LINCX | International Opportunities Fund Class C | Lord Abbett
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International Opportunities Fund

Summary

Summary

What is the International Opportunities Fund?

The Fund seeks to deliver a high level of total return by investing primarily in stocks of small to mid-sized international companies.

Fund Basicsas of 08/31/2021

Total Net Assets
$486.91 M
Inception Date
06/02/1997
Dividend Frequency
Annually
Fund Expense Ratio
1.99%
Number of Holdings
96
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

1.99%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/02/1997
w/o sales charge 14.20% 33.62% 9.05% 9.44% 8.22% 4.95%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 14.79% 33.42% 12.09% 12.88% 9.74% -
S&P Developed Ex-U.S. SmallCap 13.88% 32.29% 10.33% 11.74% 9.45% 7.90%
w/ sales charge 13.20% 33.62% 9.05% 9.44% 8.22% 4.95%

Fund Expense Ratio :

1.99%

Fund Expense Ratio :

1.99%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/02/1997
w/o sales charge 9.84% 42.79% 6.57% 9.60% 6.76% 4.82%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 9.41% 41.37% 10.31% 12.81% 8.36% -
S&P Developed Ex-U.S. SmallCap 10.34% 44.16% 9.36% 12.17% 8.11% 7.81%
w/ sales charge 8.84% 42.79% 6.57% 9.60% 6.76% 4.82%

Fund Expense Ratio :

1.99%

Countryas of 08/31/2021View Portfolio

Country Assets
Japan 19.8%
United Kingdom 15.0%
Germany 6.4%
Sweden 6.1%
Italy 5.4%
Australia 4.3%
Austria 4.2%
Switzerland 4.1%
Cash 4.1%
Canada 3.4%
Norway 3.3%
India 3.0%
Spain 2.9%
France 2.6%
Hong Kong 2.4%
Belgium 1.8%
Republic of Korea 1.8%
Mexico 1.5%
Ireland 1.4%
Portugal 1.4%
Jersey 1.2%
Finland 1.2%
Iceland 1.2%
Luxembourg 1.1%
Israel 0.6%
China 0.3%
United States -0.4%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.9%
Japan arrowUp1.1%
United Kingdom arrowUp0.7%
Asia/Pacific arrowDown5.4%
Americas arrowUp1.2%
EMEA arrowDown0.3%
Cash arrowUp0.9%

INVESTMENT TEAM

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

32 Years of Industry Experience

Vincent J. McBride
Vincent J. McBride

Partner & Portfolio Manager

33 Years of Industry Experience

Supported By 31 Investment Professionals with 19 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

Fund Expense Ratio :

1.99%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/02/1997
w/o sales charge 14.20% 33.62% 9.05% 9.44% 8.22% 4.95%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 14.79% 33.42% 12.09% 12.88% 9.74% -
S&P Developed Ex-U.S. SmallCap 13.88% 32.29% 10.33% 11.74% 9.45% 7.90%
w/ sales charge 13.20% 33.62% 9.05% 9.44% 8.22% 4.95%

Fund Expense Ratio :

1.99%

Fund Expense Ratio :

1.99%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 06/02/1997
w/o sales charge 9.84% 42.79% 6.57% 9.60% 6.76% 4.82%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 9.41% 41.37% 10.31% 12.81% 8.36% -
S&P Developed Ex-U.S. SmallCap 10.34% 44.16% 9.36% 12.17% 8.11% 7.81%
w/ sales charge 8.84% 42.79% 6.57% 9.60% 6.76% 4.82%

Fund Expense Ratio :

1.99%

Year Fund Returns S&P Developed Ex-U.S. SmallCap
2020 13.41% 14.27%
2019 20.31% 24.65%
2018 -24.27% -18.41%
2017 36.95% 32.37%
2016 -4.11% 3.79%
2015 8.98% 5.92%
2014 -6.65% -3.42%
2013 30.09% 26.06%
2012 19.62% 18.55%
2011 -15.76% -14.49%
2010 20.49% -
2009 48.29% -
2008 -51.56% -
2007 3.50% -
2006 27.86% -
2005 24.68% -
2004 19.74% -
2003 41.63% -
2002 -21.59% -
2001 -32.07% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2021 2.55% 7.12% - - 12.39%
2020 -27.84% 20.89% 9.26% 18.98% 13.41%
2019 9.37% 2.32% -1.99% 9.69% 20.31%
2018 -1.81% -4.49% -3.76% -16.09% -24.27%
2017 9.73% 9.18% 8.24% 5.61% 36.95%
2016 -1.37% -4.43% 7.06% -4.98% -4.11%
2015 6.49% 5.33% -7.25% 4.76% 8.98%
2014 0.98% 2.13% -7.99% -1.64% -6.65%
2013 9.04% -0.51% 11.62% 7.43% 30.09%
2012 15.06% -9.35% 10.04% 4.21% 19.62%
2011 1.10% 2.18% -21.11% 3.36% -15.76%
2010 4.17% -11.84% 19.32% 9.96% 20.49%
2009 -11.22% 36.49% 22.57% -0.16% 48.29%
2008 -12.64% -5.13% -25.00% -22.08% -51.56%
2007 4.65% 7.02% -2.02% -5.68% 3.50%
2006 12.75% -3.05% 3.29% 13.24% 27.86%
2005 1.46% 1.35% 13.28% 7.04% 24.68%
2004 9.11% 2.03% -4.30% 12.39% 19.74%
2003 -6.03% 18.20% 11.58% 14.27% 41.63%
2002 -3.93% -0.79% -20.37% 3.33% -21.59%
2001 -19.83% -1.18% -19.80% 6.92% -32.07%
2000 15.50% -13.54% -0.59% -23.38% -23.93%
1999 -0.54% 8.50% -2.66% 20.20% 26.25%
1998 23.58% 4.73% -19.25% 9.75% 14.71%
1997 - - 2.84% 3.77% 9.94%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 08/31/2021

