Health Care Fund

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

$18.56

$0.31

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

-4.08%

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

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Summary

What is the Health Care Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of companies within the health care sector.

Fund Basicsas of 03/31/2025

Total Net Assets: $7.49 M
Inception Date: 08/01/2019
Dividend Frequency: Monthly (Daily Accrual)
Fund Gross Expense Ratio: 3.09%
Fund Net Expense Ratio: 0.78%
Number of Holdings: 66

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019
w/o sales charge	-3.98%	0.37%	3.36%	7.11%	-10000.0%	7.49%
Lipper Category Avg. Health/Biotechnology Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%
MSCI ACWI Health Care Index (Net)	3.14%	1.31%	3.41%	6.70%	-10000.0%	7.94%
w/ sales charge	-3.98%	0.37%	3.36%	7.11%	-10000.0%	7.49%

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

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019
w/o sales charge	-5.01%	-5.92%	0.24%	9.35%	-10000.0%	7.39%
Lipper Category Avg. Health/Biotechnology Funds	-1.51%	-6.79%	-0.25%	7.46%	-10000.0%	-10000.0%
MSCI ACWI Health Care Index (Net)	4.95%	-0.92%	2.34%	9.45%	-10000.0%	8.39%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

The performance quoted represents past performance, which is no indication 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. Therefore, there can be no assurance for future results.

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

INVESTMENT TEAM

Devesh Karandikar

Portfolio Manager & Research Analyst

30 Years of Industry Experience

Matthew R. DeCicco, CFA

Partner & Director of Equities

23 Years of Industry Experience

Heidi A. Lawrence

Portfolio Manager

24 Years of Industry Experience

Samantha E. Shevins

Senior Managing Director, Portfolio Manager

25 Years of Industry Experience

Supported By 19 Investment Professionals with 34 Years Avg. Industry Experience

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Performance

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019
w/o sales charge	-3.98%	0.37%	3.36%	7.11%	-10000.0%	7.49%
Lipper Category Avg. Health/Biotechnology Funds	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%	-10000.0%
MSCI ACWI Health Care Index (Net)	3.14%	1.31%	3.41%	6.70%	-10000.0%	7.94%
w/ sales charge	-3.98%	0.37%	3.36%	7.11%	-10000.0%	7.49%

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

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019

	YTD	1-YR	3-YR	5-YR	10-YR	Since Inception 07/31/2019
w/o sales charge	-5.01%	-5.92%	0.24%	9.35%	-10000.0%	7.39%
Lipper Category Avg. Health/Biotechnology Funds	-1.51%	-6.79%	-0.25%	7.46%	-10000.0%	-10000.0%
MSCI ACWI Health Care Index (Net)	4.95%	-0.92%	2.34%	9.45%	-10000.0%	8.39%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

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.

NAV Historical Prices

Date	Net Asset Value

Portfolio

Portfolio Details as of 03/31/2025

Total Net Assets: $7.49 M
Number of Holdings: 66
Weighted Average Market Cap.: 127.2 B
P/B Ratio: 6.5x
P/E Ratio: 44.2x

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

Holding	Sector	Assets

Holding	Sector	Assets
Eli Lilly & Co	Health Care	8.6%
Boston Scientific Corp	Health Care	4.8%
Intuitive Surgical Inc	Health Care	4.7%
Gilead Sciences Inc	Health Care	3.9%
Stryker Corp	Health Care	3.7%
Argenx SE	Health Care	3.5%
Natera Inc	Health Care	3.0%
Tarsus Pharmaceuticals Inc	Health Care	2.9%
Cencora Inc	Health Care	2.6%
UCB SA	Health Care	2.1%

