LICVX | International Equity Fund Class R6 | Lord Abbett

Tracked Funds

You have 0 funds on your mutual fund watch list.

Begin by selecting funds to create a personalized watch list.

(as of 12/05/2015)

Pending Orders

You have 0 items in your cart.

Subscribe and order forms, fact sheets, presentations, and other documents that can help advisers grow their business.

 

International Equity Fund

Track this Fund
Add to Hypo Tool

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 08/31/2022

Total Net Assets
$296.28 M
Inception Date
06/30/2015
Dividend Frequency
Annually
Fund Gross Expense Ratio
0.86%
Fund Net Expense Ratio
0.84%
Number of Holdings
103

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.79% -22.18% 4.32% 2.00% 4.29% -
Lipper Category Avg. International Large-Cp Gro Fds -25.07% -26.54% 3.06% 2.65% 5.35% -
MSCI ACWI ex USA Index (Net) -18.34% -19.52% 2.87% 1.67% 4.48% -

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.23% -19.14% 3.24% 3.10% 4.59% -
Lipper Category Avg. International Large-Cp Gro Fds -24.99% -24.32% 2.26% 3.62% 5.72% -
MSCI ACWI ex USA Index (Net) -18.42% -19.42% 1.35% 2.50% 4.83% -

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

Countryas of 08/31/2022View Portfolio

Country Assets
Japan 17.5%
France 14.9%
United Kingdom 10.5%
China 8.7%
India 6.0%
Switzerland 6.0%
Denmark 3.8%
Canada 3.7%
Taiwan 3.2%
Netherlands 3.2%
Cash 3.1%
Spain 2.0%
Sweden 2.0%
Germany 1.7%
Norway 1.6%
Australia 1.6%
Mexico 1.5%
Indonesia 1.5%
Hong Kong 1.3%
United States 1.2%
Singapore 1.1%
Republic of Korea 1.0%
Brazil 0.8%
Austria 0.7%
Ireland 0.7%
Bermuda 0.7%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp0.8%
Asia/Pacific arrowUp4.0%
Japan arrowUp0.8%
United Kingdom arrowDown1.5%
Americas arrowUp1.2%
Cash arrowDown4.8%

INVESTMENT TEAM

Matthias A. Knerr
Matthias A. Knerr, CFA

Portfolio Manager

27 Years of Industry Experience

Sue Kim
Sue Kim

Managing Director, Director of Global and Emerging Market Equities

22 Years of Industry Experience

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

34 Years of Industry Experience

Supported By 34 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 0.86%

Net 0.84%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.79% -22.18% 4.32% 2.00% 4.29% -
Lipper Category Avg. International Large-Cp Gro Fds -25.07% -26.54% 3.06% 2.65% 5.35% -
MSCI ACWI ex USA Index (Net) -18.34% -19.52% 2.87% 1.67% 4.48% -

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge -21.23% -19.14% 3.24% 3.10% 4.59% -
Lipper Category Avg. International Large-Cp Gro Fds -24.99% -24.32% 2.26% 3.62% 5.72% -
MSCI ACWI ex USA Index (Net) -18.42% -19.42% 1.35% 2.50% 4.83% -

Fund Expense Ratio :

Gross 0.86%

Net 0.84%

Year Fund Returns MSCI ACWI ex USA Index (Net)
2021 12.09% 7.82%
2020 17.30% 10.65%
2019 21.82% 21.51%
2018 -17.95% -14.20%
2017 25.60% 27.19%
2016 -1.43% 4.50%
2015 -2.32% -5.66%
2014 -9.08% -3.87%
2013 22.85% 15.29%
2012 15.10% 16.83%
2011 -11.81% -
2010 6.84% -
2009 33.93% -
2008 -42.45% -
2007 14.20% -
2006 24.12% -
2005 17.68% -
2004 14.64% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 -9.54% -12.92% - - -27.80%
2021 2.94% 6.08% -0.92% 3.60% 12.09%
2020 -21.80% 18.33% 7.98% 17.39% 17.30%
2019 9.71% 4.51% -2.42% 8.88% 21.82%
2018 -0.90% -5.12% 0.52% -13.19% -17.95%
2017 5.89% 5.40% 7.49% 4.70% 25.60%
2016 -2.87% -2.79% 7.21% -2.62% -1.43%
2015 3.88% -0.21% -8.82% 3.35% -2.32%
2014 -1.82% 4.04% -5.99% -5.32% -9.08%
2013 4.08% -0.47% 10.89% 6.94% 22.85%
2012 11.32% -7.66% 6.21% 5.43% 15.10%
2011 4.50% 1.81% -19.92% 3.51% -11.81%
2010 0.10% -14.91% 18.37% 5.97% 6.84%
2009 -13.52% 28.57% 20.80% -0.28% 33.93%
2008 -9.88% -1.74% -20.54% -18.21% -42.45%
2007 3.60% 8.31% 3.27% -1.44% 14.20%
2006 9.32% -2.47% 4.70% 11.19% 24.12%
2005 0.45% 0.28% 9.09% 7.10% 17.68%
2004 - - - 15.03% 14.64%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 08/31/2022

Country Assets
Japan 17.5%
France 14.9%
United Kingdom 10.5%
China 8.7%
India 6.0%
Switzerland 6.0%
Denmark 3.8%
Canada 3.7%
Taiwan 3.2%
Netherlands 3.2%
Cash 3.1%
Spain 2.0%
Sweden 2.0%
Germany 1.7%
Norway 1.6%
Australia 1.6%
Mexico 1.5%
Indonesia 1.5%
Hong Kong 1.3%
United States 1.2%
Singapore 1.1%
Republic of Korea 1.0%
Brazil 0.8%
Austria 0.7%
Ireland 0.7%
Bermuda 0.7%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp0.8%
Asia/Pacific arrowUp4.0%
Japan arrowUp0.8%
United Kingdom arrowDown1.5%
Americas arrowUp1.2%
Cash arrowDown4.8%

