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Multi-Asset Balanced Opportunity Fund

Summary

Summary

What is the Multi-Asset Balanced Opportunity Fund?

The Fund seeks to deliver long-term growth of capital with current monthly income by investing primarily in Lord Abbett Funds that invest in a wide variety of U.S. stocks and bonds along with select international securities.

DIVERSE ASSETS

This Fund is designed with the flexibility to invest in bonds, stocks, and currencies from around the world.

TACTICALLY MANAGED

The investment team can rapidly shift allocations based on market opportunities and to hedge unwanted exposures.

STRONG GROWTH WITH INCOME

Led by a senior Investment Committee, the Fund has delivered competitive performance and attractive income.

Yield

12-Month Dividend Yield 1 as of 02/15/2019  

w/o sales charge 3.91%

30-Day Standardized Yield 2 as of 01/31/2019  

2.45%

Fund Basicsas of 12/31/2018

Total Net Assets
$1.40 B
Inception Date
10/19/2004
Dividend Frequency
Monthly
Fund Expense Ratio
0.95%
CUSIP
543916696
Minimum Initial Investment
$1,000,000+

Fund Expense Ratio :

0.95%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 7.17% -4.91% 8.23% 4.49% 9.60% 5.95%
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 5.15% -3.34% 7.17% 4.57% 8.54% -
Russell 1000® Index 8.38% -2.17% 14.14% 10.68% 15.17% 8.91%

Fund Expense Ratio :

0.95%

Fund Expense Ratio :

0.95%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge -8.53% -8.53% 4.26% 2.71% 8.38% 5.47%
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds -5.81% -5.81% 4.31% 3.18% 7.51% -
Russell 1000® Index -4.78% -4.78% 9.09% 8.21% 13.28% 8.35%

Fund Expense Ratio :

0.95%

RELATED CONTENT

Asset Allocation: Why Active Management Matters
April 17, 2017

One attraction of actively managed multi-asset funds is their flexibility to capitalize on divergent performance across asset classes through tactical allocation

Investment Team

martini
Giulio Martini

Partner, Director of Strategic Asset Allocation

34 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Chief Investment Officer

28 Years of Industry Experience

Jeffrey Herzog
Jeffrey Herzog, Ph.D.

Portfolio Manager

10 Years of Industry Experience

David B. Ritt
David B. Ritt, CFA

Portfolio Manager

21 Years of Industry Experience

Supported By 8 Investment Professionals with 26 Years Avg. Industry Experience

Contact a Representative

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

Performance

Performance

12-Month Dividend Yield 1 as of 02/15/2019  

w/o sales charge 3.91%

30-Day Standardized Yield 2 as of 01/31/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 2.45% 2.45%

Fund Expense Ratio :

0.95%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge 7.17% -4.91% 8.23% 4.49% 9.60% 5.95%
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 5.15% -3.34% 7.17% 4.57% 8.54% -
Russell 1000® Index 8.38% -2.17% 14.14% 10.68% 15.17% 8.91%

Fund Expense Ratio :

0.95%

Fund Expense Ratio :

0.95%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 10/19/2004
w/o sales charge -8.53% -8.53% 4.26% 2.71% 8.38% 5.47%
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds -5.81% -5.81% 4.31% 3.18% 7.51% -
Russell 1000® Index -4.78% -4.78% 9.09% 8.21% 13.28% 8.35%

Fund Expense Ratio :

0.95%

Year Fund Returns Russell 1000® Index
2018 -8.53% -4.78%
2017 10.86% 21.69%
2016 11.75% 12.05%
2015 -5.02% 0.92%
2014 6.19% 13.24%
2013 18.34% 33.11%
2012 14.99% 16.42%
2011 -3.15% 1.50%
2010 12.15% 16.10%
2009 32.42% 28.43%
2008 -28.31% -
2007 6.15% -
2006 13.02% -
2005 2.82% -
2004 7.66% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 - - - - 9.66%
2018 -0.79% 0.21% 4.17% -11.68% -8.53%
2017 3.36% 1.52% 2.41% 3.16% 10.86%
2016 0.55% 2.88% 4.73% 3.15% 11.75%
2015 2.06% -0.47% -7.72% 1.32% -5.02%
2014 2.81% 4.07% -2.59% 1.89% 6.19%
2013 6.80% 0.30% 4.72% 5.49% 18.34%
2012 9.54% -3.70% 5.38% 3.44% 14.99%
2011 4.52% 0.05% -14.22% 7.96% -3.15%
2010 4.03% -8.60% 9.91% 7.32% 12.15%
2009 -5.02% 15.87% 15.36% 4.31% 32.42%
2008 -6.39% -1.40% -8.08% -15.50% -28.31%
2007 1.55% 3.47% 2.50% -1.43% 6.15%
2006 3.87% -0.50% 4.96% 4.19% 13.02%
2005 -2.03% 0.61% 2.77% 1.51% 2.82%
2004 - - - - 7.66%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 12/31/2018

