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Multi-Asset Global Opportunity Fund

Summary

Summary

What is the Multi-Asset Global Opportunity Fund?

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

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 TOTAL RETURN

Led by a senior Investment Committee, the Fund has delivered competitive performance relative to global multi-asset class peers. 

Yield

12-Month Dividend Yield 1 as of 05/20/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.52% 3.37%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 2.34% 2.20%

Fund Basicsas of 04/30/2019

Total Net Assets
$174.27 M
Inception Date
06/30/2015
Dividend Frequency
Quarterly
Fund Gross Expense Ratio
1.28%
Fund Net Expense Ratio
1.13%

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.06% 1.32% 6.39% 2.56% 8.11% -
Lipper Category Avg. Flexible Portfolio Funds 9.46% 2.44% 6.08% 3.51% 8.18% -
MSCI All Country World Index - Net 15.96% 5.06% 11.36% 6.96% 11.11% -

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 10.35% -1.28% 6.17% 2.24% 9.02% -
Lipper Category Avg. Flexible Portfolio Funds 7.65% 0.97% 5.96% 3.25% 8.72% -
MSCI All Country World Index - Net 12.17% 2.60% 10.67% 6.45% 11.98% -

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

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 05/20/2019  

  Subsidized3 Un-Subsidized4
w/o sales charge 3.52% 3.37%

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

  Subsidized5 Un-Subsidized6
w/o sales charge 2.34% 2.20%

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 13.06% 1.32% 6.39% 2.56% 8.11% -
Lipper Category Avg. Flexible Portfolio Funds 9.46% 2.44% 6.08% 3.51% 8.18% -
MSCI All Country World Index - Net 15.96% 5.06% 11.36% 6.96% 11.11% -

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception
w/o sales charge 10.35% -1.28% 6.17% 2.24% 9.02% -
Lipper Category Avg. Flexible Portfolio Funds 7.65% 0.97% 5.96% 3.25% 8.72% -
MSCI All Country World Index - Net 12.17% 2.60% 10.67% 6.45% 11.98% -

Fund Expense Ratio :

Gross 1.28%

Net 1.13%

Year Fund Returns MSCI All Country World Index - Net
2018 -11.37% -9.42%
2017 12.82% 23.97%
2016 9.28% 7.87%
2015 -7.23% -2.37%
2014 2.47% 4.17%
2013 14.85% 22.80%
2012 15.42% 16.13%
2011 -6.69% -7.34%
2010 11.69% 12.66%
2009 38.39% 34.63%
2008 -37.10% -
2007 12.25% -
2006 18.46% -
2005 8.64% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2019 10.35% - - - 9.95%
2018 -0.93% -1.32% 3.22% -12.17% -11.37%
2017 3.86% 2.13% 3.05% 3.21% 12.82%
2016 0.74% 1.78% 4.60% 1.90% 9.28%
2015 1.37% -0.42% -9.56% 1.62% -7.23%
2014 2.58% 4.58% -4.38% -0.11% 2.47%
2013 5.25% -1.72% 5.99% 4.75% 14.85%
2012 9.94% -5.13% 5.41% 4.97% 15.42%
2011 4.78% 0.98% -16.95% 6.19% -6.69%
2010 3.28% -10.31% 12.71% 6.99% 11.69%
2009 -7.58% 22.59% 17.96% 3.56% 38.39%
2008 -8.80% -2.51% -13.04% -18.66% -37.10%
2007 2.73% 6.72% 4.09% -1.63% 12.25%
2006 7.10% -2.21% 5.05% 7.66% 18.46%
2005 -1.62% -0.35% 6.33% 4.21% 8.64%

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
International Equity Fund 15.4%
International Value Fund 15.4%
High Yield Fund 14.6%
Mid Cap Stock Fund 13.1%
Growth Leaders Fund 8.6%
Emerging Markets Bond Fund 8.1%
Fundamental Equity Fund 7.7%
Growth Opportunities Fund 6.4%
Convertible Fund 4.5%
Inflation Focused Fund 3.2%
Ultra Short Bond Fund 2.7%
Holding Assets
EURO STOXX 50 JUN191.5%
MSCI EMGMKT JUN191.1%
MSCI EAFE JUN19-1.1%
US ULTRA BOND CBT JUN19-1.4%
NASDAQ 100 E-MINI JUN19-2.4%
S&P500 EMINI FUT JUN19-3.1%
Forward Volatility Agreement 1Y2Y5Y 3/5/20-3.1%
US 10YR NOTE (CBT)JUN19-4.8%

Equity Sector Allocation as of 04/30/2019

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

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 05/20/2019
$0.047
Dividend Frequency
Quarterly
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
03/28/2019 03/29/2019 03/29/2019 $0.04710 $11.01

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
06/17/2019 06/18/2019 06/18/2019
06/27/2019 06/28/2019 06/28/2019
09/26/2019 09/27/2019 09/27/2019
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
07/28/2016 07/29/2016 $0.1107 $0.0097 $0.1204 $10.60

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
06/17/2019 06/18/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 04/30/2019

Fund Gross Expense Ratio Fund Net Expense Ratio
1.28% 1.13%

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 R5 - The inception date for Class R5 shares is June 30, 2015. The performance quotations for Class R5 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 R5 shares; and (b) for periods after June 30, 2015, actual Class R5 performance is used, which reflects all charges and fees applicable to Class R5 shares.

Class R5 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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