inflation_focused_fund_summary

SUMMARY PROSPECTUS

Lord Abbett Inflation Focused Fund

APRIL 1, 2025

CLASS/TICKER

CLASS A ............

LIFAX

CLASS I...........

LIFIX

CLASS R5 .......

LIFTX

CLASS C............

LIFCX

CLASS R2 .......

LIFQX

CLASS R6 .......

LIFVX

CLASS F ............

LIFFX

CLASS R3 .......

LIFRX

CLASS F3 ..........

LIFOX

CLASS R4 .......

LIFKX

Before you invest, you may want to review the Fund’s prospectus and statement of additional

information, which contain more information about the Fund and its risks. You can find the

Fund’s prospectus, statement of additional information and other information about the Fund at

www.lordabbett.com/documentsandliterature. You can also get this information at no cost by

calling 888-522-2388 (Option #2) or by sending an email request to literature@lordabbett.com.

The current prospectus and statement of additional information dated April 1, 2025 as may be

supplemented from time to time, are incorporated by reference into this summary prospectus.

SUMMARY – INFLATION FOCUSED FUND

INVESTMENT OBJECTIVE

The Fund’s primary investment objective is to provide investment returns that

exceed the rate of inflation in the U.S. economy over a full economic cycle. As a

secondary objective, the Fund seeks current income.

FEES AND EXPENSES

This table describes the fees and expenses that you may pay if you buy, hold, and

sell shares of the Fund.

You may pay other fees, such as brokerage commissions

and other fees to financial intermediaries, which are not reflected in the tables

and examples below.

You may qualify for sales charge discounts if you and certain

members of your family invest, or agree to invest in the future, at least $100,000 in

the Lord Abbett Family of Funds. More information about these and other discounts

is available from your financial intermediary and in “Sales Charge Reductions and

Waivers” on page 291 of the prospectus, Appendix A to the prospectus, titled

“Intermediary-Specific Sales Charge Reductions and Waivers,” and “Purchases,

Redemptions, Pricing, and Payments to Dealers” on page 9-1 of Part II of the

statement of additional information (“SAI”).

Shareholder Fees

(1)

(Fees paid directly from your investment)

Class

F, F3, I, R2, R3, R4, R5, and R6

Maximum Sales Charge (Load) Imposed on Purchases

(as a percentage of offering price)

2.25%

None

Maximum Deferred Sales Charge (Load)

(as a percentage of offering price or redemption

proceeds, whichever is lower)

None

(2)

1.00%

(3)

None

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)

Class

Management Fees

0.30%

Distribution and Service (12b-1) Fees

0.20%

0.81%

(4)

0.10%

None

Other Expenses

0.29%

0.22%

0.29%

Total Annual Fund Operating Expenses

0.79%

1.40%

0.69%

0.52%

0.59%

SUMMARY – INFLATION FOCUSED FUND

Annual Fund Operating Expenses

(continued)

(Expenses that you pay each year as a percentage of the value of your investment)

Class

Management Fees

0.30%

Distribution and Service (12b-1) Fees

0.60%

0.50%

0.25%

None

Other Expenses

0.29%

0.22%

Total Annual Fund Operating Expenses

1.19%

1.09%

0.84%

0.59%

0.52%

(1)

A shareholder transacting in share classes without a front-end sales charge may be required to pay a commission to its

financial intermediary. Please contact your financial intermediary for more information about whether such a commission

may apply to your transaction.

(2)

A contingent deferred sales charge (“CDSC”) of 1.00% may be assessed on certain Class A shares purchased or

acquired without a sales charge if they are redeemed before the first day of the month in which the one-year anniversary

of the purchase falls.

(3)

A CDSC of 1.00% may be assessed on Class C shares if they are redeemed before the first anniversary of their

purchase.

(4)

The 12b-1 fee the Fund will pay on Class C shares will be a blended rate calculated based on (i) 1.00% of the Fund’s

average daily net assets attributable to shares held for less than one year and (ii) 0.80% of the Fund’s average daily net

assets attributable to shares held for one year or more. All Class C shareholders of the Fund will bear 12b-1 fees at the

same rate.

