Focused Small Cap Value Fund

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Daily price w/o sales charge as of 05/02/2025

$26.47

$0.58

YTD Returns w/o sales charge as of 05/02/2025

-11.14%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

What is the Focused 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 03/31/2025

Total Net Assets: $87.31 M
Inception Date: 06/28/2019
Dividend Frequency: Annually
Fund Gross Expense Ratio: 1.06%
Fund Net Expense Ratio: 0.99%
Number of Holdings: 44

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999
w/o sales charge	-13.60%	-1.03%	1.96%	14.20%	7.30%	11.20%
Lipper Category Avg. Small-Cap Core Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%
Russell 2000® Value Index	-11.45%	-0.68%	1.38%	11.74%	5.87%	-10000.0%
w/ sales charge	-13.60%	-1.03%	1.96%	14.20%	7.30%	11.20%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999
w/o sales charge	-9.13%	-2.85%	0.78%	18.44%	7.41%	11.46%
Lipper Category Avg. Small-Cap Core Funds	-7.65%	-3.44%	1.90%	15.39%	6.56%	-10000.0%
Russell 2000® Value Index	-7.74%	-3.12%	0.05%	15.31%	6.07%	-10000.0%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Past performance is not a reliable indicator or guarantee of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost.

INVESTMENT TEAM

John C. Hardy

Senior Managing Director, Portfolio Manager

22 Years of Industry Experience

Qie Zhang, CFA

Portfolio Manager

22 Years of Industry Experience

Supported By 33 Investment Professionals with 21 Years Avg. Industry Experience

Your Representative

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

Performance

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999
w/o sales charge	-13.60%	-1.03%	1.96%	14.20%	7.30%	11.20%
Lipper Category Avg. Small-Cap Core Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%
Russell 2000® Value Index	-11.45%	-0.68%	1.38%	11.74%	5.87%	-10000.0%
w/ sales charge	-13.60%	-1.03%	1.96%	14.20%	7.30%	11.20%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/09/1999
w/o sales charge	-9.13%	-2.85%	0.78%	18.44%	7.41%	11.46%
Lipper Category Avg. Small-Cap Core Funds	-7.65%	-3.44%	1.90%	15.39%	6.56%	-10000.0%
Russell 2000® Value Index	-7.74%	-3.12%	0.05%	15.31%	6.07%	-10000.0%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Year	Fund Returns	Russell 2000® Value Index

Year	Fund Returns	Russell 2000® Value Index
2024	10.50%	8.05%
2023	13.93%	14.65%
2022	-15.03%	-14.48%
2021	27.55%	28.27%
2020	8.62%	4.63%
2019	20.81%	22.39%
2018	-9.24%	-12.86%
2017	7.60%	7.84%
2016	30.79%	31.74%
2015	2.14%	-7.47%
2014	-0.14%	-10000.0%
2013	38.27%	-10000.0%
2012	18.81%	-10000.0%
2011	-9.62%	-10000.0%
2010	27.98%	-10000.0%
2009	33.76%	-10000.0%

Year	Q1	Q2	Q3	Q4

Year	Q1	Q2	Q3	Q4
2025	-9.13%	-10000.0%	-10000.0%	-10000.0%
2024	3.35%	-1.76%	7.26%	1.46%
2023	2.42%	4.15%	-4.02%	11.28%
2022	-5.03%	-16.47%	-4.54%	12.21%
2021	19.34%	3.80%	-3.24%	6.42%
2020	-42.22%	34.40%	0.83%	38.71%
2019	11.58%	1.73%	-3.29%	10.05%
2018	0.44%	8.58%	1.80%	-18.25%
2017	-0.74%	1.69%	4.34%	2.15%
2016	1.05%	7.61%	6.89%	12.52%
2015	3.84%	-0.75%	-4.25%	3.51%
2014	0.77%	2.75%	-7.55%	4.31%
2013	10.59%	3.36%	7.42%	12.62%
2012	13.43%	-5.36%	6.44%	3.97%
2011	5.38%	-2.38%	-24.86%	16.92%
2010	9.04%	-6.13%	7.19%	16.65%
2009	-10000.0%	29.11%	14.63%	0.90%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV HISTORICAL PRICES

Date	Net Asset Value

Portfolio

Holding	Sector	Assets

Holding	Sector	Assets
White Mountains Insurance Group Ltd	Financials	3.5%
Prosperity Bancshares Inc	Financials	3.3%
Genpact Ltd	Industrials	3.3%
Worthington Enterprises Inc	Industrials	3.0%
MEG Energy Corp	Energy	3.0%
Vishay Precision Group Inc	Information Technology	2.9%
Belden Inc	Information Technology	2.9%
YETI Holdings Inc	Consumer Discretionary	2.7%
Silicon Motion Technology Corp	Information Technology	2.7%
IDACORP Inc	Utilities	2.6%

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.

