multi-asset_balanced_opportunity_fund_summary

SUMMARY PROSPECTUS

Lord Abbett Multi-Asset Balanced Opportunity Fund

APRIL 1, 2025

CLASS/TICKER

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

LABFX

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

LABYX

CLASS R4 .......

BLASX

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

BFLAX

CLASS P .........

LABPX

CLASS R5 .......

BLATX

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

BLAFX

CLASS R2 .......

BLAQX

CLASS R6 .......

BLAVX

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

LOBFX

CLASS R3 .......

BLARX

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 – MULTI-ASSET BALANCED OPPORTUNITY FUND

INVESTMENT OBJECTIVE

The Fund’s investment objective is to seek current income and capital growth.

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, P, 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

0.10%

Distribution and Service (12b-1) Fees

0.25%

1.00%

0.10%

None

0.45%

Other Expenses

0.15%

0.07%

0.15%

Acquired Fund Fees and Expenses

(4)

0.73%

Total Annual Fund Operating Expenses

1.23%

1.98%

1.08%

0.90%

0.98%

1.43%

SUMMARY – MULTI-ASSET BALANCED OPPORTUNITY FUND

Annual Fund Operating Expenses

(continued)

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

Class

Management Fees

0.10%

Distribution and Service (12b-1) Fees

0.60%

0.50%

0.25%

None

Other Expenses

0.15%

0.07%

Acquired Fund Fees and Expenses

(4)

0.73%

Total Annual Fund Operating Expenses

1.58%

1.48%

1.23%

0.98%

0.90%

(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)

Includes interest expense from certain underlying affiliated funds of 0.16%. Excluding interest expense of the applicable

underlying affiliated funds, Total Annual Fund Operating Expenses are 1.07%, 1.82%, 0.92%, 0.74%, 0.82%, 1.27%,

1.42%, 1.32%, 1.07%, 0.82% and 0.74% for Class A, Class C, Class F, Class F3, Class I, Class P, Class R2, Class R3,

Class R4, Class R5 and Class R6, respectively.

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:

SUMMARY – MULTI-ASSET BALANCED OPPORTUNITY FUND

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

347

607

885

1,680

347

607

885

1,680

Class C Shares

301

621

1,068

2,113

201

621

1,068

2,113

Class F Shares

110

343

595

1,317

110

343

595

1,317

Class F3 Shares

287

498

1,108

287

498

1,108

Class I Shares

100

312

542

1,201

100

312

542

1,201

Class P Shares

146

452

782

1,713

146

452

782

1,713

Class R2 Shares

161

499

860

1,878

161

499

860

1,878

Class R3 Shares

151

468

808

1,768

151

468

808

1,768

Class R4 Shares

125

390

676

1,489

125

390

676

1,489

Class R5 Shares

100

312

542

1,201

100

312

542

1,201

Class R6 Shares

287

498

1,108

287

498

1,108

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 31% of the

average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Fund is a “fund-of-funds” that invests in affiliated investment companies (the

“underlying funds”) managed by Lord, Abbett & Co. LLC (“Lord Abbett”). Under

normal conditions, through the underlying funds, the Fund indirectly invests in U.S.

equity securities across all market capitalization ranges and all investment styles,

fixed income securities of various types, and select foreign (including emerging

market) securities. The Fund tactically allocates its assets among these asset classes

in response to market conditions or to seek to capitalize on investment opportunities.

The Fund uses a “blend” strategy to gain investment exposure to both growth and

value stocks, or to stocks with characteristics of both.

Equity securities in which an underlying fund may invest include common stocks,

preferred stocks, equity interests in trusts (including real estate investment trusts

(“REITs”) and privately offered trusts), partnerships, joint ventures, limited liability

companies and vehicles with similar legal structures, and other instruments with

similar characteristics.

Currently, the underlying funds invest in fixed income securities consisting

principally of high-yield debt securities, investment grade debt securities, mortgage-

related and other asset-backed securities, municipal bonds, U.S. Government

securities, convertible securities, bank loans, inflation-linked investments, and cash

equivalents. Certain of the underlying funds may invest up to 100% of their assets in