Industrials 1.3%
American Express Co Financials 1.3%
Allegion plc Industrials 1.2%
CBRE Group Inc Real Estate 1.2%
AutoZone Inc Consumer Discretionary 1.2%
Thermo Fisher Scientific Inc Health Care 1.2%
Teledyne Technologies Inc Information Technology 1.2%
Lowe's Cos Inc Consumer Discretionary 1.1%
Caesars Entertainment Inc Consumer Discretionary 1.1%
Procter & Gamble Co/The Consumer Staples 1.1%
NextEra Energy Inc Utilities 1.1%
KLA Corp Information Technology 1.1%
Dow Inc Materials 1.0%
Reliance Steel & Aluminum Co Materials 1.0%
Biogen Inc Health Care 1.0%
American Homes 4 Rent Real Estate 1.0%
FirstEnergy Corp Utilities 0.9%
General Motors Co Consumer Discretionary 0.9%
Prologis Inc Real Estate 0.8%
Taiwan Semiconductor Manufacturing Co Ltd Information Technology 0.8%
PayPal Holdings Inc Financials 0.8%

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.

Sector Allocationas of 10/31/2023

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Communication Services arrowDown0.1%
Real Estate arrowDown0.1%
Utilities arrowUp0.1%
Consumer Discretionary arrowDown0.4%
Consumer Staples 0.0%
Energy arrowUp0.3%
Financials 0.0%
Health Care arrowDown1.1%
Industrials arrowDown1.0%
Information Technology arrowUp0.4%
Materials arrowUp1.4%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 12/01/2023
$0.11040
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
11/20/2023 11/21/2023 11/21/2023 $0.11040 $12.56

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/21/2022 11/22/2022 $0.5099 - $0.5099 $12.29
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $13.64
$50,000 to $99,999 4.75% 4.00% $13.50
$100,000 to $249,999 3.95% 3.25% $13.39
$250,000 to $499,999 2.75% 2.25% $13.22
$500,000 to $999,999 1.95% 1.75% $13.12
$1,000,000 to $5,000,000 0.00% 1.00% $12.86

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

  • Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.

  • Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

  • purchases of $1 million or more (may be subject to a CDSC);
  • purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
  • purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
  • purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
  • certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

 

EXPENSE RATIOas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.96% 0.96%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
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

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

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.

 

2

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.

 

5

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

 

6

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

 

 

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.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

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 1000® Value Index measures the performance of those Russell 1000 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.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

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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