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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 05/17/2019  

w/o sales charge 3.64%

30-Day Standardized Yield 2 as of 04/30/2019  

1.93%

Fund Basicsas of 04/30/2019

Total Net Assets
$1.50 B
Inception Date
06/30/2015
Dividend Frequency
Monthly
Fund Expense Ratio
1.23%

Fund Expense Ratio :

1.23%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.79% 4.89% 7.78% 4.49% 9.17% -
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 10.35% 5.13% 7.09% 4.86% 8.55% -
Russell 1000® Index 18.60% 13.33% 14.82% 11.41% 15.39% -

Fund Expense Ratio :

1.23%

Fund Expense Ratio :

1.23%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.09% 2.22% 7.55% 4.08% 9.84% -
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 8.24% 3.17% 6.74% 4.51% 9.04% -
Russell 1000® Index 14.00% 9.30% 13.52% 10.63% 16.05% -

Fund Expense Ratio :

1.23%

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 27 Years Avg. Industry Experience

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Performance

Performance

12-Month Dividend Yield 1 as of 05/17/2019  

w/o sales charge 3.64%

30-Day Standardized Yield 2 as of 04/30/2019  

  Subsidized5 Un-Subsidized6
w/o sales charge 1.93% 1.93%

Fund Expense Ratio :

1.23%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.79% 4.89% 7.78% 4.49% 9.17% -
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 10.35% 5.13% 7.09% 4.86% 8.55% -
Russell 1000® Index 18.60% 13.33% 14.82% 11.41% 15.39% -

Fund Expense Ratio :

1.23%

Fund Expense Ratio :

1.23%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 11.09% 2.22% 7.55% 4.08% 9.84% -
Lipper Category Avg. Mixed-Asset Target Alloc Moderate Funds 8.24% 3.17% 6.74% 4.51% 9.04% -
Russell 1000® Index 14.00% 9.30% 13.52% 10.63% 16.05% -

Fund Expense Ratio :

1.23%

Year Fund Returns Russell 1000® Index
2018 -8.75% -4.78%
2017 10.53% 21.69%
2016 11.58% 12.05%
2015 -5.25% 0.92%
2014 5.93% 13.24%
2013 18.04% 33.11%
2012 14.71% 16.42%
2011 -3.39% 1.50%
2010 11.87% 16.10%
2009 32.09% 28.43%
2008 -28.49% -
2007 5.89% -
2006 12.74% -
2005 2.56% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 11.09% - - - 11.69%
2018 -0.84% 0.15% 4.11% -11.74% -8.75%
2017 3.22% 1.56% 2.26% 3.10% 10.53%
2016 0.49% 2.92% 4.66% 3.09% 11.58%
2015 2.00% -0.53% -7.70% 1.17% -5.25%
2014 2.75% 4.00% -2.65% 1.83% 5.93%
2013 6.74% 0.23% 4.66% 5.42% 18.04%
2012 9.48% -3.76% 5.32% 3.38% 14.71%
2011 4.46% -0.01% -14.27% 7.90% -3.39%
2010 3.97% -8.66% 9.84% 7.25% 11.87%
2009 -5.08% 15.80% 15.29% 4.24% 32.09%
2008 -6.44% -1.46% -8.14% -15.56% -28.49%
2007 1.49% 3.40% 2.43% -1.49% 5.89%
2006 3.81% -0.57% 4.90% 4.13% 12.74%
2005 -2.09% 0.54% 2.70% 1.44% 2.56%

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Portfolio Positioning as of 03/31/2019

  • Risk assets bounced back significantly in the first quarter of 2019. Despite falling to 52-week lows in late December 2018, U.S. stocks climbed to near their all-time peaks by the end of March 2019. This dramatic reversal was driven by several factors: the reversal of expectations about the U.S. Federal Reserve’s monetary policy, the easing of the U.S.-China trade tensions, as well as a continued healthy economic backdrop. The Federal Reserve held the target range for the federal funds rate in a range of 2.25% - 2.50% in March, implying that there would be no interest rate increases in 2019 and only one increase in 2020. Background talk surfaced of even a possible interest rate reduction late this year or next year. In addition to the Fed’s monetary policy agenda, macro fundamentals remained supportive overall as actual corporate earnings continued to be strong, and the unemployment rate ticked back down to 3.8% (largely due to the negative impact of the government shutdown rolling off).
  • The U.S. yield curve flattened significantly in the first quarter, with the 3-month and 10-year Treasuries inverting briefly, prompting fears of an imminent recession. However, broad financial conditions are highly accommodative and conducive to growth and the Index of Leading Economic Indicators suggests faster growth to follow the recent slowdown. The Atlanta Fed has revised its estimate for 2019Q1 U.S. GDP growth from under 0.5% to 2.1% now.
  • Credit spreads have tightened this year after widening significantly at the tail end of 2018. We believe that there is still room to tighten further given that valuations are still well below recent peaks and given that we could experience sustained economic growth and low inflation going forward. Thus, the risk/reward profile of risk assets such as convertibles, high yield bonds and stocks continues to be relatively attractive.
  • As such, we maintained the portfolio’s allocation towards large cap equities this quarter. We also maintained exposure to both high yield and convertible bonds. With valuations still attractive and the overall macro environment still favorable, we feel that risk assets in the U.S. may be poised to perform well.
  • Additionally, we shifted some of the portfolio’s U.S. equity exposure to international equities. Even though U.S. equities are not technically expensive on a historic price-to-earnings basis, the domestic U.S. equity market is trading at a 12-13% premium to international market. We believe there is opportunity in international markets, specifically in Europe, as this premium falls closer to the 5% historical average.
Holding Assets
High Yield Fund 17.4%
Mid Cap Stock Fund 14.0%
Fundamental Equity Fund 13.5%
Growth Leaders Fund 10.7%
Convertible Fund 9.8%
Growth Opportunities Fund 9.2%
International Equity Fund 5.6%
International Value Fund 5.5%
Emerging Markets Bond Fund 5.2%
Inflation Focused Fund 4.8%
Ultra Short Bond Fund 3.9%
Holding Assets
EURO STOXX 50 JUN191.5%
MSCI EMGMKT JUN191.1%
US ULTRA BOND CBT JUN19-0.9%
MSCI EAFE JUN19-2.2%
NASDAQ 100 E-MINI JUN19-2.4%
Forward Volatility Agreement 1Y2Y5Y 3/5/20-3.0%
S&P500 EMINI FUT JUN19-3.0%
US 10YR NOTE (CBT)JUN19-3.1%

Equity Sector Allocation as of 04/30/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/17/2019
$0.051
Dividend Frequency
Monthly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
04/29/2019 04/30/2019 04/30/2019 $0.01020 $11.36
03/28/2019 03/29/2019 03/29/2019 $0.01980 $11.10
02/27/2019 02/28/2019 02/28/2019 $0.01530 $11.06
01/30/2019 01/31/2019 01/31/2019 $0.00650 $10.75

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
05/30/2019 05/31/2019 05/31/2019
06/17/2019 06/18/2019 06/18/2019
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 04/30/2019

1.23%

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
Capital Markets Presentation
Publish Date:11/03/2015
Brochure
Publish Date:11/03/2015

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Class R4 - The inception date for Class R4 shares is June 30, 2015. The performance quotations for Class R4 are based on the following methods of calculation: (a) for periods prior to June 30, 2015, a restated figure is used based on the historical performance of the Fund’s portfolio since inception to reflect all charges and fees applicable to Class R4 shares; and (b) for periods after June 30, 2015, actual Class R4 performance is used, which reflects all charges and fees applicable to Class R4 shares.

Class R4 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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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