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Growth Leaders Fund

Daily price w/o sales charge as of 01/16/2019

$25.00

$0.00

YTD Returns w/o sales charge as of 01/16/2019

6.47%

Click here to view all legal text including risk information

Summary

Summary

What is the Growth Leaders Fund?

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

Fund Basicsas of 12/31/2018

Total Net Assets
$3.18 B
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Expense Ratio
0.66%
Number of Holdings
65
CUSIP
54400A811

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.72% -0.72% 9.64% 9.24% - 11.87%
Lipper Category Avg. Multi-Cap Growth Funds -2.95% -2.95% 8.41% 7.24% - -
Russell 1000® Growth Index -1.51% -1.51% 11.15% 10.40% - -

Fund Expense Ratio :

0.66%

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.72% -0.72% 9.64% 9.24% - 11.87%
Lipper Category Avg. Multi-Cap Growth Funds -2.95% -2.95% 8.41% 7.24% - -
Russell 1000® Growth Index -1.51% -1.51% 11.15% 10.40% - -

Fund Expense Ratio :

0.66%

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 of future results.

RELATED CONTENT

Equities: A Focus on Growth
October 12, 2018

Lord Abbett partner and portfolio manager Thomas O’Halloran talks about where his team is finding opportunities among growth stocks.

The New Growth Leadership: Small-Cap Tech and Biotech
September 24, 2018

Continued rapid growth in small-cap tech and biotech stocks suggests there may be further room to run for these dynamic companies.

U.S. Stocks: There’s More to Growth Than Large-Cap Tech
August 20, 2018

Investors have mostly shaken off recent earnings misses from FAANG names in pursuit of other growth opportunities.

TEN LARGEST HOLDINGS as of 12/31/2018View Portfolio

Holding Assets
Microsoft Corp. 6.7%
Amazon.com, Inc. 5.5%
Alphabet, Inc. 4.6%
Apple, Inc. 3.6%
UnitedHealth Group, Inc. 2.9%
Visa, Inc. 2.7%
Mastercard, Inc. 2.6%
Intuitive Surgical, Inc. 2.3%
Illumina, Inc. 2.2%
Boeing Co. 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 12/31/2018View Portfolio

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

INVESTMENT TEAM

F. Thomas O'Halloran
F. Thomas O'Halloran, J.D., CFA

Partner & Portfolio Manager

32 Years of Industry Experience

Vernon Bice
Vernon Bice, CMT

Portfolio Manager

18 Years of Industry Experience

Matthew DeCicco
Matthew R. DeCicco, CFA

Managing Director & Portfolio Manager

20 Years of Industry Experience

Supported By 41 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

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

Performance

Performance

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.72% -0.72% 9.64% 9.24% - 11.87%
Lipper Category Avg. Multi-Cap Growth Funds -2.95% -2.95% 8.41% 7.24% - -
Russell 1000® Growth Index -1.51% -1.51% 11.15% 10.40% - -

Fund Expense Ratio :

0.66%

Fund Expense Ratio :

0.66%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.72% -0.72% 9.64% 9.24% - 11.87%
Lipper Category Avg. Multi-Cap Growth Funds -2.95% -2.95% 8.41% 7.24% - -
Russell 1000® Growth Index -1.51% -1.51% 11.15% 10.40% - -

Fund Expense Ratio :

0.66%

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 of future results.