Portfolio Positioningas of 06/30/2022

  • As we think about the second quarter, non-U.S. equities marginally outperformed U.S. equities, with the S&P 500, MSCI ACWI ex-US, and MSCI EM Indices returning -16.91%, -13.54% and -11.34%, respectively. If we look under the hood, growth considerably underperformed value in non-U.S. equities. The MSCI ACWI ex-US Growth Index ended up underperforming the MSCI ACWI ex-US Value Index by nearly 400bps, extending the year-to-date underperformance to over 1300bps. Overseas market performance is often driven by many of the same factors that affect U.S. equity markets, and this latest quarter was no different, with red-hot inflation and a hawkish Fed having a meaningful impact.
  • Positive stock selection in the Financials and Communication Services, along with an underweight allocation to Information Technology were all contributors to relative performance over the quarter. Generally speaking, our preference in banking has been for asset-geared franchises with low complexity. Immediately following the invasion on Ukraine, we reduced European financials exposure meaningfully expecting significant challenges as a result of slower European economic growth. Towards the end of the first quarter, after the sharp selloff in the sector, we were once again able to increase our positioning in early Q2; with a focus on banks that would likely benefit from rising rates, including adding to Erste Bank (0.7%), Bawag (0.9%), Nordea Bank (1.3%) and Caixabank SA (1.0%).. Amongst the most notable positive contributors were the Spanish retail savings bank, Caixabank SA, and the Indonesian corporate lender, Bank Mandiri (1.0%), which has benefited from a general economic improvement in Indonesia, as well as increased economic activity as a result of China’s reopening.
  • Two areas of weakness for the Fund this quarter were security selection in the Industrials and Consumer Staples sectors. As market focus shifted from the growth vs. value dynamic to rising risks of recession and slowing global growth, we reduced the Fund’s exposure to Industrials meaningfully, bringing it to an overall underweight in the portfolio. Nevertheless, the portfolio was negatively impacted as heightened expectations of an economic slowdown and possible recession resulted in a sharp decline in the Industrials sector. The largest detractor in the sector was Schneider Electric. Under the European Green deal, the EU aims to be the first climate-neutral continent by 2050 and improving energy efficiency is one of the largest areas of future opportunity to achieve this objective. According to an IEA study, improvements in energy efficiency can make up about half of the reduction in energy-related greenhouse gas emissions needed in the next two decades to help the world meet international energy and climate goals. As these investments accelerate in the coming years, Schneider Electric (1.3%), as a world leader in the business of building automation and energy efficiency, is well-positioned to benefit. Within Consumer Staples, the largest detractors from relative performance were two long-held positions; L’Oréal (1.5%), the world’s largest cosmetics company, and Pernod Ricard (1.1%), a French liquor company that is the world’s second-largest wine and spirits seller. Although in the short term they have underperformed due to concerns of weaker European consumer spending and the extended effects of China’s COVID-19 related lockdowns, both companies are expected to remain long term winners with strong brands and highly profitable businesses in attractively growing markets.
  • New opportunities that we pursued this quarter were adding to our exposure in Hong Kong and China. In stark contrast to the tightening policies of most Western economies, the Chinese government has been forced to renew its efforts in monetary and fiscal policy easing to counteract the negative effects of their strict COVID Zero policy and an ongoing slowdown in the Chinese residential property market. Additionally, after nearly two years of increased government intervention and regulation, and the impending risk of Chinese ADR delistings, the outlook for the Chinese internet and eCommerce sectors appears to finally be improving, potentially offering some attractive investment opportunities after over eighteen months of sharp declines. We initiated new positions in Chinese eCommerce giant, Alibaba (0.4%), Kweichow Moutai (0.7%), the leader in the baijiu liquor market with enviable brand strength in China, tracing its origins back to the Qing dynasty, and added to our existing position in JD.com (1.0%).

Portfolio Details as of 08/31/2022

Weighted Average Market Cap.
110.8 B
P/E Ratio
16.0x
P/B Ratio
2.3x
Number of Holdings
103
Total Net Assets
$296.28 M

Contributors & Detractors as of  06/30/2022

Contributors

Holding Contribution
Byd Company Limited 0.2%
Jd.Com Inc 0.1%
Meituan 0.1%
Daiichi Sankyo Co., Ltd. 0.1%
Kweichow Moutai 0.1%

Detractors

Holding Contribution
ASML Holding NV -0.6%
Anglo American PLC -0.4%
Schneider Electric SE -0.4%
Taiwan Semiconductor Manufacturing Co Ltd -0.4%
Capstone Copperp -0.4%

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 09/23/2022
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/16/2021 12/17/2021 12/17/2021 $0.26270 $15.32

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
12/19/2022 12/20/2022 12/20/2022

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 $1.7525 - $1.7525 $15.32

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
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2022

Fund Gross Expense Ratio Fund Net Expense Ratio
0.86% 0.84%

Fund Documents

Fund Documents

Download fund documents & literature, create email subscriptions, and place direct mail order

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

To order literature visit full website

You may add to your cart by selecting quantities in each row below.

No rows selected. Please Go back and select at least one fund document

 
Quantity
Quantity
Remove
Remove

Select funds to run a Morningstar Hypothetical Report.

    Please confirm your literature shipping address

    Please review the address information below and make any necessary changes.

    All literature orders will be shipped to the address that you enter below. This information can be edited at any time.

    Current Literature Shipping Address

    * Required field