International Opportunities Fund

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LAIEX

International Opportunities Fund

LAIEX

Daily price w/o sales charge as of 06/02/2023

$17.42

$0.23

YTD Returns w/o sales charge as of 06/02/2023

8.40%

Please click here for performance current to the most recent quarter-end and month-end.

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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%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

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%

Returns with sales charges reflect a maximum sales charge of 5.75%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

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 classifications of countries are defined by Lord Abbett and may not be consistent with the S&P region definitions. Country classifications of securities held within the universe of S&P indexes are defined by S&P. Country classifications of securities held by the portfolio only, and not included within the universe of S&P indexes, are defined by Lord Abbett.

Region	Weighting	Fund Change from Previous Quarter
Europe ex-U.K.		1.4%
Japan		0.5%
United Kingdom		0.6%
Asia/Pacific		1.2%
Americas		0.6%
EMEA		0.1%
Cash		0.3%

Regional Allocation source: Lord Abbett and Bloomberg. Sector Breakdown source: Wilshire. Region classifications of countries are defined by Lord Abbett and may not be consistent with the S&P region definitions. Country classifications of securities held within the universe of S&P indexes are defined by S&P. Country classifications of securities held by the portfolio only, and not included within the universe of S&P indexes, are defined by Lord Abbett.

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.2%
Real Estate		0.4%
Utilities		0.2%
Consumer Discretionary		0.2%
Consumer Staples		0.6%
Energy		0.1%
Financials		1.1%
Health Care		0.9%
Industrials		0.2%
Information Technology		1.1%
Materials		0.7%

INVESTMENT TEAM

Todd D. Jacobson, CFA

Partner & Portfolio Manager

35 Years of Industry Experience

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

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%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

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%

Returns with sales charges reflect a maximum sales charge of 5.75%.

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%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

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

NAV Historical Prices

Date	Net Asset Value

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.		1.4%
Japan		0.5%
United Kingdom		0.6%
Asia/Pacific		1.2%
Americas		0.6%
EMEA		0.1%
Cash		0.3%

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.2%
Real Estate		0.4%
Utilities		0.2%
Consumer Discretionary		0.2%
Consumer Staples		0.6%
Energy		0.1%
Financials		1.1%
Health Care		0.9%
Industrials		0.2%
Information Technology		1.1%
Materials		0.7%

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

To view definitions for the above Portfolio Details, Click here.

Market Capitalization Breakdown - Morningstar separates stock portfolio holdings into five market-capitalization groups: Giant, Large, Mid, Small, and Micro. Of the 5000 largest domestic stocks in their equities database, the top 1% are categorized as Giant, the next 4% are Large, the next 15% are Mid, the next 30% are Small, and the remaining 50% are Micro. Stocks outside of the largest 5000 are also classified as Micro.

Weighted Average Market Cap - The average market capitalization of all companies held in the portfolio with each company weighted according to its percent held in the portfolio. The result is based upon a weighted average of the securities held in the fund.

P/B Ratio - A ratio that helps determine whether a stock is undervalued or overvalued. It is calculated by dividing a stock's price per share by its book value per share. The result is based upon a weighted average of the securities held in the fund.

P/E Ratio - Is the weighted average of each holding's P/E ratio (price of a stock divided by its earnings per share). The result is based upon a weighted average of the securities held in the fund.

Portfolio Turnover - This is a measure of the Fund’s trading activity which is computed by taking the lesser of purchases or sales divided by average monthly market value, excluding short-term investments. The resulting percentage represents the percentage of the portfolio’s holdings that have changed over the past year.

Holding	Sector	Assets

Brookfield Infrastructure Corp	Utilities	2.4%
ANDRITZ AG	Industrials	2.1%
Gerresheimer AG	Health Care	2.1%
REN - Redes Energeticas Nacionais SGPS SA	Utilities	1.8%
Tecan Group AG	Health Care	1.8%
B&M European Value Retail SA	Consumer Discretionary	1.7%
Britvic PLC	Consumer Staples	1.7%
PALTAC Corp	Consumer Discretionary	1.7%
Okinawa Cellular Telephone Co	Communication Services	1.6%
Freenet AG	Communication Services	1.5%

% of Total Assets		18.3%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding	Sector	Assets

