LICSX | International Equity Fund Class R4 | Lord Abbett
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International Equity Fund

Summary

Summary

What is the International Equity Fund?

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

Fund Basicsas of 09/30/2021

Total Net Assets
$398.99 M
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Gross Expense Ratio
1.21%
Fund Net Expense Ratio
1.17%
Number of Holdings
101

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 7.95% 26.58% 9.95% 8.82% 7.03% -
Lipper Category Avg. International Large-Cp Gro Fds 5.51% 21.15% 12.00% 10.95% 9.32% -
MSCI ACWI ex USA Index (Net) 5.90% 23.91% 8.03% 8.94% 7.48% -

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 7.95% 26.58% 9.95% 8.82% 7.03% -
Lipper Category Avg. International Large-Cp Gro Fds 5.51% 21.15% 12.00% 10.95% 9.32% -
MSCI ACWI ex USA Index (Net) 5.90% 23.91% 8.03% 8.94% 7.48% -

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

RELATED CONTENT

Countryas of 09/30/2021View Portfolio

Country Assets
Japan 16.7%
France 16.1%
United Kingdom 10.4%
Switzerland 6.6%
Germany 5.2%
Denmark 4.8%
Netherlands 4.7%
Spain 3.2%
Cash 3.2%
Australia 2.7%
Canada 2.7%
India 2.5%
Sweden 2.4%
Hong Kong 2.4%
Taiwan 2.1%
Republic of Korea 1.7%
China 1.6%
Austria 1.6%
Singapore 1.5%
United States 1.5%
Mexico 1.1%
Norway 1.1%
Ireland 1.0%
Indonesia 0.9%
Hungary 0.8%
Belgium 0.8%
Cayman Islands 0.6%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.0%
Japan arrowUp1.8%
Asia/Pacific arrowDown3.1%
United Kingdom arrowUp0.7%
Americas arrowDown0.9%
EMEA arrowUp0.1%
Cash arrowUp0.4%

INVESTMENT TEAM

Matthias A. Knerr
Matthias A. Knerr, CFA

Portfolio Manager

25 Years of Industry Experience

Sue Kim
Sue Kim

Managing Director, Director of Global and Emerging Market Equities

20 Years of Industry Experience

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

32 Years of Industry Experience

Supported By 30 Investment Professionals with 19 Years Avg. Industry Experience

YOUR REPRESENTATIVE

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

Performance

Performance

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 7.95% 26.58% 9.95% 8.82% 7.03% -
Lipper Category Avg. International Large-Cp Gro Fds 5.51% 21.15% 12.00% 10.95% 9.32% -
MSCI ACWI ex USA Index (Net) 5.90% 23.91% 8.03% 8.94% 7.48% -

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 7.95% 26.58% 9.95% 8.82% 7.03% -
Lipper Category Avg. International Large-Cp Gro Fds 5.51% 21.15% 12.00% 10.95% 9.32% -
MSCI ACWI ex USA Index (Net) 5.90% 23.91% 8.03% 8.94% 7.48% -

Fund Expense Ratio :

Gross 1.21%

Net 1.17%

Year Fund Returns MSCI ACWI ex USA Index (Net)
2020 16.92% 10.65%
2019 21.35% 21.51%
2018 -18.17% -14.20%
2017 25.08% 27.19%
2016 -1.87% 4.50%
2015 -2.66% -5.66%
2014 -9.37% -3.87%
2013 22.45% 15.29%
2012 14.74% 16.83%
2011 -12.09% -13.71%
2010 6.50% -
2009 33.51% -
2008 -42.64% -
2007 13.84% -
2006 23.73% -
2005 17.31% -
2004 14.27% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 2.86% 6.00% -0.99% - 11.57%
2020 -21.82% 18.14% 7.96% 17.26% 16.92%
2019 9.58% 4.41% -2.46% 8.74% 21.35%
2018 -0.98% -5.11% 0.37% -13.23% -18.17%
2017 5.77% 5.37% 7.34% 4.55% 25.08%
2016 -2.98% -2.90% 7.02% -2.67% -1.87%
2015 3.80% -0.29% -8.96% 3.31% -2.66%
2014 -1.89% 3.96% -6.07% -5.39% -9.37%
2013 4.00% -0.55% 10.80% 6.85% 22.45%
2012 11.23% -7.74% 6.13% 5.35% 14.74%
2011 4.42% 1.73% -19.99% 3.43% -12.09%
2010 0.02% -14.98% 18.27% 5.88% 6.50%
2009 -13.59% 28.48% 20.70% -0.36% 33.51%
2008 -9.95% -1.82% -20.61% -18.27% -42.64%
2007 3.51% 8.22% 3.18% -1.52% 13.84%
2006 9.24% -2.55% 4.62% 11.10% 23.73%
2005 0.37% 0.19% 9.01% 7.01% 17.31%
2004 - - - 14.94% 14.27%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 09/30/2021

