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International Value Fund

Summary

Summary

What is the International Value Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in the stocks of international companies that the Fund believes are undervalued.

VETERAN INTERNATIONAL MANAGERS

The management team are pioneers in exploring international equities, investing abroad since the 1980’s in what were once uncharted and unknown markets to the average U.S. investor.

VALUATION FOCUS

The strategy has a focus on stocks that Lord Abbett believes are undervalued on a relative basis with strong fundamentals and sound management teams.

MULTI-DIMENSIONAL RISK MANAGEMENT

Comprehensive risk monitoring occurs throughout the investment process, with a focus on company fundamentals and stock valuations at the security level and regional, sector, and industry exposures at the portfolio level.  

Fund Basicsas of 12/31/2019

Total Net Assets
$589.49 M
Inception Date
04/05/2017
Dividend Frequency
Quarterly
Fund Gross Expense Ratio
0.85%
Fund Net Expense Ratio
0.81%
Number of Holdings
71

Yield

12-Month Dividend Yield 1 as of 01/24/2020  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.27% 3.23%

30-Day Standardized Yield 2 as of 12/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.95% 2.91%

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 17.90% 17.90% 6.54% 1.94% 3.14% -
Lipper Category Avg. International Multi-Cp Val Fds 17.59% 17.59% 6.29% 3.67% 4.07% -
MSCI EAFE Value Net Index 16.09% 16.09% 6.31% 3.54% 3.98% -

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 17.90% 17.90% 6.54% 1.94% 3.14% -
Lipper Category Avg. International Multi-Cp Val Fds 17.59% 17.59% 6.29% 3.67% 4.07% -
MSCI EAFE Value Net Index 16.09% 16.09% 6.31% 3.54% 3.98% -

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

Countryas of 12/31/2019View Portfolio

Country Assets
Japan 17.0%
United Kingdom 16.6%
Germany 14.3%
France 13.6%
Switzerland 4.4%
Canada 3.1%
Australia 2.7%
Cayman Islands 2.7%
Italy 2.5%
Spain 2.0%
Russian Federation 1.8%
Taiwan 1.8%
Republic of Korea 1.7%
Hong Kong 1.7%
Bermuda 1.6%
Belgium 1.4%
Singapore 1.3%
Netherlands 1.3%
China 1.2%
New Zealand 1.2%
Luxembourg 1.1%
Mexico 1.1%
Brazil 1.1%
Isle of Man 1.0%
Ireland 0.8%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp0.1%
Japan arrowDown0.2%
Americas arrowUp1.1%
United Kingdom arrowDown0.1%
EMEA arrowUp0.3%
Asia/Pacific arrowUp0.3%
Cash arrowDown1.4%

INVESTMENT TEAM

Vincent J. McBride
Vincent J. McBride

Partner & Portfolio Manager

33 Years of Industry Experience

Todd D. Jacobson
Todd D. Jacobson, CFA

Partner & Portfolio Manager

32 Years of Industry Experience

Ryan Howard
Ryan C. Howard, CFA

Portfolio Manager

17 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 0.85%

Net 0.81%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 17.90% 17.90% 6.54% 1.94% 3.14% -
Lipper Category Avg. International Multi-Cp Val Fds 17.59% 17.59% 6.29% 3.67% 4.07% -
MSCI EAFE Value Net Index 16.09% 16.09% 6.31% 3.54% 3.98% -

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 17.90% 17.90% 6.54% 1.94% 3.14% -
Lipper Category Avg. International Multi-Cp Val Fds 17.59% 17.59% 6.29% 3.67% 4.07% -
MSCI EAFE Value Net Index 16.09% 16.09% 6.31% 3.54% 3.98% -

Fund Expense Ratio :

Gross 0.85%

Net 0.81%

Year Fund Returns MSCI EAFE Value Net Index
2019 17.90% 16.09%
2018 -15.64% -14.78%
2017 21.60% 21.44%
2016 2.79% 5.02%
2015 -11.44% -5.68%
2014 -2.73% -5.39%
2013 14.90% 22.95%
2012 15.94% 17.69%
2011 -8.68% -12.17%
2010 4.55% 3.25%
2009 40.97% -
2008 -34.07% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2020 - - - - -0.54%
2019 7.29% 2.22% -1.19% 8.79% 17.90%
2018 -0.96% -4.89% 1.11% -11.43% -15.64%
2017 5.92% 4.65% 5.78% 3.72% 21.60%
2016 0.24% -0.36% 4.93% -1.91% 2.79%
2015 0.12% 0.01% -13.51% 2.26% -11.44%
2014 2.29% 5.91% -6.69% -3.79% -2.73%
2013 3.20% -3.62% 10.64% 4.41% 14.90%
2012 10.82% -8.13% 6.07% 7.36% 15.94%
2011 5.80% 2.12% -18.89% 4.20% -8.68%
2010 0.21% -13.99% 16.20% 4.38% 4.55%
2009 -13.79% 29.07% 23.24% 2.80% 40.97%
2008 - - -16.55% -20.99% -34.07%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Countryas of 12/31/2019