Holding	Sector	Assets

Holding	Sector	Assets
White Mountains Insurance Group Ltd	Financials	3.5%
Prosperity Bancshares Inc	Financials	3.3%
Genpact Ltd	Industrials	3.3%
Worthington Enterprises Inc	Industrials	3.0%
MEG Energy Corp	Energy	3.0%
Vishay Precision Group Inc	Information Technology	2.9%
Belden Inc	Information Technology	2.9%
YETI Holdings Inc	Consumer Discretionary	2.7%
Silicon Motion Technology Corp	Information Technology	2.7%
IDACORP Inc	Utilities	2.6%
First BanCorp/Puerto Rico	Financials	2.6%
Simply Good Foods Co/The	Consumer Staples	2.5%
Bancorp Inc/The	Financials	2.5%
Brunswick Corp/DE	Consumer Discretionary	2.5%
Element Solutions Inc	Materials	2.5%
MRC Global Inc	Industrials	2.5%
Integra LifeSciences Holdings Corp	Health Care	2.5%
Advanced Energy Industries Inc	Information Technology	2.5%
Wintrust Financial Corp	Financials	2.4%
Brady Corp	Industrials	2.4%
Criteo SA	Communication Services	2.4%
Compass Diversified Holdings	Financials	2.4%
Kemper Corp	Financials	2.3%
Cushman & Wakefield PLC	Real Estate	2.3%
Axos Financial Inc	Financials	2.3%
Radiant Logistics Inc	Industrials	2.2%
Bridge Investment Group Holdings Inc	Financials	2.2%
Avient Corp	Materials	2.1%
Integer Holdings Corp	Health Care	2.1%
Acushnet Holdings Corp	Consumer Discretionary	2.1%
Azenta Inc	Health Care	2.0%
Gulfport Energy Corp	Energy	1.9%
Northern Oil & Gas Inc	Energy	1.9%
Mirion Technologies Inc	Information Technology	1.8%
Vestis Corp	Industrials	1.8%
Arcosa Inc	Industrials	1.7%
GMS Inc	Industrials	1.6%
Marcus & Millichap Inc	Real Estate	1.6%
Leonardo DRS Inc	Industrials	1.6%
Moelis & Co	Financials	1.5%
Addus HomeCare Corp	Health Care	1.3%
Bowhead Specialty Holdings Inc	Financials	1.2%
Griffon Corp	Industrials	1.1%
Quaker Chemical Corp	Materials	0.4%

Sector Allocationas of 03/31/2025

Sector	Weighting	Fund Change from Previous Quarter

Sector	Weighting	Fund Change from Previous Quarter
Communication Services		0.2%
Real Estate		1.0%
Utilities		2.6%
Consumer Discretionary		1.0%
Consumer Staples		1.0%
Energy		1.0%
Financials		0.8%
Health Care		1.4%
Industrials		4.5%
Information Technology		1.5%
Materials		0.9%

PORTFOLIO DETAILS as of 03/31/2025

Total Net Assets: $87.31 M
Number of Holdings: 44
Weighted Average Market Cap.: 3.5 B
P/B Ratio: 1.8x
P/E Ratio: 18.4x

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

Market Capitalization Breakdown - Morningstar separates stock portfolio holdings into five market-capitalization groups: Giant, Large, Mid, Small, and Micro. Of the 5000 largest domestic stocks in their equities database, the top 1% are categorized as Giant, the next 4% are Large, the next 15% are Mid, the next 30% are Small, and the remaining 50% are Micro. Stocks outside of the largest 5000 are also classified as Micro.

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.

Fees & Expenses

EXPENSE RATIOas of 03/31/2025

Fund Gross Expense Ratio	1.06%
Fund Net Expense Ratio	0.99%

Expense ratio details, Click here.