Year Fund Returns Russell 1000® Growth Index
2018 -0.72% -1.51%
2017 31.59% 30.21%
2016 0.88% 7.08%
2015 6.90% 5.67%
2014 10.41% 13.05%
2013 47.22% 33.48%
2012 10.42% 15.26%
2011 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 6.47%
2018 4.63% 6.99% 11.07% -20.14% -0.72%
2017 8.08% 6.22% 6.58% 7.55% 31.59%
2016 -3.83% 0.73% 6.14% -1.88% 0.88%
2015 4.76% 1.24% -6.10% 7.34% 6.90%
2014 2.16% 3.62% 0.07% 4.23% 10.41%
2013 11.52% 7.31% 13.20% 8.68% 47.22%
2012 15.55% -5.78% 3.91% -2.41% 10.42%
2011 - - -14.97% 7.93% -

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Holding Sector Assets
Microsoft Corp. Information Technology 6.7%
Amazon.com, Inc. Consumer Discretionary 5.5%
Alphabet, Inc. Communication Services 4.6%
Apple, Inc. Information Technology 3.6%
UnitedHealth Group, Inc. Health Care 2.9%
Visa, Inc. Information Technology 2.7%
Mastercard, Inc. Information Technology 2.6%
Intuitive Surgical, Inc. Health Care 2.3%
Illumina, Inc. Health Care 2.2%
Boeing Co. Industrials 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
Microsoft Corp. Information Technology 7.7%
Amazon.com, Inc. Consumer Discretionary 5.0%
Alphabet, Inc. Communication Services 4.9%
Apple, Inc. Information Technology 3.6%
UnitedHealth Group, Inc. Health Care 3.2%
Visa, Inc. Information Technology 2.6%
Mastercard, Inc. Information Technology 2.5%
Verizon Communications, Inc. Communication Services 2.4%
Twilio, Inc. Information Technology 2.3%
Intuitive Surgical, Inc. Health Care 2.3%
Illumina, Inc. Health Care 2.2%
Boeing Co. Industrials 2.1%
Vertex Pharmaceuticals, Inc. Health Care 2.0%
NIKE, Inc. Consumer Discretionary 2.0%
DexCom, Inc. Health Care 1.8%
Salesforce.com, Inc. Information Technology 1.8%
Planet Fitness, Inc. Consumer Discretionary 1.7%
Live Nation Entertainment, Inc. Communication Services 1.7%
Zoetis, Inc. Health Care 1.6%
Atlassian Corp. plc Information Technology 1.6%
PayPal Holdings, Inc. Information Technology 1.5%
Procter & Gamble Co. Consumer Staples 1.5%
Merck & Co., Inc. Health Care 1.4%
Etsy, Inc. Consumer Discretionary 1.4%
Intuit, Inc. Information Technology 1.3%
Glaukos Corp. Health Care 1.3%
Starbucks Corp. Consumer Discretionary 1.3%
Coca-Cola Co. Consumer Staples 1.3%
Five9, Inc. Information Technology 1.2%
TJX Cos., Inc. Consumer Discretionary 1.1%
RingCentral, Inc. Information Technology 1.1%
Grand Canyon Education, Inc. Consumer Discretionary 1.1%
Penumbra, Inc. Health Care 1.1%
GW Pharmaceuticals plc Health Care 1.1%
Roper Industries, Inc. Industrials 1.1%
Teledyne Technologies, Inc. Industrials 1.1%
Tractor Supply Co. Consumer Discretionary 1.0%
Walt Disney Co. Communication Services 1.0%
Okta Inc Information Technology 1.0%
Mosaic Co. Materials 1.0%
Under Armour, Inc. Consumer Discretionary 1.0%
Netflix, Inc. Communication Services 0.9%
AMETEK, Inc. Industrials 0.9%
Everbridge, Inc. Information Technology 0.9%
Lululemon Athletica, Inc. Consumer Discretionary 0.9%
Costco Wholesale Corp. Consumer Staples 0.9%
Trade Desk, Inc./The Information Technology 0.8%
Tesla Motors, Inc. Consumer Discretionary 0.8%
Aerovironment, Inc. Industrials 0.8%
Paycom Software, Inc. Information Technology 0.8%
Adobe Systems, Inc. Information Technology 0.8%
Xilinx, Inc. Information Technology 0.8%
Raytheon Co. Industrials 0.7%
Jacobs Engineering Group, Inc. Industrials 0.7%
Sarepta Therapeutics, Inc. Health Care 0.7%
CME Group, Inc. Financials 0.7%
HubSpot, Inc. Information Technology 0.6%
Zscaler Inc Information Technology 0.6%
World Wrestling Entertainment Inc Communication Services 0.6%
Home Depot USA, Inc. Consumer Discretionary 0.5%
Keysight Technologies, Inc. Information Technology 0.5%
ServiceNow, Inc. Information Technology 0.5%
MSCI, Inc. Financials 0.5%
Roku Inc Consumer Discretionary 0.5%
Elastic NV Information Technology 0.4%
Vail Resorts, Inc. Consumer Discretionary 0.4%
Blueprint Medicines Corp. Health Care 0.3%
Alteryx Inc Information Technology 0.2%
Elanco Animal Health Inc Health Care 0.0%