Country Assets
Japan 17.0%
United Kingdom 16.6%
Germany 14.3%
France 13.6%
Switzerland 4.4%
Canada 3.1%
Australia 2.7%
Cayman Islands 2.7%
Italy 2.5%
Spain 2.0%
Russian Federation 1.8%
Taiwan 1.8%
Republic of Korea 1.7%
Hong Kong 1.7%
Bermuda 1.6%
Belgium 1.4%
Singapore 1.3%
Netherlands 1.3%
China 1.2%
New Zealand 1.2%
Luxembourg 1.1%
Mexico 1.1%
Brazil 1.1%
Isle of Man 1.0%
Ireland 0.8%
Region Weighting Fund Change from Previous Quarter
Europe ex-U.K. arrowUp0.1%
Japan arrowDown0.2%
Americas arrowUp1.1%
United Kingdom arrowDown0.1%
EMEA arrowUp0.3%
Asia/Pacific arrowUp0.3%
Cash arrowDown1.4%

Portfolio Positioning as of 12/31/2019

  • The portfolio is overweight the information technology sector, with an emphasis on Asian semiconductor-related companies that are experiencing a recovery in demand while valuations remains attractive.
  • The portfolio remains underweight both the communication services and utilities sectors, where we see poor industry fundamentals and unattractive valuation.
  • While global equity markets have rallied sharply over the past year, international value equities have lagged, and could be a beneficiary of valuation support and an improving economic environment.
  • Key identifiable risks include an escalation in the ongoing U.S.-China trade disputes, a prolonged Brexit process which increases economic uncertainty, and a negative global growth surprise.

Portfolio Details as of 12/31/2019

Weighted Average Market Cap.
77.2 B
P/E Ratio
12.0x
P/B Ratio
1.4x
Portfolio Turnover Ratio as of 10/31/2019
61.5%
Number of Holdings
71
Total Net Assets
$589.49 M

Attribution Analysis 

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

Contributors & Detractors as of  12/31/2019

Contributors

Holding Contribution
Anglo American plc 0.5%
Credit Agricole SA 0.4%
Taiwan Semiconductor Manufacturing Co., Ltd. 0.4%
Persimmon plc 0.4%
Oil Company Lukoil Pjsc 0.4%

Detractors

Holding Contribution
Nokia Corp. -0.4%
Asahi Group Holdings Ltd. -0.1%
Danone -0.1%
Coca-Cola European Partners plc 0.0%
Compagnie De St-Gobain 0.0%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 01/24/2020
$0
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
12/26/2019 12/27/2019 12/27/2019 $0.03760 $7.38
09/26/2019 09/27/2019 09/27/2019 $0.02770 $6.78
06/27/2019 06/28/2019 06/28/2019 $0.12300 $6.91
03/28/2019 03/29/2019 03/29/2019 $0.05120 $6.88

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
03/26/2020 03/27/2020 03/27/2020
06/29/2020 06/30/2020 06/30/2020
09/28/2020 09/29/2020 09/29/2020
12/28/2020 12/29/2020 12/29/2020

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
0.85% 0.81%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
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
n/a
Publish Date:11/03/2015

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Class F3 - The inception date for Class F3 shares is April 4, 2017. The performance quotations for Class F3 are based on the following methods of calculation: (a) for periods prior to June 30, 2015,  a figure is used based on the historical performance of the Fund’s Class I Shares, since inception, restated to reflect all charges and fees applicable to Class F3 shares; (b) for periods prior to April 4, 2017 but after June 30, 2015, performance is based on the historical performance of the Fund’s Class R6 shares, which have an equivalent expense ratio to the Fund’s F3 shares; and (c) for periods after April 4, 2017, actual Class F3 performance is used, which reflects all charges and fees applicable to Class F3 shares.

Class F3 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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