Small Cap Value Fund

LRSVX

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Daily price w/o sales charge as of 03/22/2019

$20.27

$0.72

YTD Returns w/o sales charge as of 03/22/2019

9.86%

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Summary

What is the Small Cap Value Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of small U.S. companies.

Fund Basicsas of 02/28/2019

Total Net Assets: $868.55 M
Inception Date: 06/30/2015
Dividend Frequency: Annually
Fund Expense Ratio: 0.85%
Number of Holdings: 66
CUSIP: 543913644

Fund Expense Ratio :

0.85%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	15.07%	3.47%	11.71%	5.80%	14.49%	-
Lipper Category Avg. Small-Cap Core Funds	16.01%	3.32%	13.68%	6.38%	15.82%	-
Russell 2000® Value Index	15.25%	4.42%	14.95%	6.48%	15.43%	-

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.56%	-11.56%	4.49%	2.97%	10.57%	-
Lipper Category Avg. Small-Cap Core Funds	-12.67%	-12.67%	5.86%	3.41%	11.64%	-
Russell 2000® Value Index	-12.86%	-12.86%	7.37%	3.61%	10.40%	-

Fund Expense Ratio :

0.85%

Returns with sales charges reflect a maximum sales charge of 5.75%.

TEN LARGEST HOLDINGS as of 02/28/2019View Portfolio

Holding	Assets
Cott Corp.	3.0%
Conduent, Inc.	2.5%
First Industrial Realty Trust, Inc.	2.4%
First Merchants Corp.	2.4%
IDACORP, Inc.	2.3%
CenterState Banks, Inc.	2.3%
Gibraltar Industries, Inc.	2.2%
Littelfuse, Inc.	2.2%
Argo Group International Holdings Ltd.	2.1%
Charles River Laboratories International, Inc.	2.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 02/28/2019View Portfolio

Sector	Weighting

Sector	Weighting
Communication Services
Real Estate
Utilities
Consumer Discretionary
Consumer Staples
Energy
Financials
Health Care
Industrials
Information Technology
Materials

INVESTMENT TEAM

Eli Rabinowich

Portfolio Manager

15 Years of Industry Experience

John C. Hardy

Portfolio Manager

16 Years of Industry Experience

Supported By 38 Investment Professionals with 18 Years Avg. Industry Experience

Your Representative

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

Performance

Fund Expense Ratio :

0.85%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	15.07%	3.47%	11.71%	5.80%	14.49%	-
Lipper Category Avg. Small-Cap Core Funds	16.01%	3.32%	13.68%	6.38%	15.82%	-
Russell 2000® Value Index	15.25%	4.42%	14.95%	6.48%	15.43%	-

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception

w/o sales charge	-11.56%	-11.56%	4.49%	2.97%	10.57%	-
Lipper Category Avg. Small-Cap Core Funds	-12.67%	-12.67%	5.86%	3.41%	11.64%	-
Russell 2000® Value Index	-12.86%	-12.86%	7.37%	3.61%	10.40%	-

Fund Expense Ratio :

0.85%

Returns with sales charges reflect a maximum sales charge of 5.75%.

Year	Fund Returns	Russell 2000® Value Index

2018	-11.56%	-12.86%
2017	6.68%	7.84%
2016	20.91%	31.74%
2015	-0.79%	-7.47%
2014	2.31%	4.22%
2013	34.25%	34.52%
2012	11.03%	18.05%
2011	-4.25%	-5.50%
2010	26.77%	24.50%
2009	30.39%	20.58%
2008	-30.77%	-
2007	10.85%	-
2006	20.99%	-
2005	13.69%	-
2004	23.05%	-

Year	Q1	Q2	Q3	Q4	Yearly Returns

2019	-	-	-	-	9.86%
2018	-1.20%	6.88%	6.40%	-21.29%	-11.56%
2017	0.51%	-0.08%	2.11%	4.03%	6.68%
2016	1.27%	3.92%	6.14%	8.24%	20.91%
2015	4.74%	-0.20%	-8.96%	4.25%	-0.79%
2014	0.97%	2.58%	-7.40%	6.67%	2.31%
2013	13.76%	0.88%	6.64%	9.70%	34.25%
2012	12.36%	-8.91%	5.35%	2.97%	11.03%
2011	9.24%	-3.06%	-24.54%	19.82%	-4.25%
2010	10.03%	-10.65%	11.83%	15.31%	26.77%
2009	-12.05%	19.00%	17.11%	6.38%	30.39%
2008	-7.28%	2.19%	-3.81%	-24.04%	-30.77%
2007	2.41%	8.27%	2.44%	-2.40%	10.85%
2006	15.77%	-1.03%	-0.47%	6.10%	20.99%
2005	-1.38%	2.82%	10.60%	1.38%	13.69%
2004	-	-	-	11.76%	23.05%