% of Total Assets		39.8%

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
Eli Lilly & Co	Health Care	8.6%
Boston Scientific Corp	Health Care	4.8%
Intuitive Surgical Inc	Health Care	4.7%
Gilead Sciences Inc	Health Care	3.9%
Stryker Corp	Health Care	3.7%
Argenx SE	Health Care	3.5%
Natera Inc	Health Care	3.0%
Tarsus Pharmaceuticals Inc	Health Care	2.9%
Cencora Inc	Health Care	2.6%
UCB SA	Health Care	2.1%
Abbott Laboratories	Health Care	2.1%
UnitedHealth Group Inc	Health Care	2.0%
AstraZeneca PLC	Health Care	2.0%
Alcon AG	Health Care	1.8%
Pharma Mar SA	Health Care	1.7%
Doximity Inc	Health Care	1.7%
Lonza Group AG	Health Care	1.7%
Insulet Corp	Health Care	1.6%
ADMA Biologics Inc	Health Care	1.6%
Blueprint Medicines Corp	Health Care	1.5%
Terumo Corp	Health Care	1.5%
Guardant Health Inc	Health Care	1.4%
Insmed Inc	Health Care	1.4%
Arcellx Inc	Health Care	1.4%
Encompass Health Corp	Health Care	1.3%
Swedish Orphan Biovitrum AB	Health Care	1.3%
Glaukos Corp	Health Care	1.2%
Penumbra Inc	Health Care	1.2%
Galderma Group AG	Health Care	1.2%
Madrigal Pharmaceuticals Inc	Health Care	1.1%
Nuvalent Inc	Health Care	1.1%
Bridgebio Pharma Inc	Health Care	1.1%
Globus Medical Inc	Health Care	1.0%
Mirum Pharmaceuticals Inc	Health Care	1.0%
PROCEPT BioRobotics Corp	Health Care	1.0%
Veeva Systems Inc	Health Care	1.0%
Waystar Holding Corp	Health Care	1.0%
Ceribell Inc	Health Care	1.0%
Repligen Corp	Health Care	0.9%
Verona Pharma PLC	Health Care	0.9%
Zealand Pharma A/S	Health Care	0.9%
Novo Nordisk A/S	Health Care	0.9%
Scholar Rock Holding Corp	Health Care	0.8%
Xenon Pharmaceuticals Inc	Health Care	0.8%
CareDx Inc	Health Care	0.8%
SpringWorks Therapeutics Inc	Health Care	0.8%
Rhythm Pharmaceuticals Inc	Health Care	0.8%
Ascendis Pharma A/S	Health Care	0.8%
United Therapeutics Corp	Health Care	0.8%
Waters Corp	Health Care	0.7%
Masimo Corp	Health Care	0.7%
GE HealthCare Technologies Inc	Health Care	0.7%
Telix Pharmaceuticals Ltd	Health Care	0.7%
GeneDx Holdings Corp	Health Care	0.7%
Straumann Holding AG	Health Care	0.7%
Vericel Corp	Health Care	0.7%
Krystal Biotech Inc	Health Care	0.6%
Janux Therapeutics Inc	Health Care	0.6%
Revolution Medicines Inc	Health Care	0.6%
Teva Pharmaceutical Industries Ltd	Health Care	0.6%
Akero Therapeutics Inc	Health Care	0.6%
Veracyte Inc	Health Care	0.6%
Vera Therapeutics Inc	Health Care	0.6%
Evolus Inc	Health Care	0.5%
Artivion Inc	Health Care	0.4%
Twist Bioscience Corp	Health Care	0.4%

Fees & Expenses

Expense Ratioas of 03/31/2025

Fund Gross Expense Ratio	3.09%
Fund Net Expense Ratio	0.78%

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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Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus. There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").

Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

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. Because the Fund invests a significant portion of its assets in securities issued by health care-related companies, developments affecting the health care industry will likely have a disproportionate impact on the Fund. The Fund engages in active and frequent trading of its securities, which may result in increased transaction fees, reduced investment performance, and higher taxes. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance. The fund performance history at this time is very limited; therefore, performance achieved during its initial period of investment operation may not be replicated over longer periods and may not be indicative of how the Fund will perform in the future.

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.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

The MSCI ACWI Health Care Index includes large and mid cap securities across 23 Developed Markets (DM) and 26 Emerging Markets (EM) countries*. All securities in the index are classified in the Health Care as per the Global Industry Classification Standard

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.

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.

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 Health Care Fund?

The Fund seeks to deliver long-term growth of capital by investing primarily in stocks of companies within the health care sector.

Fund Basicsas of 03/31/2025

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

INVESTMENT TEAM

Contact a Representative

Performance

Performance

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

Fund Expense Ratio :

Gross 3.09%

Net 0.78%

NAV Historical Prices

Portfolio

Portfolio

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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