LAIEX | International Opportunities Fund Class A | Lord Abbett

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International Opportunities Fund

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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 04/28/2023

Total Net Assets
$339.62 M
Inception Date
12/13/1996
Dividend Frequency
Annually
Fund Gross Expense Ratio
1.26%
Fund Net Expense Ratio
1.26%
Number of Holdings
96
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/13/1996
w/o sales charge 5.35% -2.00% 7.27% 0.25% 4.63% 4.63%
Lipper Category Avg. International Sm/Md-Cp Gro Fds - - - - - -
S&P Developed Ex-U.S. SmallCap 3.36% -4.88% 6.02% 0.67% 5.42% 6.38%
w/ sales charge -0.70% -7.63% 5.17% -0.93% 4.02% 4.39%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/13/1996
w/o sales charge 8.71% -4.06% 14.48% 0.39% 5.15% 4.78%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 6.18% -10.03% 11.88% 1.19% 5.37% -
S&P Developed Ex-U.S. SmallCap 6.57% -8.90% 13.70% 1.47% 5.86% 6.54%
w/ sales charge 2.46% -9.58% 12.24% -0.80% 4.53% 4.54%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Countryas of 04/28/2023View Portfolio

Country Assets
Japan 22.3%
United Kingdom 14.6%
Germany 6.3%
Italy 5.3%
Canada 5.0%
France 4.5%
Switzerland 3.8%
Sweden 3.1%
India 3.1%
Austria 3.1%
Cash 3.0%
Spain 2.7%
Republic of Korea 2.1%
Australia 1.9%
Indonesia 1.8%
Ireland 1.8%
Portugal 1.8%
Belgium 1.3%
Iceland 1.2%
Mexico 1.2%
New Zealand 1.2%
Jersey 1.0%
Panama 0.6%
Netherlands 0.5%
Taiwan 0.5%
Israel 0.5%
Norway 0.4%
Hong Kong 0.4%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowDown1.4%
Japan arrowUp0.5%
United Kingdom arrowUp0.6%
Asia/Pacific arrowUp1.2%
Americas arrowDown0.6%
EMEA arrowUp0.1%
Cash arrowDown0.3%

INVESTMENT TEAM

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

35 Years of Industry Experience

Vincent J. McBride
Vincent J. McBride

Partner & Portfolio Manager

36 Years of Industry Experience

Supported By 36 Investment Professionals with 18 Years Avg. Industry Experience

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Performance

Performance

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/13/1996
w/o sales charge 5.35% -2.00% 7.27% 0.25% 4.63% 4.63%
Lipper Category Avg. International Sm/Md-Cp Gro Fds - - - - - -
S&P Developed Ex-U.S. SmallCap 3.36% -4.88% 6.02% 0.67% 5.42% 6.38%
w/ sales charge -0.70% -7.63% 5.17% -0.93% 4.02% 4.39%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/13/1996
w/o sales charge 8.71% -4.06% 14.48% 0.39% 5.15% 4.78%
Lipper Category Avg. International Sm/Md-Cp Gro Fds 6.18% -10.03% 11.88% 1.19% 5.37% -
S&P Developed Ex-U.S. SmallCap 6.57% -8.90% 13.70% 1.47% 5.86% 6.54%
w/ sales charge 2.46% -9.58% 12.24% -0.80% 4.53% 4.54%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Year Fund Returns S&P Developed Ex-U.S. SmallCap
2022 -20.35% -21.41%
2021 9.53% 9.56%
2020 14.29% 14.27%
2019 21.25% 24.65%
2018 -23.74% -18.41%
2017 37.97% 32.37%
2016 -3.41% 3.79%
2015 9.86% 5.92%
2014 -6.06% -3.42%
2013 30.99% 26.06%
2012 20.35% -
2011 -15.23% -
2010 21.27% -
2009 49.08% -
2008 -51.20% -
2007 4.17% -
2006 28.67% -
2005 25.40% -
2004 20.62% -
2003 42.54% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 8.71% - - - 8.40%
2022 -9.75% -14.15% -11.64% 16.32% -20.35%
2021 2.71% 7.31% -0.24% -0.38% 9.53%
2020 -27.75% 21.27% 9.45% 19.19% 14.29%
2019 9.56% 2.54% -1.84% 9.96% 21.25%
2018 -1.69% -4.28% -3.60% -15.94% -23.74%
2017 9.89% 9.41% 8.44% 5.83% 37.97%
2016 -1.22% -4.28% 7.31% -4.81% -3.41%
2015 6.70% 5.55% -7.09% 4.99% 9.86%
2014 1.04% 2.35% -7.80% -1.49% -6.06%
2013 9.23% -0.34% 11.78% 7.65% 30.99%
2012 15.23% -9.22% 10.25% 4.36% 20.35%
2011 1.27% 2.35% -20.99% 3.51% -15.23%
2010 4.32% -11.73% 19.65% 10.08% 21.27%
2009 -11.19% 36.73% 22.70% 0.05% 49.08%
2008 -12.51% -4.94% -24.96% -21.80% -51.20%
2007 4.86% 7.15% -1.88% -5.52% 4.17%
2006 12.95% -2.93% 3.43% 13.46% 28.67%
2005 1.51% 1.58% 13.46% 7.18% 25.40%
2004 9.23% 2.19% -4.08% 12.66% 20.62%
2003 -5.90% 18.47% 11.73% 14.43% 42.54%
2002 -3.84% -1.03% -20.18% 3.16% -21.64%
2001 -19.66% -0.95% -19.68% 7.46% -31.32%
2000 15.71% -13.41% -0.52% -23.30% -23.55%
1999 -0.15% 8.58% -2.42% 20.29% 27.26%
1998 23.70% 4.93% -19.01% 9.86% 15.50%
1997 6.23% 5.17% 2.93% 4.10% 19.71%
1996 - - - - 0.42%