Sector Allocationas of 12/31/2018

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Communication Services arrowDown1.0%
Real Estate arrowUp1.0%
Consumer Discretionary arrowUp0.4%
Consumer Staples arrowUp2.3%
Energy 0.0%
Financials arrowDown1.5%
Health Care arrowUp2.2%
Industrials arrowDown3.3%
Information Technology arrowDown1.7%
Materials arrowUp0.9%

Portfolio Positioning as of 09/30/2018

  • The Fund remains overweight in the information technology sector, specifically internet service and software providers. We anticipate continued innovation in e-commerce and cloud computing, while maintaining an underweight position to particular FANG stocks. Furthermore, we have increased the Fund’s exposure to new and existing software companies exhibiting strong fundamental growth.
  • The Fund maintains an overweight in the health care sector. We remain focused on smaller capitalization biotechnology companies, as they generally tend to be more innovative than their large cap peers, which have large amounts of cash but inferior product pipelines in our view. Additionally, we maintain exposure to innovative minimally-invasive medical device companies.
  • The Fund remains underweight in certain bond proxy sectors, such as consumer staples and real estate, as we continue to believe these sectors are extremely overvalued and may also be adversely affected by the normalization of interest rates.
  • We reduced the Fund’s exposure to the financials sector as deposit funding costs have increased, negatively impacting small banks’ net interest margins.
  • We remain very positive about the U.S. stock market, and particularly bullish on small caps and high growth stocks. While there remains a host of concerns around trade or other macro shocks, and potential missteps by the U.S. Federal Reserve around hiking rates too quickly, we believe that improving fundamentals will continue to lead the market higher.

PORTFOLIO DETAILS as of 12/31/2018

Total Net Assets
$3.18 B
Number of Holdings
65
Weighted Average Market Cap.
214.1 B
P/B Ratio
8.3x
Portfolio Turnover Ratio as of 10/31/2018
161.4%
P/E Ratio
32.2x

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.

Contributors & Detractors as of  12/31/2018

Contributors

Holding Contribution
Merck & Co., Inc. 0.1%
McDonald's Corp. 0.1%
Procter & Gamble Co. 0.0%
US($) 0.0%
Five9, Inc. 0.0%

Detractors

Holding Contribution
Amazon.com, Inc. -1.8%
Apple, Inc. -1.4%
Roku Inc -0.7%
NVIDIA Corp. -0.6%
Alphabet, Inc. -0.6%

% Contribution reflects the effect of the individual stock's performance on the Fund's overall performance for the period. Individual holdings and their effect on Fund performance may change significantly over time. Investors should consider the overall performance of the Fund before making a decision on whether or not to invest in the Fund.

Attribution Analysis 

for
Growth Leaders Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

The total base return displayed for the Fund does not capture daily cash flow and trading activity and therefore is subject to reasonable variance from the Fund's actual return. Please refer to the Fund's performance results for longer-term returns. The Fund is actively managed and portfolio characteristics, such as individual holdings and sector weightings, may change significantly over time.