NAV HISTORICAL PRICES

Date	Net Asset Value

Portfolio

Holding	Sector	Assets

Cott Corp.	Consumer Staples	3.0%
Conduent, Inc.	Information Technology	2.5%
First Industrial Realty Trust, Inc.	Real Estate	2.4%
First Merchants Corp.	Financials	2.4%
IDACORP, Inc.	Utilities	2.3%
CenterState Banks, Inc.	Financials	2.3%
Gibraltar Industries, Inc.	Industrials	2.2%
Littelfuse, Inc.	Information Technology	2.2%
Argo Group International Holdings Ltd.	Financials	2.1%
Charles River Laboratories International, Inc.	Health Care	2.0%

Holding	Sector	Assets

Cott Corp.	Consumer Staples	3.2%
IDACORP, Inc.	Utilities	3.0%
Booz Allen Hamilton Holding Corp.	Information Technology	2.8%
First Industrial Realty Trust, Inc.	Real Estate	2.5%
Charles River Laboratories International, Inc.	Health Care	2.3%
Conduent, Inc.	Information Technology	2.3%
CenterState Banks, Inc.	Financials	2.2%
First Merchants Corp.	Financials	2.2%
Valvoline, Inc.	Materials	2.1%
Argo Group International Holdings Ltd.	Financials	2.1%
Gibraltar Industries, Inc.	Industrials	2.0%
Littelfuse, Inc.	Information Technology	2.0%
Columbus McKinnon Corp.	Industrials	2.0%
Teledyne Technologies, Inc.	Industrials	2.0%
Sprouts Farmers Markets LLC	Consumer Staples	2.0%
INC Research Holdings, Inc.	Health Care	1.9%
Cambrex Corp	Health Care	1.9%
Hill-Rom Holdings, Inc.	Health Care	1.8%
Seacoast Banking Corp. of Florida	Financials	1.8%
Arcosa Inc	Industrials	1.8%
Reliance Steel & Aluminum Co.	Materials	1.7%
Federal Signal Corp.	Industrials	1.7%
Steve Madden Ltd.	Consumer Discretionary	1.7%
Crane Co.	Industrials	1.6%
Western Alliance Bancorp	Financials	1.6%
OM Asset Management plc	Financials	1.6%
FLIR Systems, Inc.	Information Technology	1.5%
Plantronics, Inc.	Information Technology	1.5%
Brooks Automation Inc	Information Technology	1.5%
Milacron Holdings Corp.	Industrials	1.5%
Oxford Industries, Inc.	Consumer Discretionary	1.5%
Dorman Products, Inc.	Consumer Discretionary	1.5%
Renasant Corp.	Financials	1.4%
PolyOne Corp.	Materials	1.4%
Neenah Paper, Inc.	Materials	1.4%
Altair Engineering Inc	Information Technology	1.4%
RenaissanceRe Holdings Ltd.	Financials	1.4%
Wolverine World Wide, Inc.	Consumer Discretionary	1.4%
Primoris Services Corp.	Industrials	1.3%
Wintrust Financial Corp.	Financials	1.3%
Churchill Downs, Inc.	Consumer Discretionary	1.3%
EMCOR Group, Inc.	Industrials	1.3%
Imax Corp.	Communication Services	1.3%
Entegris, Inc.	Information Technology	1.3%
Dunkin' Brands, Inc.	Consumer Discretionary	1.2%
Paylocity Holding Corp.	Information Technology	1.2%
Parsley Energy, Inc.	Energy	1.2%
Halyard Health, Inc.	Health Care	1.2%
Standard Parking Corp.	Industrials	1.1%
ICF International, Inc.	Industrials	1.1%
Centennial Resource Development, Inc.	Energy	1.1%
Marcus & Millichap, Inc.	Real Estate	1.1%
Denny's Corp.	Consumer Discretionary	1.1%
Steelcase, Inc.	Industrials	1.0%
LivaNova PLC	Health Care	1.0%
Belden, Inc.	Information Technology	0.9%
Pebblebrook Hotel Trust	Real Estate	0.9%
HealthSouth Corp.	Health Care	0.9%
Advanced Drainage Systems, Inc.	Industrials	0.9%
Codexis Inc	Health Care	0.7%
Berry Global Group, Inc.	Materials	0.7%
Dycom Industries, Inc.	Industrials	0.7%
Victory Capital Holdings Inc	Financials	0.5%
Advance Auto Parts, Inc.	Consumer Discretionary	0.5%
Drew Industries, Inc.	Consumer Discretionary	0.5%
Entercom Communications Corp	Consumer Discretionary	0.5%

