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Growth Leaders Fund

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 02/28/2019

Total Net Assets
$3.66 B
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Expense Ratio
0.60%
Number of Holdings
74
CUSIP
54400A795

Fund Expense Ratio :

0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge 17.88% 9.73% 19.47% 11.74% - 14.13%
Lipper Category Avg. Multi-Cap Growth Funds 14.65% 6.74% 16.90% 9.52% - -
Russell 1000® Growth Index 12.89% 6.62% 17.99% 12.63% - -

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.64% -0.64% 9.69% 9.33% - 11.97%
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 :

0.60%

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 02/28/2019View Portfolio

Holding Assets
Alphabet, Inc. 4.2%
Boeing Co. 3.2%
Mastercard, Inc. 2.6%
Amazon.com, Inc. 2.2%
UnitedHealth Group, Inc. 2.2%
Atlassian Corp. plc 2.1%
Vertex Pharmaceuticals, Inc. 2.0%
Intuitive Surgical, Inc. 2.0%
ServiceNow, Inc. 2.0%
Trade Desk, Inc./The 1.9%

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 :

0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge 17.88% 9.73% 19.47% 11.74% - 14.13%
Lipper Category Avg. Multi-Cap Growth Funds 14.65% 6.74% 16.90% 9.52% - -
Russell 1000® Growth Index 12.89% 6.62% 17.99% 12.63% - -

Fund Expense Ratio :

0.60%

Fund Expense Ratio :

0.60%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/30/2011
w/o sales charge -0.64% -0.64% 9.69% 9.33% - 11.97%
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 :

0.60%

Year Fund Returns Russell 1000® Growth Index
2018 -0.64% -1.51%
2017 31.63% 30.21%
2016 0.92% 7.08%
2015 7.05% 5.67%
2014 10.53% 13.05%
2013 47.38% 33.48%
2012 10.54% 15.26%
2011 - -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 20.34%
2018 4.65% 7.01% 11.08% -20.13% -0.64%
2017 8.06% 6.21% 6.61% 7.57% 31.63%
2016 -3.87% 0.78% 6.13% -1.84% 0.92%
2015 4.79% 1.27% -6.06% 7.38% 7.05%
2014 2.18% 3.65% 0.10% 4.25% 10.53%
2013 11.55% 7.34% 13.23% 8.71% 47.38%
2012 15.59% -5.75% 3.94% -2.38% 10.54%
2011 - - -14.95% 7.96% -

NAV HISTORICAL PRICES

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2018

  • The portfolio remains overweight in the information technology, specifically internet service and software providers, as we anticipate continued innovation in e-commerce and cloud computing, while maintaining an underweight position to particular FANG stocks.
  • Within 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. The portfolio maintains exposure to innovative minimally-invasive medical device companies.
  • The portfolio remains underweight in certain bond proxy sectors, such as consumer staples and real estate, as we continue to believe these sectors are overvalued and may also be adversely affected by the normalization of interest rates.
  • We reduced the portfolio’s exposure to the financials sector as funding costs have increased, negatively impacting small banks’ net interest margins.
  • During the fourth quarter as the equity market correction ensued, we added to stable and defensive growth companies exhibiting technical support while trimming select secular and cyclical growth companies. We believe that many high growth companies are now more attractive as the sell-off of high growth stocks was overdone. We have begun to rebuild positions in select secular growth stocks as we believe that improving fundamentals and moderate inflation levels will continue to support higher equity prices.

PORTFOLIO DETAILS as of 02/28/2019

Total Net Assets
$3.66 B
Number of Holdings
74
Weighted Average Market Cap.
137.6 B
P/B Ratio
11.7x
Portfolio Turnover Ratio as of 10/31/2018
161.4%
P/E Ratio
34.4x

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%

Attribution Analysis 

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

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 $23.62

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 02/28/2019

0.60%

Fund Documents

Fund Documents

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Summary Prospectus
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SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
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Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
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Publish Date:11/03/2015

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Class R6 - The inception date for Class R6 shares is June 30, 2015. The performance quotations for Class R6 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 R6 shares; and (b) for periods after June 30, 2015, actual Class R6 performance is used, which reflects all charges and fees applicable to Class R6 shares.

Class R6 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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