  • Risk assets sold off dramatically in the fourth quarter of 2018. U.S. stocks climbed to their all-time peaks in late September, just days before the U.S. Federal Reserve (Fed) raised short-term interest rates for the third time in 2018 and the eighth time since it initiated the current tightening cycle in late-2015. Despite a complete reversal of the entire equity market rally by mid-December, and a broad sell-off in risk assets globally, the Fed raised rates again on December 19th. In addition to the Fed’s monetary policy agenda, there were other reasons for the souring sentiment shared by investors. The European Central Bank (ECB) ended its Asset Purchase Program, and the U.S. administration took a more aggressive stance on tariffs and control on immigration, shifting from a market-friendly message of tax and regulatory reform.
  • There was a broad shift in growth surprise momentum globally which caught up to the U.S. in the fourth quarter. As the 2018 third quarter earnings season unfolded, management teams turned cautious about 2019 and analysts shifted from an unusually positive pattern of earnings revision to a negative one. Disappointing economic data and worsening expectations about future earnings led investors to conclude that the risks of a global downturn had risen by enough to start pricing it in aggressively. Similar expectations were being priced into fixed income markets as well. The U.S. yield curve flattened significantly in the fourth quarter, prompting fears of an imminent recession.
  • It seems unlikely that falling stock prices are signaling an imminent downturn given: economic growth remains strong, inflation remains below the Fed’s target, financial conditions are mostly calm, and consumer confidence remains high while spending is strong. Potential risks could include a spike in oil prices, but most recently, they have been declining and injecting purchasing power into the economy.
  • We believe that credit spreads have widened beyond the risk premium consistent with recent default risk and recovery rates and that sustained economic growth with low inflation would likely be accompanied by credit spreads re-tightening. Thus, the risk/reward profile of risk assets such as convertibles and stocks continues to be relatively attractive.
  • As such, we slightly increased the portfolio’s allocation towards large cap equities this quarter. We also increased exposure to both high yield and convertible bonds. With valuations having contracted considerably and the overall macro environment still favorable, we feel the U.S. is poised to rebound from a tumultuous fourth quarter in a still-favorable environment for risk asset returns.
Holding Assets
High Yield Fund 17.8%
Calibrated Large Cap Value Fund 13.5%
Growth Leaders Fund 12.2%
Convertible Fund 10.1%
Calibrated Mid Cap Value Fund 9.7%
Growth Opportunities Fund 9.1%
Emerging Markets Bond Fund 5.6%
International Equity Fund 5.5%
International Value Fund 5.5%
Inflation Focused Fund 5.2%
Mid Cap Stock Fund 4.2%
Ultra Short Bond Fund 1.4%
Holding Assets
FX JPY/EUR 01/192.5%
FX EUR/JPY 01/191.2%
FX EUR/JPY 01/191.2%
MSCI EMGMKT MAR191.1%
NIKKEI 225 (CME) MAR191.0%
S&P500 EMINI FUT MAR191.0%
FX USD/EUR 01/190.0%
US ULTRA BOND CBT MAR19-0.9%
NASDAQ 100 E-MINI MAR19-1.6%
MSCI EAFE MAR19-2.2%
US 10YR NOTE (CBT)MAR19-3.4%

Equity Sector Allocation as of 12/31/2018

Sector Assets
Information Technology
Financials
Health Care
Consumer Discretionary
Industrials
Telecommunication Services
Consumer Staples
Energy
Real Estate
Utilities
Materials
Unclassified

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 02/15/2019
$0.008
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
01/30/2019 01/31/2019 01/31/2019 $0.00890 $10.74

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
02/27/2019 02/28/2019 02/28/2019
03/28/2019 03/29/2019 03/29/2019
04/29/2019 04/30/2019 04/30/2019
05/30/2019 05/31/2019 05/31/2019
06/27/2019 06/28/2019 06/28/2019
07/30/2019 07/31/2019 07/31/2019
08/29/2019 08/30/2019 08/30/2019
09/26/2019 09/27/2019 09/27/2019
10/30/2019 10/31/2019 10/31/2019
11/26/2019 11/27/2019 11/27/2019
12/26/2019 12/27/2019 12/27/2019

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/19/2018 12/20/2018 $0.3306 $0.0114 $0.3420 $9.97

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
12/19/2019 12/20/2019

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 01/31/2019

0.95%

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
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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
Capital Markets Presentation
Publish Date:11/03/2015
Brochure
Publish Date:11/03/2015

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The Russell 1000 Index® measures the performance of the 1,000 largest companies in the Russell 3000 Index, which represents approximately 92% of the total market capitalization of the Russell 3000 Index.

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