Sector Allocationas of 02/28/2019

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.1%
Real Estate		0.8%
Utilities		0.2%
Consumer Discretionary		1.0%
Consumer Staples		0.4%
Energy		0.3%
Financials		1.0%
Health Care		0.7%
Industrials		0.8%
Information Technology		0.7%
Materials		0.9%

Portfolio Positioning as of 12/31/2018

The portfolio employs a fundamental, bottom-up individual stock selection strategy that leans towards quality companies with compelling valuation over a long term horizon.
The portfolio remains underweight in the real estate sector relative to its benchmark, the Russell 2000^® Index, partially due to the risk of rising interest rates, which could negatively affect income-oriented securities.
The portfolio is also underweight in the financials sector, which is partially due to the elimination of our portfolio’s position in Goosehead Insurance, a personal lines insurance agency services provider. We sold our position in the company due to the stock’s appreciation and relative valuation.
The portfolio is overweight in the industrials and the materials sectors relative to its benchmark. This is largely a function of bottom up views on individual stocks, some of which are new additions based on the recent pullback which was driven by concerns about escalating trade disputes and potential slowing global growth, amongst other factors.
While economic data and earnings results generally improved throughout 2018 in the U.S., we are mindful that potential changes in global policy could add to market volatility and negatively impact economic activity and risk assets. In this unsettled environment, we seek balance and continue to look for attractively valued companies with healthy medium to long term prospects.

PORTFOLIO DETAILS as of 02/28/2019

Total Net Assets: $868.55 M
Number of Holdings: 66
Weighted Average Market Cap.: 3.3 B
P/B Ratio: 2.3x
Portfolio Turnover Ratio as of 11/30/2018: 42.2%
P/E Ratio: 17.8x

To view definitions for the above Portfolio Details, Click here.

Weighted Average Market Cap - The average market capitalization of all companies held in the portfolio with each company weighted according to its percent held in the portfolio. The result is based upon a weighted average of the securities held in the fund.

P/B Ratio - A ratio that helps determine whether a stock is undervalued or overvalued. It is calculated by dividing a stock's price per share by its book value per share. The result is based upon a weighted average of the securities held in the fund.

P/E Ratio - Is the weighted average of each holding's P/E ratio (price of a stock divided by its earnings per share). The result is based upon a weighted average of the securities held in the fund.

Portfolio Turnover - This is a measure of the Fund’s trading activity which is computed by taking the lesser of purchases or sales divided by average monthly market value, excluding short-term investments. The resulting percentage represents the percentage of the portfolio’s holdings that have changed over the past year.

Contributors & Detractors as of 12/31/2018

Contributors

Holding	Contribution
Argo Group International Holdings Ltd.	0.1%
Denny's Corp.	0.1%
Arcosa Inc	0.0%
Dorman Products, Inc.	0.0%
New STERIS Ltd.	0.0%

Detractors

Holding	Contribution
Conduent, Inc.	-1.7%
Cambrex Corp.	-1.1%
Plantronics, Inc.	-0.9%
Centennial Resource Development, Inc.	-0.8%
Federal Signal Corp.	-0.8%

% Contribution reflects the effect of the individual stock's performance on the Fund's overall performance for the period. Individual holdings and their effect on Fund performance may change significantly over time. Investors should consider the overall performance of the Fund before making a decision on whether or not to invest in the Fund.

Attribution Analysis

for

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

The total base return displayed for the Fund does not capture daily cash flow and trading activity and therefore is subject to reasonable variance from the Fund's actual return. Please refer to Lord Abbett Growth Opportunities Fund Performance Results for the Fund's longer-term returns. The Fund is actively managed and portfolio characteristics, such as individual holdings and sector weightings, may change significantly over time.

Please see "About Wilshire Attribution" of the performance attribution displayed above by Click here.

About Wilshire Attribution

The Wilshire Atlas Variance Analysis tool provides a methodology for explaining the difference in performance between a portfolio and its benchmark, based on the decomposition of returns. The user specifies the portfolio, index, link frequency, sector and weighting. The weighting can be shown as beginning, average or end weights and is used for display purposes only.

Average Weight (Portfolio): This is the average weight of each group in the portfolio. Alternatively, the weight at the end of the reporting period, or on average across the reporting period, may be selected.

Base Return (Portfolio): This is the weighted average holding period return for the securities in each group. This weighted average is calculated for each link period using beginning weights and then the resulting values are linked together to calculate the displayed value.