Country Assets
Japan 19.8%
United Kingdom 15.0%
Germany 6.4%
Sweden 6.1%
Italy 5.4%
Australia 4.3%
Austria 4.2%
Switzerland 4.1%
Cash 4.1%
Canada 3.4%
Norway 3.3%
India 3.0%
Spain 2.9%
France 2.6%
Hong Kong 2.4%
Belgium 1.8%
Republic of Korea 1.8%
Mexico 1.5%
Ireland 1.4%
Portugal 1.4%
Jersey 1.2%
Finland 1.2%
Iceland 1.2%
Luxembourg 1.1%
Israel 0.6%
China 0.3%
United States -0.4%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.9%
Japan arrowUp1.1%
United Kingdom arrowUp0.7%
Asia/Pacific arrowDown5.4%
Americas arrowUp1.2%
EMEA arrowDown0.3%
Cash arrowUp0.9%

Portfolio Positioning as of 06/30/2021

  • One of the primary themes this quarter has been to take profits in outperforming areas of the portfolio, primarily in the industrials and information technology sectors, and to rotate into underperforming areas, such as information technology services in Japan. While we took down exposure in select stocks (mainly) to take profits and reposition, we remain invested in many of these companies as we are confident in them long term. Within the real estate sector, we were heavily leaning towards logistics companies and work-from-home beneficiaries as the coronavirus pandemic accelerated the behavioral shift to online and the need for more sophisticated logistics solutions. We have taken a fair amount of this exposure down this quarter - taking profits from big winners in this category - as we shifted focus to reopening and recovery.
  • We continued to add to the financials sector. Part of our focus remained on well-capitalized and well-positioned banks in Emerging Markets. However, this quarter we also added to banks with rate sensitivity, given expectations of continued rate volatility in the near and mid-term. We remain constructive on Emerging Markets as we believe the long-term economic recovery brought about by positive vaccine news will disproportionately benefit these countries, especially as the banking segment had been particularly hurt last year.
  • 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.
  • We still place most of our focus on individual companies and key themes we derive from intensive company research. One of these themes is that the COVID-19 pandemic will lead to permanent changes in consumer and corporate behaviors. In many cases, these shifts have already taken place, but in our view may now accelerate by three to five years. In many cases, these investments have performed exceedingly well, and we sold or reduced these positions as we shifted into underperforming areas like information technology services in Japan. We are also exploring the shift to cloud computing and storage. We believe that the need for a physical presence is diminishing and will benefit providers of innovative cloud solutions. The shift to online consumerism also brings our focus to online retail. The global pandemic has accelerated this existing trend and we are seeing higher adoption rates of e-commerce as a platform. Within online retail, profitability is increasing due to lower return rates, and this may be due to a shift in consumer preferences for social responsibility and waste consciousness, a theme that we believe is here to stay.
  • We believe coordinated global fiscal and monetary support will continue to have a positive impact on markets as liquidity is injected into the global economy. However, interest rates and inflation expectations began to rise as a result, with investors anticipating a substantially healthier economic backdrop. More recently, rates began to stabilize, while inflation readings continue to remain elevated. Whether rising inflation will be transitory or long-lasting is difficult to ascertain currently, but we are more certain that the economy should be back to full swing by the end of 2021. Therefore, we now have a portfolio that is more balanced between value and growth, as we have been taking profits in some of the earlier reopening and cyclicality plays.
  • We maintain our long-term exposure to Emerging Markets, but it falls below our historical weightings in the region as significant risks surrounding capacity to battle the COVID-19 pandemic remains. However, over the course of the last few months, we have been adding to the region, primarily focused on strong, well-capitalized banking franchises that we believe will be beneficiaries of an economic recovery. Most recently, we built positions in regional banks and insurance companies that will provide a ballast to interest rate sensitivity.

Portfolio Details as of 08/31/2021

Weighted Average Market Cap.
3.7 B
P/E Ratio
20.0x
P/B Ratio
2.1x
Number of Holdings
96
Total Net Assets
$486.91 M

Attribution Analysis 

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

Contributors & Detractors as of  06/30/2021

Contributors

Holding Contribution
Money Forward Inc 0.6%
I Mab 0.6%
Uti Asset Management Co 0.4%
UDG Healthcare PLC 0.4%
S4 Capital Plc 0.4%

Detractors

Holding Contribution
Costa Group Holdings Li -0.3%
Pexip Holding Asa -0.2%
ASOS PLC -0.2%
Aruhi Corporation -0.2%
Technopro Holdings Inc -0.2%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 09/21/2021
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/17/2019 12/18/2019 12/18/2019 $0.07290 $15.39

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

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/17/2018 12/18/2018 $1.5793 - $1.5793 $12.98

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
12/16/2021 12/17/2021

Fees & Expenses

Fees & Expenses

Expense Ratioas of 08/31/2021

1.99%

Fund Documents

Fund Documents

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Portfolio Holdings 1Q
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