LGCAX | Global Equity Fund Class A | Lord Abbett

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Global Equity Fund

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Portfolio Details as of 12/30/2022

Total Net Assets
$14.35 M

Summary

Summary

What is the Global Equity Fund?

The Fund seeks long-term growth of capital by investing in stocks of both U.S. and non-U.S. companies.

Fund Basicsas of 12/30/2022

Total Net Assets
$14.35 M
Inception Date
01/19/2017
Dividend Frequency
Annually
Number of Holdings
84
Minimum Initial Investment
$1,500+

Expense Ratioas of 12/31/2022

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/18/2017
w/o sales charge 7.48% -7.46% 8.75% 6.32% - 9.48%
Lipper Category Avg. Global Multi-Cap Growth Fds - - - - - -
MSCI All Country World Index - Net 7.17% -7.99% 6.83% 5.53% - 8.94%
w/ sales charge 1.30% -12.79% 6.62% 5.08% - 8.42%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/18/2017
w/o sales charge -19.03% -19.03% 5.67% 6.16% - 8.31%
Lipper Category Avg. Global Multi-Cap Growth Fds -29.20% -29.20% 2.00% 4.72% - -
MSCI All Country World Index - Net -18.37% -18.37% 4.00% 5.23% - 7.81%
w/ sales charge -23.67% -23.67% 3.60% 4.90% - 7.23%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

Countryas of 12/30/2022View Portfolio

Country Assets
United States 55.7%
Cash 9.8%
United Kingdom 6.8%
France 4.2%
China 3.6%
Japan 3.3%
Canada 3.2%
Denmark 2.1%
Australia 1.9%
Mexico 1.7%
Spain 1.6%
Austria 1.4%
Taiwan 0.9%
Republic of Korea 0.9%
Germany 0.8%
Panama 0.7%
Hong Kong 0.7%
Netherlands 0.5%
Sweden 0.3%

Portfolio Positioningas of 12/31/2022

  • We still place most of our focus on individual companies and key themes we derive from intensive company research. With respect to the relative attractiveness of equities around the world, it is worth noting that valuations today are at the cheapest levels they have been since the depths of the global financial crisis, with P/E multiples having dipped briefly below 10x forward earnings in the fall before modestly rallying. While cheapness alone is not necessarily a reliable investment argument, when we look at the potentially improving macro backdrop and the potential for fundamental strength in higher quality areas of the market, we are getting increasingly optimistic.
  • We have also begun to see evidence of a peaking US Dollar, which could provide an additional tailwind in the months ahead. From March 2021 – October 2022, the US Dollar Index appreciated substantially, which negatively impacted local returns from foreign stocks. One key driver of this relative strength was the higher interest rate environment in the US, driven by the Fed. However, as US inflation has shown some recent signs of fading while other economies around the world are seeing hotter inflation numbers, such as in the EU, we believe it is likely we will start to see their central banks ratchet up interest rate policies, potentially shifting the flow of capital and unwinding the dollar trade from the previous year.
  • With that said, there are risks still abound; most notably, the uncertainty coming from rate hikes to address inflation and the continued risks from war in Europe, even if things may be getting “less bad” on a relative basis.  Unlike some of the recent recoveries from economic and market downturns (e.g., 2003, 2009, 2020), it is important to note that there will almost certainly not be a global coordinated stimulus from fiscal and monetary authorities any time soon, meaning that a powerful beta / junk rally is unlikely. Instead, as the current bear market ends and a new bull market takes shape, it will likely be quality metrics, such as strong return on equity and healthy balance sheets, along with long-term competitive advantages and pricing power, that prove to be key factors in which companies outperform.  As such, the portfolio has been tilted towards these types of resilient quality names, looking to preserve capital and manage risk-reward tradeoffs.
Region Weighting Fund Change from Previous Quarter
Americas arrowDown1.6%
Europe ex-U.K. arrowDown1.7%
Asia/Pacific arrowDown2.3%
United Kingdom arrowUp0.5%
Japan arrowDown0.6%
Cash arrowUp5.7%