Average Weight (Benchmark): This is the average weight of each group in the benchmark. Alternatively, the weight at the end of the reporting period, or on average across the reporting period, may be selected.

Base Return (Benchmark): This is the weighted average holding period return for the benchmark securities in each group. This weighted average is calculated for each link period using beginning weights, then the resulting values are linked together to calculate the displayed value.

Stock Selection Variance: This is the success of selection decisions within each group versus the benchmark. It is calculated for each link period using the following equation: Stock Selection Variance = WP,G * (RP,G - RB,G), where WP,G = Weight of the group in the portfolio, RP,G = Return of the group in the portfolio, RB,G = Return of the group in the benchmark.

Group Weighting Variance: This is the result of weighting decisions in each group versus the benchmark. It is calculated for each link period using the following equation: Group Weighting Variance = (WP,G – WB,G) * (RB,G – RB,T), where WP,G = Weight of the group in the portfolio, WB,G = Weight of the group in the benchmark, RB,G = Return of the group in the benchmark, RB,T = Overall return of the benchmark.

Total Variance: This is the sum of group weighting and stock selection variances. This represents the amount of total variance that is explained by the selection and allocation decisions for each group.

Wilshire generated returns are calculated gross of fees based on end of day prices and do not capture intraday cash flow, price changes or trading activity, and therefore are subject to some variance from Lord Abbett returns. In addition, Wilshire and Lord Abbett may use different pricing sources and methodologies.

Not Classified securities represent those securities which have not been assigned an official GICS Direct classification. GICS Direct, a joint product of Standard & Poor’s and MSCI, provides industry classifications for more than 40,000 companies and over 45,000 securities. Not Classified securities may include, but are not limited to: Exchange-Traded Funds (ETFs), pink sheet-listed issues, pre-IPO placements, private placements, secondary issues, open-end funds, closed-end funds, and non-operating establishments.

Under certain circumstances, Lord Abbett may elect to have Wilshire map an ETF holding to the relevant characteristics represented by that ETF’s underlying index in order to reflect the exposure and performance contributed by the ETF to the overall portfolio. When this option is selected, Wilshire will remove the ETF from the Not Classified category and instead allocate the ETF’s exposures across the relevant attributes based on the composition of the ETF’s underlying index.

Source: Wilshire Attribution Software. GICS sector classification; non-GICS securities classified by Lord Abbett. Sectors may include many industries.

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 03/22/2019: $0
Dividend Frequency: Annually

Record Date	Ex-Dividend Date	Reinvest & Payable Date	Dividend	Reinvest Price
12/14/2017	12/15/2017	12/15/2017	$0.02660	$24.17

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
12/17/2019	12/18/2019	12/18/2019

Capital Gains Distributions

For

Record Date	Reinvest & Payable Date	Long-term	Short-term *	Total	Reinvest Price
12/17/2018	12/18/2018	$2.8766	$0.1876	$3.0642	$18.81

Upcoming Capital Gain Distribution

Record Date	Ex-Dividend Date
12/17/2019	12/18/2019

Fees & Expenses

EXPENSE RATIOas of 02/28/2019

0.85%

Fund Documents

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

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IMPORTANT INFORMATION

A Note about Risk: The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies, including market, liquidity, currency, and political risks. Small cap company stocks tend to be more volatile and may be less liquid than large cap company stocks. Small cap companies also may have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies. Investments in value companies can continue to be undervalued for long periods of time and be more volatile than the stock market in general. These factors can adversely affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

Class R6 - The inception date for Class R6 shares is June 30, 2015. The performance quotations for Class R6 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 R6 shares; and (b) for periods after June 30, 2015, actual Class R6 performance is used, which reflects all charges and fees applicable to Class R6 shares.

Class R6 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

The Russell 2000® Value Index measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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Summary

Summary

What is the Small Cap Value Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of small U.S. companies.

Fund Basicsas of 02/28/2019

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

TEN LARGEST HOLDINGS as of 02/28/2019View Portfolio

Sector Allocationas of 02/28/2019View Portfolio

INVESTMENT TEAM

Your Representative

Performance

Performance

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

Fund Expense Ratio :

0.85%

NAV HISTORICAL PRICES

Portfolio

Portfolio

Sector Allocationas of 02/28/2019

Portfolio Positioning as of 12/31/2018

PORTFOLIO DETAILS as of 02/28/2019

Contributors & Detractors as of 12/31/2018

Contributors

Detractors

Attribution Analysis

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Upcoming Dividend Payment Dates

Capital Gains Distributions

Upcoming Capital Gain Distribution

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 02/28/2019

Fund Documents

Fund Documents

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