focused_growth_fund_summary

SUMMARY PROSPECTUS

Lord Abbett Focused Growth Fund

MARCH 1, 2025

CLASS/TICKER

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

LFGAX

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

LFGIX

CLASS R5 .......

LFGTX

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

LFGCX

CLASS R2 .......

N/A

CLASS R6 .......

LFGVX

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

LFGFX

CLASS R3 .......

LFGQX

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

LFGOX

CLASS R4 .......

LFGSX

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 March 1, 2025 as may be

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

SUMMARY – Focused Growth Fund

INVESTMENT OBJECTIVE

The Fund’s investment objective is to seek capital appreciation.

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 $50,000 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 231 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)

5.75%

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

0.65%

Distribution and Service (12b-1) Fees

0.25%

1.00%

0.10%

None

Other Expenses

0.55%

0.45%

0.55%

Total Annual Fund Operating Expenses

1.45%

2.20%

1.30%

1.10%

(4)

1.20%

(4)

Fee Waiver and/or Expense Reimbursement

(5)

(0.40)%

(0.50)%

(6)

(0.40)%

Total Annual Fund Operating Expenses After Fee Waiver

and/or Expense Reimbursement

(5)

1.05%

1.80%

0.80%

0.70%

(4)

0.80%

SUMMARY – Focused Growth Fund

Annual Fund Operating Expenses

(continued)

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

Class

Management Fees

0.65%

Distribution and Service (12b-1) Fees

0.60%

0.50%

0.25%

None

Other Expenses

0.55%

0.45%

Total Annual Fund Operating Expenses

1.80%

1.70%

1.45%

1.20%

1.10%

Fee Waiver and/or Expense Reimbursement

(5)

(0.40)%

Total Annual Fund Operating Expenses After Fee Waiver and/or

Expense Reimbursement

(5)

1.40%

1.30%

1.05%

0.80%

0.70%

(4)

(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)

These amounts have been updated from fiscal year amounts to reflect current fees and expenses.

(5)

For the period from March 1, 2025 through February 28, 2026, Lord, Abbett & Co. LLC (“Lord Abbett”) has contractually

agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses,

excluding any applicable 12b-1 fees, acquired fund fees and expenses, interest-related expenses, taxes, expenses

related to litigation and potential litigation, and extraordinary expenses, to an annual rate of 0.70% for each of Class F3

and R6 shares and to an annual rate of 0.80% for each other class. This agreement may be terminated only by the

Fund’s Board of Trustees.

(6)

For the period from March 1, 2025 through February 28, 2026, Lord Abbett Distributor LLC (“Lord Abbett Distributor”) has

contractually agreed to waive the Fund’s 0.10% Rule 12b-1 fee for Class F shares. This agreement may be terminated

only by the Fund’s Board of Trustees.

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, giving

effect to the fee waiver and expense reimbursement arrangement described above.

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 – Focused Growth 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

676

970

1,286

2,178

676

970

1,286

2,178

Class C Shares

283

650

1,143

2,312

183

650

1,143

2,312

Class F Shares

363

665

1,524

363

665

1,524

Class F3 Shares

310

567

1,304

310

567

1,304

Class I Shares

341

621

1,419

341

621

1,419

Class R2 Shares

143

528

938

2,083

143

528

938

2,083

Class R3 Shares

132

497

885

1,975

132

497

885

1,975

Class R4 Shares

107

419

754

1,701

107

419

754

1,701

Class R5 Shares

341

621

1,419

341

621

1,419

Class R6 Shares

310

567

1,304

310

567

1,304

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 122% of

the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

The Fund invests in equity securities of companies that the portfolio management

team believes demonstrate above-average, long-term growth potential in all market

capitalization ranges. Under normal conditions, the Fund invests at least 50% of its

net assets in companies having a market capitalization at the time of purchase that

falls within the market capitalization range of companies in the Russell 1000

Index.

Equity securities in which the Fund may invest include common stocks, preferred

stocks, equity interests in trusts (including real estate investment trusts and privately

offered trusts), partnerships, joint ventures, limited liability companies and vehicles

with similar legal structures, other instruments convertible or exercisable into the

foregoing, and other investments with similar economic characteristics.

The Fund may invest up to 20% of its net assets in securities of foreign companies,

including emerging market companies, American Depositary Receipts (“ADRs”),

Global Depositary Receipt (“GDRs”), and other similar depositary receipts. In

addition to ADRs, the Fund generally defines foreign companies as those whose

securities are traded primarily on non-U.S. securities exchanges. The Fund considers

emerging market countries to include countries that are not currently classified as a

developed market by Morgan Stanley Capital International (“MSCI”).