Fund Documents

0Documents selected
Portfolio Holdings 1Q Publish Date:11/03/2015
Portfolio Holdings 3Q Publish Date:11/03/2015
Summary Prospectus Publish Date:11/03/2015
Statutory Prospectus Publish Date:11/03/2015
SAI Publish Date:11/03/2015
Annual Financial Statements and Other Information * Publish Date:11/03/2015
Annual Tailored Shareholder Report Publish Date:11/03/2015
Semi-Annual Financial Statements and Other Information * Publish Date:11/03/2015
Fact Sheet Publish Date:11/03/2015

* includes items 7-11 of form N-CSR as required, if any.

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.

12-Month Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to its value with maximum sales charges and without sales charges. The fund’s dividend yield is calculated by dividing the fund’s income distributions over the previous year by the fund’s current value with maximum sales charges and without sales charges.

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

The Fund’s Unsubsidized Dividend yield is shown without sales charges and with maximum sales charges. The Fund’s unsubsidized dividend yield reflects what the yield would have been without the effect of fee waivers or expense limitation arrangements.

IMPORTANT INFORMATION

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.

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.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

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.

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

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.

About Barron's Best Fund Families
Source: Barron's, "Best Fund Families of 2024." February 27, 2025. Used with permission. ©2025 Dow Jones & Company, Inc.

The 2024 Barron’s Best Fund Families List ranks the active management ability of qualifying companies. Rankings are based on the asset-weighted one-year returns as of 12/31/24, excluding 12b-1 fees and sales loads, of a company’s actively managed fund line up in five asset class categories: US Equity, World Equity, Mixed Asset, Taxable Bond, and Tax-Exempt Bond as determined by Barron’s. Overall ranking based on aggregate, weighted score across the five asset categories. Performance data from Refinitiv Lipper.

Past performance does not guarantee future results. Lord Abbett ranked overall #1 of 48, #6 of 46, and #23 of 46 for the 1- ,5-, and 10-year periods respectively. Lord Abbett ranked #1 of 48 in US Equity, #2 of 48 in Mixed Asset, #2 of 48 in Taxable Bond, and #5 of 48 in Tax-Exempt Bond.

How We Ranked the Fund Families
In ranking mutual and exchange-traded funds, our aim is to measure manager skill, independent of expenses beyond annual management fees. That is why we calculate returns before any 12b-1 fees are deducted. Similarly, fund loads, or sales charges, aren’t included in our calculation of returns.

Each fund’s performance is measured against all of the other funds in its LSEG Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall ranking, and vice versa.

To be included in the ranking, a firm must have at least three funds in the general equity category, one in world equity, one in mixed equity such as a balanced or target-date fund, two taxable bond funds, and one national tax-exempt bond fund.

Single-sector and country equity funds are factored into the rankings as general equity. We exclude all index funds, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

Finally, the score is multiplied by the weighting of its general classification, as determined by the Lipper universe of funds. The category weightings for 2024 were general equity, 39.1%; mixed asset, 21.6%; world equity, 15.3%; taxable bond,20.1%; and tax-exempt bond, 3.9%.

The category weightings for the five-year results were general equity, 39%; mixed asset, 21.7%; world equity, 15.3%; taxable bond, 19.9%; and tax-exempt bond, 4%.For the 10-year list, they were general equity, 40%; mixed asset, 22.1%; world equity, 14.8%; taxable bond, 19.2%; and tax[1]exempt bond, 3.9%. The weightings may not total 100 due to rounding.

How the scoring works: Say a fund in the general U.S. equity category has $500million in assets, accounting for half of the firm’s assets in that category, and its performance lands it in the 75th percentile for the category. The first calculation would be 75 times 0.5, which comes to 37.5. That score is then multiplied by 39.1%, general equity’s overall weighting in Lipper’s universe. So, it would be 37.5 times0.391, which equals 14.66. Similar calculations are done for each fund in our study; then the numbers are added for each category and overall. The shop with the highest total score wins. The same process is repeated to determine the five- and 10-year rankings.

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Summary

Summary

What is the Focused 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 03/31/2025

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

INVESTMENT TEAM

Your Representative

Performance

Performance

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

Fund Expense Ratio :

Gross 1.06%

Net 0.99%

NAV HISTORICAL PRICES

Portfolio

Portfolio

Sector Allocationas of 03/31/2025

PORTFOLIO DETAILS as of 03/31/2025

Fees & Expenses

Fees & Expenses

EXPENSE RATIOas of 03/31/2025

Fund Documents

Fund Documents

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