Growth of $10,000 as of 03/31/2023

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 04/28/2023

Country Assets
Japan 22.3%
United Kingdom 14.6%
Germany 6.3%
Italy 5.3%
Canada 5.0%
France 4.5%
Switzerland 3.8%
Sweden 3.1%
India 3.1%
Austria 3.1%
Cash 3.0%
Spain 2.7%
Republic of Korea 2.1%
Australia 1.9%
Indonesia 1.8%
Ireland 1.8%
Portugal 1.8%
Belgium 1.3%
Iceland 1.2%
Mexico 1.2%
New Zealand 1.2%
Jersey 1.0%
Panama 0.6%
Netherlands 0.5%
Taiwan 0.5%
Israel 0.5%
Norway 0.4%
Hong Kong 0.4%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowDown1.4%
Japan arrowUp0.5%
United Kingdom arrowUp0.6%
Asia/Pacific arrowUp1.2%
Americas arrowDown0.6%
EMEA arrowUp0.1%
Cash arrowDown0.3%

Portfolio Positioning as of 03/31/2023

  • We still place most of our focus on individual companies and key themes we derive from intensive company research. Looking ahead, we remain optimistic on the outlook for a broad, gradual European recovery as energy concerns continue to abate. We also remain optimistic on the continuation of China’s economic reopening process as it is expected to positively impact both local and regional economies.
  • With that said, there are risks still abound; most notably, the uncertainty coming from rate hikes to address inflation and the continued risks from war in Europe, even if things may be getting “less bad” on a relative basis. Therefore, we have reduced risk where prudent, reeling in many of the portfolio’s active sector weights, understanding that the macro backdrop remains, at minimum, uncertain. Unlike some of the recent recoveries from economic and market downturns (e.g., 2003, 2009, 2020), it appears less likely that there will be a global coordinated stimulus from fiscal and monetary authorities, meaning that a powerful beta/junk rally is also less likely. Instead, as the current bear market ends and a new bull market takes shape, it will likely be quality metrics, such as strong return on equity and healthy balance sheets, along with long-term competitive advantages and pricing power, that prove to be key factors in which companies outperform. As a result, the portfolio has been tilted towards these types of resilient quality names, looking to preserve capital and manage risk-reward tradeoffs.
  • From a positioning standpoint, the most notable shift in composition over the quarter was a reduction in Japanese banks. Coming into the quarter, we had been increasing exposure to this area following the Bank of Japan’s surprise decision to widen the band around its 10-year yield target, a move that will allow long-term rates to rise more. However, as interest rates have started to show signs of peaking and the potential for an easing of global monetary policy has come into focus, we took down our exposure to Japanese banks and largely redeployed those assets into real estate, an area of the market that should benefit more in a lower rate environment.
  • Lastly, international small cap stocks have largely underperformed their larger capitalized counterparts for much for the last year. However, it should be noted that the relationship between small cap and large cap performance is very correlated to the direction of credit spreads and we have begun to see spreads contract despite recessionary concerns. That said, as global central banks near the end of their tightening cycle and financial conditions start to become more accommodating, we believe this could create a great backdrop for international small cap stocks.

Portfolio Details as of 04/28/2023

Weighted Average Market Cap.
3.2 B
P/E Ratio
17.2x
P/B Ratio
1.7x
Number of Holdings
96
Total Net Assets
$339.62 M

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 06/02/2023
$0
Dividend Frequency
Annually
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/19/2022 12/20/2022 12/20/2022 $0.27090 $15.91

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
12/18/2023 12/19/2023 12/19/2023

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 $13.98

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 06/02/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $50,000 5.75% 5.00% $18.48
$50,000 to $99,999 4.75% 4.00% $18.29
$100,000 to $249,999 3.95% 3.25% $18.14
$250,000 to $499,999 2.75% 2.25% $17.91
$500,000 to $999,999 1.95% 1.75% $17.77
$1,000,000 to $5,000,000 0.00% 1.00% $17.42

Expense Ratioas of 04/30/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
1.26% 1.26%

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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