Brookfield Infrastructure Corp	Utilities	2.4%
Gerresheimer AG	Health Care	2.1%
ANDRITZ AG	Industrials	2.1%
REN - Redes Energeticas Nacionais SGPS SA	Utilities	1.8%
Tecan Group AG	Health Care	1.8%
B&M European Value Retail SA	Consumer Discretionary	1.7%
PALTAC Corp	Consumer Discretionary	1.7%
Britvic PLC	Consumer Staples	1.7%
Okinawa Cellular Telephone Co	Communication Services	1.6%
Freenet AG	Communication Services	1.5%
Brunello Cucinelli SpA	Consumer Discretionary	1.4%
Loomis AB	Industrials	1.4%
Interparfums SA	Consumer Staples	1.4%
Tate & Lyle PLC	Consumer Staples	1.4%
Pakuwon Jati Tbk PT	Real Estate	1.3%
Nichirei Corp	Consumer Staples	1.3%
Simplex Holdings Inc	Information Technology	1.3%
DMG Mori Co Ltd	Industrials	1.3%
Brembo SpA	Consumer Discretionary	1.3%
Vidrala SA	Materials	1.3%
Salvatore Ferragamo SpA	Consumer Discretionary	1.3%
Stroeer SE & Co KGaA	Communication Services	1.2%
Capstone Copper Corp	Materials	1.2%
OSG Corp	Industrials	1.2%
Marel HF	Industrials	1.2%
NS Solutions Corp	Information Technology	1.2%
Concentric AB	Industrials	1.2%
Senior PLC	Industrials	1.2%
Kansai Paint Co Ltd	Materials	1.2%
OBIC Business Consultants Co Ltd	Information Technology	1.2%
WH Smith PLC	Consumer Discretionary	1.2%
Air New Zealand Ltd	Industrials	1.2%
GUD Holdings Ltd	Consumer Discretionary	1.1%
Fujitec Co Ltd	Industrials	1.1%
Gaztransport Et Technigaz SA	Energy	1.1%
Chemring Group PLC	Industrials	1.1%
Energean PLC	Energy	1.1%
Assura PLC	Real Estate	1.1%
Sanwa Holdings Corp	Industrials	1.0%
Breedon Group PLC	Materials	1.0%
Tricon Residential Inc	Real Estate	1.0%
Phoenix Mills Ltd/The	Real Estate	1.0%
Banca Mediolanum SpA	Financials	1.0%
Coca-Cola Bottlers Japan Holdings Inc	Consumer Staples	1.0%
CI Financial Corp	Financials	1.0%
MEG Energy Corp	Energy	1.0%
Grafton Group PLC	Industrials	1.0%
Federal Bank Ltd	Financials	1.0%
SHO-BOND Holdings Co Ltd	Industrials	1.0%
Rheinmetall AG	Industrials	1.0%
BAWAG Group AG	Financials	1.0%
Money Forward Inc	Information Technology	1.0%
Aica Kogyo Co Ltd	Materials	1.0%
TechnoPro Holdings Inc	Industrials	0.9%
Dechra Pharmaceuticals PLC	Health Care	0.9%
Zuken Inc	Information Technology	0.9%
Autoliv Inc	Consumer Discretionary	0.9%
Dalata Hotel Group PLC	Consumer Discretionary	0.9%
SIG Group AG	Materials	0.8%
Genus PLC	Health Care	0.8%
Spectris PLC	Information Technology	0.8%
Saizeriya Co Ltd	Consumer Discretionary	0.8%
Lancashire Holdings Ltd	Financials	0.8%
Soulbrain Co Ltd	Materials	0.8%
Montana Aerospace AG	Industrials	0.8%
Man Group PLC/Jersey	Financials	0.8%
Taiyo Yuden Co Ltd	Information Technology	0.8%
WONIK IPS Co Ltd	Information Technology	0.8%
Ubisoft Entertainment SA	Communication Services	0.8%
Warehouses De Pauw CVA	Real Estate	0.8%
IPH Ltd	Industrials	0.8%
ConvaTec Group PLC	Health Care	0.8%
GLP J-Reit	Real Estate	0.8%
Banco de Sabadell SA	Financials	0.8%
Vicat SA	Materials	0.7%
Interfor Corp	Materials	0.7%
Gentera SAB de CV	Financials	0.6%
Applus Services SA	Industrials	0.6%
CMS Info Systems Ltd	Industrials	0.6%
Intercorp Financial Services Inc	Financials	0.6%
Resona Holdings Inc	Financials	0.6%
BE Semiconductor Industries NV	Information Technology	0.5%
Bolsa Mexicana de Valores SAB de CV	Financials	0.5%
IIFL Finance Ltd	Financials	0.5%
Axfood AB	Consumer Staples	0.5%
Aedifica SA	Real Estate	0.5%
Bank Tabungan Negara Persero Tbk PT	Financials	0.5%
Esker SA	Information Technology	0.5%
Realtek Semiconductor Corp	Information Technology	0.5%
Shizuoka Financial Group Inc	Financials	0.5%
Dentium Co Ltd	Health Care	0.5%
Tel Aviv Stock Exchange Ltd	Financials	0.5%
AIXTRON SE	Information Technology	0.4%
Nordic Semiconductor ASA	Information Technology	0.4%
Sulzer AG	Industrials	0.4%
Melco International Development Ltd	Consumer Discretionary	0.4%
Buzzi Unicem SpA	Materials	0.3%

