LWSYX | Multi-Asset Growth Fund Class I | Lord Abbett

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(as of 12/05/2015)

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Multi-Asset Growth Fund

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What is the Multi-Asset Growth 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 along with select bonds.


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


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


Led by a senior Investment Committee, the Fund has delivered competitive performance relative to a broad universe of multi-asset class strategies.

Fund Basics

Total Net Assets
Inception Date
Dividend Frequency

Investment Team

Giulio Martini

Partner, Director of Strategic Asset Allocation

37 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Director of Taxable Fixed Income

31 Years of Industry Experience

Jeffrey Herzog
Jeffrey Herzog, Ph.D.

Portfolio Manager

13 Years of Industry Experience

David B. Ritt
David B. Ritt, CFA

Portfolio Manager

24 Years of Industry Experience

Supported By 9 Investment Professionals with 27 Years Avg. Industry Experience

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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.

Dividends & Cap Gains

Dividends & Cap Gains

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
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
Publish Date:11/03/2015

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Class I - SEC Returns reflect performance for Class I shares at Net Asset Value.

Except as noted below, returns with sales charges reflect a maximum sales charge of 2.50%. There are also ongoing 12b-1 service and 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 1.50% if the shares are repurchased 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.

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