INVESTMENT TEAM

Ryan C. Howard
Ryan C. Howard, CFA

Portfolio Manager

19 Years of Industry Experience

Servesh Tiwari
Servesh Tiwari, CFA

Portfolio Manager

16 Years of Industry Experience

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

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Performance

Performance

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/18/2017
w/o sales charge 7.48% -7.46% 8.75% 6.32% - 9.48%
Lipper Category Avg. Global Multi-Cap Growth Fds - - - - - -
MSCI All Country World Index - Net 7.17% -7.99% 6.83% 5.53% - 8.94%
w/ sales charge 1.30% -12.79% 6.62% 5.08% - 8.42%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 01/18/2017
w/o sales charge -19.03% -19.03% 5.67% 6.16% - 8.31%
Lipper Category Avg. Global Multi-Cap Growth Fds -29.20% -29.20% 2.00% 4.72% - -
MSCI All Country World Index - Net -18.37% -18.37% 4.00% 5.23% - 7.81%
w/ sales charge -23.67% -23.67% 3.60% 4.90% - 7.23%

Fund Expense Ratio :

Gross 3.53%

Net 0.90%

Year Fund Returns MSCI All Country World Index - Net
2022 -19.03% -18.37%
2021 17.91% 18.54%
2020 23.57% 16.26%
2019 26.22% 26.60%
2018 -9.47% -9.42%
2017 19.24% 23.97%
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 - - - - 8.51%
2022 -7.05% -15.63% -4.59% 8.22% -19.03%
2021 4.69% 7.36% -2.80% 7.93% 17.91%
2020 -21.78% 21.84% 9.18% 18.77% 23.57%
2019 12.87% 2.46% -0.09% 9.23% 26.22%
2018 1.42% -0.26% 4.47% -14.33% -9.47%
2017 - 4.66% 5.10% 5.15% 19.24%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 12/30/2022

Country Assets
United States 55.7%
Cash 9.8%
United Kingdom 6.8%
France 4.2%
China 3.6%
Japan 3.3%
Canada 3.2%
Denmark 2.1%
Australia 1.9%
Mexico 1.7%
Spain 1.6%
Austria 1.4%
Taiwan 0.9%
Republic of Korea 0.9%
Germany 0.8%
Panama 0.7%
Hong Kong 0.7%
Netherlands 0.5%
Sweden 0.3%
Region Weighting Fund Change from Previous Quarter
Americas arrowDown1.6%
Europe ex-U.K. arrowDown1.7%
Asia/Pacific arrowDown2.3%
United Kingdom arrowUp0.5%
Japan arrowDown0.6%
Cash arrowUp5.7%

Portfolio Details as of 12/30/2022

Total Net Assets
$14.35 M

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 02/01/2023
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/19/2022 12/20/2022 12/20/2022 $0.07860 $11.58

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
12/18/2023 12/19/2023 12/19/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $0.9423 $1.2338 $2.1761 $13.96

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 02/01/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $13.39
$50,000 to $99,999 4.75% 4.00% $13.25
$100,000 to $249,999 3.95% 3.25% $13.14
$250,000 to $499,999 2.75% 2.25% $12.98
$500,000 to $999,999 1.95% 1.75% $12.87
$1,000,000 to $5,000,000 0.00% 1.00% $12.62

EXPENSE RATIOas of 12/31/2022

Fund Documents

Fund Documents

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Portfolio Holdings 3Q
Publish Date:11/03/2015
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Publish Date:11/03/2015
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Statutory Prospectus
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Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
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Fact Sheet
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Commentary
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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.

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, effective 12/1/2021, 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 of the 18-month anniversary of the purchase. Fund shares purchased without a sales charge prior to 12/1/2021 may be assessed 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. The CDSC is not reflected in the performance with maximum sales charge.

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