Dividends & Cap Gains

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

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor.

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

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

SALES CHARGE REDUCTIONS AND WAIVERS

Please inform the fund company or your financial intermediary at the time of your purchase of fund shares if you believe you qualify for a reduced front-end sales charge.

Reducing Your Class A Share Front-End Sales Charge
You may purchase Class A shares at a discount if you qualify under the circumstances outlined below. To receive a reduced front-end sales charge, you must let the fund or your financial intermediary know at the time of your purchase of fund shares that you believe you qualify for a discount. If you or a related party have holdings of eligible funds (as defined below) in other accounts with your financial intermediary or with other financial intermediaries that may be combined with your current purchases in determining the sales charge as described below, you must inform a fund or your financial intermediary. You may be asked to provide supporting account statements or other information to allow us or your financial intermediary to verify your eligibility for a discount. If you or your financial intermediary do not notify a fund or provide the requested information, you may not receive the reduced sales charge for which you otherwise qualify. Class A shares may be purchased at a discount if you qualify under either of the following conditions:

Rights of Accumulation - A Purchaser (as defined below) may combine thevalue of Class A, A1, C, F, and P shares of any Eligible Fund currentlyowned with a new purchase of Class A shares of any Eligible Fund in orderto reduce the sales charge on the new purchase. Class F3, I, R2, R3, R4, R5,and R6 share holdings may not be combined for these purposes.To the extent that your financial intermediary is able to do so, the value ofClass A, A1, C, F, and P shares of Eligible Funds determined for the purposeof reducing the sales charge of a new purchase under the Rights ofAccumulation will be calculated at the higher of: (1) the aggregate currentmaximum offering price of your existing Class A, A1, C, F, and P shares ofEligible Funds; or (2) the aggregate amount you invested in such shares(including dividend reinvestments but excluding capital appreciation) less anyredemptions. You should retain any information and account recordsnecessary to substantiate the historical amounts you and any relatedPurchasers have invested in Eligible Funds. You must inform the Fund and/or your financial intermediary at the time of purchase if you believe yourpurchase qualifies for a reduced sales charge and you may be requested toprovide documentation of your holdings in order to verify your eligibility. Ifyou do not do so, you may not receive all sales charge reductions for whichyou are eligible.
Letter of Intention — In order to reduce your Class A front-end salescharge, a Purchaser may combine purchases of Class A, A1, C, F, and Pshares of any Eligible Fund the Purchaser intends to make over the next13 months in determining the applicable sales charge. The 13-month Letterof Intention period commences on the day that the Letter of Intention isreceived by the Fund, and the Purchaser must tell the Fund that laterpurchases are subject to the Letter of Intention. Purchases submitted prior tothe date the Letter of Intention is received by the Fund are not countedtoward the sales charge reduction. Current holdings under Rights ofAccumulation may be included in a Letter of Intention in order to reduce thesales charge for purchases during the 13-month period covered by the Letterof Intention. Shares purchased through reinvestment of dividends ordistributions are not included. Class F3, I, R2, R3, R4, R5, and R6 shareholdings may not be combined for these purposes. Class A and A1 shares valued at up to 5% of the amount of intended purchases are escrowed andmay be redeemed to cover the additional sales charges payable if the intendedpurchases under the Letter of Intention are not completed. The Letter ofIntention is neither a binding obligation on you to buy, nor on the Fund tosell, any or all of the intended purchase amount.

