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 12/31/2021

Total Net Assets
$454.69 M
Inception Date
06/02/1997
Dividend Frequency
Annually
Fund Expense Ratio
1.99%
Number of Holdings
98
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 8.74% 8.74% 14.05% 9.00% 8.85% 4.67%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 11.34% 11.34% 18.14% 12.72% 10.71% -
S&P Developed Ex-U.S. SmallCap 9.56% 9.56% 15.99% 11.01% 10.34% 7.62%

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 8.74% 8.74% 14.05% 9.00% 8.85% 4.67%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 11.34% 11.34% 18.14% 12.72% 10.71% -
S&P Developed Ex-U.S. SmallCap 9.56% 9.56% 15.99% 11.01% 10.34% 7.62%

Fund Expense Ratio :

1.99%

Countryas of 12/31/2021View Portfolio

Country Assets
Japan 18.7%
United Kingdom 15.1%
Germany 8.6%
Sweden 8.4%
Austria 5.0%
Switzerland 4.9%
Italy 4.3%
Australia 3.8%
Canada 3.0%
India 2.8%
Spain 2.5%
France 2.5%
Republic of Korea 2.3%
Cash 2.0%
Norway 1.9%
Hong Kong 1.7%
China 1.4%
Ireland 1.3%
United States 1.3%
Jersey 1.3%
Portugal 1.3%
Iceland 1.3%
Belgium 1.2%
Finland 1.0%
Mexico 0.9%
Luxembourg 0.8%
Israel 0.7%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.9%
Japan arrowDown1.4%
United Kingdom arrowDown0.8%
Asia/Pacific arrowUp1.6%
Americas arrowUp0.9%
EMEA arrowUp0.1%
Cash arrowDown2.3%

INVESTMENT TEAM

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

33 Years of Industry Experience

Vincent J. McBride
Vincent J. McBride

Partner & Portfolio Manager

34 Years of Industry Experience

Supported By 34 Investment Professionals with 19 Years Avg. Industry Experience

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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 8.74% 8.74% 14.05% 9.00% 8.85% 4.67%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 11.34% 11.34% 18.14% 12.72% 10.71% -
S&P Developed Ex-U.S. SmallCap 9.56% 9.56% 15.99% 11.01% 10.34% 7.62%

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 8.74% 8.74% 14.05% 9.00% 8.85% 4.67%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 11.34% 11.34% 18.14% 12.72% 10.71% -
S&P Developed Ex-U.S. SmallCap 9.56% 9.56% 15.99% 11.01% 10.34% 7.62%

Fund Expense Ratio :

1.99%

Year Fund Returns S&P Developed Ex-U.S. SmallCap
2021 8.74% 9.56%
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% -
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% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2022 - - - - -7.09%
2021 2.55% 7.12% -0.41% -0.59% 8.74%
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 12/31/2021

Country Assets
Japan 18.7%
United Kingdom 15.1%
Germany 8.6%
Sweden 8.4%
Austria 5.0%
Switzerland 4.9%
Italy 4.3%
Australia 3.8%
Canada 3.0%
India 2.8%
Spain 2.5%
France 2.5%
Republic of Korea 2.3%
Cash 2.0%
Norway 1.9%
Hong Kong 1.7%
China 1.4%
Ireland 1.3%
United States 1.3%
Jersey 1.3%
Portugal 1.3%
Iceland 1.3%
Belgium 1.2%
Finland 1.0%
Mexico 0.9%
Luxembourg 0.8%
Israel 0.7%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp1.9%
Japan arrowDown1.4%
United Kingdom arrowDown0.8%
Asia/Pacific arrowUp1.6%
Americas arrowUp0.9%
EMEA arrowUp0.1%
Cash arrowDown2.3%

Portfolio Positioning as of 12/31/2021

  • This quarter we continued to take profits in outperforming areas of the portfolio, particularly in those reopening and cyclical plays that have done well this year. We are positioned in a more balanced way on economic reopening, with a more even exposure to growth versus value and cyclical versus defensive.  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.
  • We are constructive on sectors where we can have less exposure to inflation and supply chain dynamics. Real estate has been one of those areas, although we took down our exposure this quarter in an effort to rotate out of growth and take profits in successful investments. Part of this was in logistics, where we exited Warehouse Depot. We also reduced self-storage exposure by selling Big Yellow and Sureguard. We are still constructive on the sector as we believe that global ESG trends will benefit the sector as businesses look to relocate to ESG-compliant buildings.
  • The portfolio’s Emerging Markets exposure has come down mainly as a result of a reduction in our financials allocation. The portfolio’s overweight in this sector has been a big win over the course of the 2021 calendar year, but over the most recent quarter we decided to reduce as we felt there was not enough upside left in several of these stocks. We continue to be constructive on financials – another sector that is not dependent on global supply chains. Loan demand recovery has been growing faster than expected in Mexico and other economies. With rates rising and Nonperforming Loans (NPLs) coming down, we feel there is a very firm recovery taking place. We believe that financials could have some of the best earnings revisions going forward, as they now have the ability to recover what they have been underearning over the last several quarters. We will be focusing on tilting towards more interest rate sensitive financial institutions going forward.

Portfolio Details as of 12/31/2021

Weighted Average Market Cap.
3.0 B
P/E Ratio
18.6x
P/B Ratio
2.0x
Number of Holdings
98
Total Net Assets
$454.69 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  12/31/2021

Contributors

Holding Contribution
Concentric AB 0.5%
Interfor Corp. 0.5%
Austria Technology Syst 0.4%
Cint Group Ab 0.3%
Simplex Hldgs Inc 0.3%

Detractors

Holding Contribution
S4 Capital Plc -0.3%
Sanwa Holdings Corp -0.3%
Pexip Holding Asa -0.2%
Coca-Cola West Co. Ltd. -0.2%
WH Smith PLC -0.2%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 01/26/2022
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/16/2021 12/17/2021 12/17/2021 $0.32230 $18.12

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
12/17/2018 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
12/19/2022 12/20/2022

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2021

1.99%

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
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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