Example

This Example is intended to help you compare the cost of investing in the Fund with

the cost of investing in other mutual funds. The Example assumes that you invest

$10,000 in the Fund for the time periods indicated and then redeem all of your shares

at the end of those periods. The Example also assumes that your investment has a

5% return each year and that the Fund’s operating expenses remain the same. Class

C shares automatically convert to Class A shares after eight years. The expense

example for Class C shares for the ten-year period reflects the conversion to Class A

shares. Although your actual costs may be higher or lower, based on these

assumptions your costs would be:

Class

If Shares Are Redeemed

If Shares Are Not Redeemed

1 Year

3 Years

5 Years

10 Years

1 Year

3 Years

5 Years

10 Years

Class A Shares

304

472

654

1,181

304

472

654

1,181

Class C Shares

243

443

766

1,513

143

443

766

1,513

Class F Shares

221

384

859

221

384

859

Class F3 Shares

167

291

653

167

291

653

Class I Shares

189

329

738

189

329

738

Class R2 Shares

121

378

654

1,443

121

378

654

1,443

Class R3 Shares

111

347

601

1,329

111

347

601

1,329

Class R4 Shares

268

466

1,037

268

466

1,037

Class R5 Shares

189

329

738

189

329

738

Class R6 Shares

167

291

653

167

291

653

SUMMARY – INFLATION FOCUSED FUND

Portfolio Turnover.

The Fund pays transaction costs, such as commissions, when it

buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover

rate may indicate higher transaction costs and may result in higher taxes when Fund

shares are held in a taxable account. These costs, which are not reflected in the

annual fund operating expenses or in the example, affect the Fund’s performance.

During the most recent fiscal year, the Fund’s portfolio turnover rate was 78% of the

average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

For purposes of its investment objective, the Fund uses the Consumer Price Index

(“CPI”) for All Urban Consumers (“CPI-U”) to measure the rate of inflation in the

U.S. economy. The Fund pursues its investment objective by combining inflation-

linked derivatives and inflation-indexed fixed income securities (collectively,

“Inflation-Linked Investments”) with a portfolio of fixed income securities. In

addition, the Fund may buy or sell Treasury futures or interest rate swaps to actively

manage its portfolio duration. The use of the term “Inflation Focused” in the Fund’s

name does not refer to a particular type of security in which the Fund invests; rather,

it refers to its overall strategy that seeks investment returns that exceed the rate of

inflation in the U.S. economy over time. In the Fund’s view, exceeding the rate of

inflation in the U.S. economy could mean achieving greater gains than the CPI-U

during periods of anticipated or actual inflation or sustaining smaller losses than the

CPI-U during periods of anticipated or actual deflation.

The percentage of the Fund’s assets that is invested in Inflation-Linked Investments

and the types of Inflation-Linked Investments used by the Fund will vary. The Fund

does not seek to forecast inflationary trends, but merely seeks investment exposure

through Inflation-Linked Investments. Because the Fund uses Inflation-Linked

Investments as a tool to gain investment exposure, the Fund is designed for long-

term investors and may not be appropriate for investors who are looking to protect

their purchasing power in the near term.

The specific types of Inflation-Linked Investments that the Fund may use include:

•

Inflation-Linked Derivatives:

The Fund may invest substantially in inflation-

linked derivatives, primarily CPI swaps. A CPI swap is a contract in which one

party agrees to pay a fixed rate in exchange for a variable rate, which is the rate

of change in the CPI during the life of the contract. Payments are based on a

specified notional amount of principal. The Fund normally may enter into CPI

swaps on a zero-coupon basis, meaning that the floating rate will be based on

the cumulative CPI during the life of the contract, and the fixed rate will

compound until the swap’s maturity date, at which point the payments are

netted. Conversely, the Fund may enter into CPI swaps on a year-over-year

basis, in which one party pays an annual fixed rate on a specified notional

amount at specified intervals (

i.e.

, monthly, annually, etc.), while the other party

pays the annual year-over-year inflation rate at specified intervals.