Purchaser — A Purchaser includes: (1) an individual; (2) an individual, his or her spouse, domestic partner, and childrenunder the age of 21; (3) retirement and benefit plansincluding a 401(k) plan, profit-sharing plan, moneypurchase plan, defined benefit plan, and 457(b) plan sponsored by a governmental entity, non-profitorganization, school district or church to which employer contributions are made, as well as SIMPLE IRAplans and SEP-IRA plans; or (4) a trustee or other fiduciary purchasing shares for a single trust, estate orsingle fiduciary account or a trust established by the individual as grantor. An individual may include underitem (1) his or her holdings in Eligible Funds as described below in IRAs, as a sole participant of aretirement and benefit plan sponsored by the individual’s business, and as a participant in a 403(b) plan towhich only pre-tax salary deferrals are made. An individual, his or her spouse, and domestic partner mayinclude under item (2) their holdings in IRAs, and as the sole participants in retirement and benefit planssponsored by a business owned by either or both of them. A retirement and benefit plan under item (3)includes all qualified retirement and benefit plans of a single employer and its consolidated subsidiaries,and all qualified retirement and benefit plans of multiple employers registered in the name of a singlebank trustee.

Eligible fund — An eligible fund is any Lord Abbett-sponsored fund except for (1) each portfolio of Lord Abbett Series Fund, Inc., (2) Lord Abbett U.S. Government & Government Sponsored Enterprises Money Market Fund, Inc. ("Money Market Fund") (except for holdings in Money Market Fund, which are attributable to any shares exchanged from the Lord Abbett-sponsored funds), and (3) any other fund the shares of which are not available to the investor at the time of the transaction due to a limitation on the offering of a fund's shares.

Front-end Sales Charge Waivers
Class A shares may be purchased without a front-end sales charge under any of the following conditions:

purchases of $1 million or more (may be subject to a CDSC);
purchases by retirement and benefit plans with at least 100 eligible employees (may be subject to a CDSC);
purchases for retirement and benefit plans made through financial intermediaries that perform participant recordkeeping or other administrative services for the plans and that have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases (may be subject to a CDSC);
purchases made by or on behalf of financial intermediaries for clients that pay the financial intermediaries fees in connection with fee-based advisory program, provided that the financial intermediaries or their trading agents have entered into special arrangements with a fund and/or Lord Abbett Distributor specifically for such purchases; and
certain other types of investors may qualify to purchase Class A share without a front-end sales charge as described in the Statement of Additional Information (SAI).

Expense Ratioas of 04/30/2023

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

Fund Documents

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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

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.

IMPORTANT INFORMATION

A Note about Risk: The Fund invests primarily in foreign small and mid cap company stocks, which tend to be more volatile and less liquid than U.S. or large cap company stocks. Foreign securities generally pose greater risks than domestic securities, including greater price fluctuations and higher transaction costs. Foreign investments may be affected by changes in currency rates or currency controls. With respect to certain foreign countries, there is a possibility of nationalization, expropriation or confiscatory taxation, imposition of withholding or other taxes, and political or social instability that could affect investments in those countries. These risks can be greater in the case of emerging country securities. Small and mid cap companies may have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies. The Fund is subject to the risks associated with derivatives, which may be different from and greater than the risks associated with investing directly in securities and other investments. These factors can affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

Class A Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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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

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Countryas of 04/28/2023View Portfolio

INVESTMENT TEAM

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Performance

Performance

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

Fund Expense Ratio :

Gross 1.26%

Net 1.26%

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

NAV Historical Prices

Portfolio

Portfolio

Countryas of 04/28/2023

Portfolio Positioning as of 03/31/2023

Portfolio Details as of 04/28/2023

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 06/02/2023

Expense Ratioas of 04/30/2023

Fund Documents

Fund Documents

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