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.   

Effective November 29, 2013, the Lord Abbett Balanced Strategy Fund changed its name to Lord Abbett Multi-Asset Balanced Opportunity Fund.

Effective November 29, 2013, the Lord Abbett Global Allocation Fund changed its name to Lord Abbett Multi-Asset Global Opportunity Fund.

Effective November 29, 2013, the Lord Abbett Growth & Income Strategy Fund changed its name to Lord Abbett Multi-Asset Growth Fund.

Effective November 29, 2013, the Lord Abbett Diversified Income Strategy Fund changed its name to Lord Abbett Multi-Asset Income Fund.

Effective March 30, 2012, the Lord Abbett Mid Cap Value Fund changed its name to Lord Abbett Mid Cap Stock Fund.

The Fund transitioned its investment approach from investing in a mix of equity and fixed income securities to a domestic dividend oriented equity strategy. Therefore, the performance of the Fund for periods prior to September 27, 2012 is not representative of the Fund's current investment strategy. The change in investment approach may affect the Fund's performance.

A Note about Risk

Domestic Equity - The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. Investments in multinational companies generally pose greater risks than those of domestic companies, including market, liquidity, currency, and political risks. Select Funds invest primarily in small cap growth company stocks, which tend to be more volatile and can be less liquid than other types of stocks. Small cap companies may also have more limited product lines, markets, or financial resources and typically experience a higher risk of failure than large cap companies.

The Lord Abbett Dividend Growth Fund invests primarily in equity securities of large and mid-sized companies that have a history of increasing dividends and that have the potential for capital appreciation. Dividend paying securities may become less available for purchase, limiting the Fund's ability to produce current income and increasing the volatility of the Fund's returns. In addition, a company's dividend payments may vary over time, and there is no guarantee that a company will pay a dividend at all. The fund invests principally in stocks and other securities, which may experience significant volatility at times and may fall sharply in response to adverse events. Individual securities also may experience dramatic movements in price. In addition, if a fund's fundamental research and quantitative analysis fail to produce the intended result, the fund may suffer losses or underperform its benchmark or other funds with the same investment objective or strategies, even in a rising market. These factors can affect Fund performance.

International - Investing in international securities generally poses greater risk than investing in domestic securities, including greater price fluctuations and higher transaction costs. Special risks are inherent to international investing, including those related to currency fluctuations and foreign, political, and economic events. These risks can be greater in the case of emerging country securities.

Asset Allocation - Each Fund invests in underlying funds that may engage in a variety of investment strategies involving certain risks; this fund of funds may be subject to those particular risks of the underlying funds in proportion to which each Fund invests in them. Performance may be lower than the performance of the asset class that they were selected to represent.

Taxable Fixed-Income - The value of an investment in fixed-income securities will change as interest rates fluctuate and in response to market movements. As interest rates fall, the prices of debt securities tend to rise. As rates rise, prices tend to fall. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. Convertible securities have both equity and fixed-income risk characteristics. Like all fixed-income securities, the value of convertible securities is susceptible to the risk of market losses attributable to changes in interest rates. Generally, the market value of convertible securities tends to decline as interest rates increase and, conversely, to increase as interest rates decline.

Tax-Free Income - There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-free income. In addition, bonds may be subject to other types of risk such as call, credit, liquidity, interest-rate, and general market risks. The Lord Abbett AMT Free Municipal Bond Fund does not invest in any AMT triggering private activity bonds. Although the Fund seeks income that is federally tax-free, a portion of the fund's distribution may be subject to federal, state and local taxes. For all other Lord Abbett Tax Free Funds (Tax Free Funds) a portion of the income derived from the Tax Free Fund's portfolio may be subject to the alternative minimum tax and any capital gains realized may be subject to taxation, in addition, federal, state, and local taxes may apply.

These factors can affect fund performance.

Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.