Country Assets
Japan 16.7%
France 16.1%
United Kingdom 10.4%
Switzerland 6.6%
Germany 5.2%
Denmark 4.8%
Netherlands 4.7%
Spain 3.2%
Cash 3.2%
Australia 2.7%
Canada 2.7%
India 2.5%
Sweden 2.4%
Hong Kong 2.4%
Taiwan 2.1%
Republic of Korea 1.7%
China 1.6%
Austria 1.6%
Singapore 1.5%
United States 1.5%
Mexico 1.1%
Norway 1.1%
Ireland 1.0%
Indonesia 0.9%
Hungary 0.8%
Belgium 0.8%
Cayman Islands 0.6%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.0%
Japan arrowUp1.8%
Asia/Pacific arrowDown3.1%
United Kingdom arrowUp0.7%
Americas arrowDown0.9%
EMEA arrowUp0.1%
Cash arrowUp0.4%

Portfolio Positioningas of 06/30/2021

  • Going into 1Q2021, the Fund shifted more into value and cyclicality as rates rose globally and inflation expectations increased. During the most recent quarter, the Fund shifted back into growth sectors because the U.S. Federal Reserve asserted its view that the current higher levels of inflation will be temporary and reiterated its intention to maintain loose monetary conditions to support future growth.
  • We reduced some of the cyclicality in the portfolio over the quarter as we took profits in recent reopening winners. Within materials specifically, we reduced exposure to a few long-term holdings with copper exposure. While our longer-term outlook for copper supply is positive for the industry, there are more projects in the pipeline slated for the next two years, so the shortages we are seeing now might alleviate in the near term. In addition, the proposals to tax copper sales at higher rates in Chile and Peru have also led to our caution on mining companies in the region.
  • Following the sharp reversal in government bond yields, as inflation expectations lessened and concerns over weaker global growth rose, we also started reducing our financials exposure. Specifically, we were focusing on reductions in companies that were most geared to a steepening yield curve, mostly in the life insurance industry. On the banking side, we segmented holdings that were most and least exposed to the changing reality on reflation expectations and adjusted accordingly.
  • Across the industrials and information technology sectors, we continue to identify companies involved with industrial automation. We believe that in the post-COVID-19 environment, companies providing robotics, smart automated solutions and software that increases safety and throughput and reduces errors will allow manufacturers to improve profitability by significantly reducing headcount on the factory floor. We reduced positions related to mobile handset and personal computer (PC) demand. We believe that PC sales have peaked during the worst of the COVID-19 pandemic as most people upgraded their home technology. Growth in this area is slowing. With handsets, COVID in southeast Asia and India led to a decrease in demand. We remain positive on semiconductor capital equipment spending as governments encourage the reestablishment of local supply chains and production to ensure the security of supply following recent capacity disruptions.
  • Within the automotive industry, we are constructive on auto production improvements in 2021 after a dismal year for autos in 2020. Most notably, we are constructive on the future of electric vehicles auto parts companies which should benefit from this shift away from traditional combustion engine vehicles.

Portfolio Details as of 09/30/2021

Weighted Average Market Cap.
112.7 B
P/E Ratio
19.0x
P/B Ratio
2.8x
Number of Holdings
101
Total Net Assets
$398.99 M

Contributors & Detractors as of  09/30/2021

Contributors

Holding Contribution
Keyence Corp 0.3%
Novo Nordisk A/S 0.2%
Hoya Corp 0.2%
Sony Corp 0.2%
Nordea Bank Abp 0.2%

Detractors

Holding Contribution
Tencent Holdings Ltd -0.4%
BHP Group Ltd -0.3%
Alibaba Group Hldg Ltd -0.2%
Kering -0.2%
Samsung Electronics Co Ltd -0.2%

Attribution Analysis 

International Equity Fund Benchmark Variance
Sector Avg. Weight Base Return Avg. Weight Base Return Stock Selection Group Weight Total

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 10/21/2021
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/17/2020 12/18/2020 12/18/2020 $0.17970 $15.48

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
12/16/2021 12/17/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 09/30/2021

Fund Gross Expense Ratio Fund Net Expense Ratio
1.21% 1.17%

Fund Documents

Fund Documents

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