Please see "About Wilshire Attribution" of the performance attribution displayed above by Click here.

About Wilshire Attribution

The Wilshire Atlas Variance Analysis tool provides a methodology for explaining the difference in performance between a portfolio and its benchmark, based on the decomposition of returns. The user specifies the portfolio, index, link frequency, sector and weighting. The weighting can be shown as beginning, average or end weights and is used for display purposes only. 

Average Weight (Portfolio): This is the average weight of each group in the portfolio. Alternatively, the weight at the end of the reporting period, or on average across the reporting period, may be selected.

Base Return (Portfolio): This is the weighted average holding period return for the securities in each group. This weighted average is calculated for each link period using beginning weights and then the resulting values are linked together to calculate the displayed value.

Average Weight (Benchmark): This is the average weight of each group in the benchmark. Alternatively, the weight at the end of the reporting period, or on average across the reporting period, may be selected.

Base Return (Benchmark): This is the weighted average holding period return for the benchmark securities in each group. This weighted average is calculated for each link period using beginning weights, then the resulting values are linked together to calculate the displayed value.

Stock Selection Variance: This is the success of selection decisions within each group versus the benchmark. It is calculated for each link period using the following equation: Stock Selection Variance = WP,G * (RP,G - RB,G), where WP,G = Weight of the group in the portfolio, RP,G = Return of the group in the portfolio, RB,G = Return of the group in the benchmark.

Group Weighting Variance: This is the result of weighting decisions in each group versus the benchmark. It is calculated for each link period using the following equation: Group Weighting Variance = (WP,G – WB,G) * (RB,G – RB,T), where WP,G = Weight of the group in the portfolio, WB,G = Weight of the group in the benchmark, RB,G = Return of the group in the benchmark, RB,T = Overall return of the benchmark.

Total Variance: This is the sum of group weighting and stock selection variances. This represents the amount of total variance that is explained by the selection and allocation decisions for each group.

Wilshire generated returns are calculated gross of fees based on end of day prices and do not capture intraday cash flow, price changes or trading activity, and therefore are subject to some variance from Lord Abbett returns. In addition, Wilshire and Lord Abbett may use different pricing sources and methodologies.

Not Classified securities represent those securities which have not been assigned an official GICS Direct classification. GICS Direct, a joint product of Standard & Poor’s and MSCI, provides industry classifications for more than 40,000 companies and over 45,000 securities. Not Classified securities may include, but are not limited to: Exchange-Traded Funds (ETFs), pink sheet-listed issues, pre-IPO placements, private placements, secondary issues, open-end funds, closed-end funds, and non-operating establishments.

Under certain circumstances, Lord Abbett may elect to have Wilshire map an ETF holding to the relevant characteristics represented by that ETF’s underlying index in order to reflect the exposure and performance contributed by the ETF to the overall portfolio. When this option is selected, Wilshire will remove the ETF from the Not Classified category and instead allocate the ETF’s exposures across the relevant attributes based on the composition of the ETF’s underlying index.

Source: Wilshire Attribution Software. GICS sector classification; non-GICS securities classified by Lord Abbett. Sectors may include many industries.

Dividends & Cap Gains

Dividends & Cap Gains

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
11/20/2019 11/21/2019 11/21/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
11/19/2018 11/20/2018 $2.8843 $1.7670 $4.6513 $23.55

Upcoming Capital Gain Distribution

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
11/20/2019 11/21/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 12/31/2018

0.66%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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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
Flyer
Publish Date:11/03/2015
Publish Date:11/03/2015

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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. Mid and small cap company stocks tend to be more volatile and may be less liquid than large cap company stocks. Mid and small cap companies also may have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large companies. However, larger companies may have slower rates of growth than smaller successful companies. Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. The Fund engages in active and frequent trading of its securities, which may result in increased transaction fees, reduced investment performance, and higher taxes. 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 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.

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.   

 

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.

 

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.

 

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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