The Fund engages in active and frequent trading of its portfolio securities.

The Fund utilizes a focused investment strategy and is non-diversified under the

Investment Company Act of 1940, as amended (the “1940 Act”), and may invest a

SUMMARY – Focused Growth Fund

greater portion of its assets in the securities of a single issuer or in the securities of

fewer issuers than a diversified mutual fund.

The investment team may also consider the risks and return potential presented by

environmental, social, and governance (“ESG”) factors in investment decisions. The

Fund may sell a security when the Fund believes the security is less likely to benefit

from the current market and economic environment, or shows signs of deteriorating

fundamentals, among other reasons. The Fund may deviate from the investment

strategy described above for temporary defensive purposes. The Fund may miss

certain investment opportunities if defensive strategies are used and thus may not

achieve its investment objective.

PRINCIPAL RISKS

As with any investment in a mutual fund, investing in the Fund involves risk,

including the risk that you may receive little or no return on your investment. When

you redeem your shares, they may be worth more or less than what you paid for

them, which means that you may lose a portion or all of the money you invested in

the Fund. The principal risks of investing in the Fund, which could adversely affect

its performance, include:

•

Portfolio Management Risk:

If the strategies used and investments selected by

the Fund’s portfolio management team fail to produce the intended result, the

Fund may suffer losses or underperform other funds with the same investment

objective or strategies, even in a favorable market.

•

Market Risk:

The market values of securities will fluctuate, sometimes sharply

and unpredictably, based on overall economic conditions, governmental actions

or intervention, market disruptions caused by trade disputes or other factors,

political developments, and other factors. Prices of equity securities tend to rise

and fall more dramatically than those of debt securities.

•

Equity Securities Risk:

Equity securities, as well as equity-like securities such

as convertible debt securities, may experience significant volatility. Such

securities may fall sharply in response to adverse events affecting overall

markets, a particular industry or sector, or an individual company’s financial

condition.

•

Industry and Sector Risk:

Although the Fund does not employ an industry or

sector focus, its exposure to specific industries or sectors will increase from time

to time based on the portfolio management team’s perception of investment

opportunities. If the Fund is overweight in a single industry or sector relative to

its benchmark index, the Fund will face an increased risk that the value of its

portfolio will decrease because of events disproportionately affecting that

industry or sector. Furthermore, investments in particular industries or sectors

may be more volatile than the broader market as a whole.

•

Focused Investing Risk:

To the extent that the Fund invests its assets in the

securities of a small number of issuers, the Fund will be subject to greater

SUMMARY – Focused Growth Fund

volatility with respect to its investments than a fund that invests in the securities

of a larger number of issuers.

•

Growth Investing Risk:

Growth stocks typically trade at higher multiples of

current earnings as compared to other stocks, which may lead to inflated prices.

Growth stocks often are more sensitive to market fluctuations than other

securities because their market prices are highly sensitive to future earnings

expectations. At times when it appears that these expectations may not be met,

prices of growth stocks typically fall. Growth stocks may be more volatile than

securities of slower-growing issuers.

•

Large Company Risk:

Larger, more established companies may be less able to

respond quickly to certain market developments. In addition, larger companies

may have slower rates of growth as compared to successful, but less well-

established, smaller companies.

•

Mid-Sized and Small Company Risk:

Investments in mid-sized and small

companies may involve greater risks than investments in larger, more

established companies. Securities of mid-sized and small companies tend to be

more sensitive to changing economic, market, and industry conditions and tend

to be more volatile and less liquid than equity securities of larger companies,

especially over the short term. The securities of mid-sized and small companies

tend to trade less frequently than those of larger, more established companies,

which can adversely affect the pricing of these securities and the ability to sell

these securities in the future.

•

Foreign and Emerging Market Company Risk:

Investments in foreign

companies and in U.S. companies with economic ties to foreign markets

generally involve special risks. These companies may be more vulnerable to

economic, political, and social instability and subject to less government

supervision, lack of transparency, inadequate regulatory and accounting

standards, and foreign taxes. Foreign company securities also include ADRs,

which may be less liquid than the underlying shares in their primary trading

market. Foreign securities also may subject the Fund’s investments to changes

in currency exchange rates. Emerging market securities generally are more

volatile than other foreign securities, and are subject to greater liquidity,

regulatory, and political risks. Investments in emerging markets may be

considered speculative and generally are riskier than investments in more

developed markets. Emerging markets are more likely to experience

hyperinflation and currency devaluations. Securities of emerging market

companies may have far lower trading volumes and less liquidity than securities

of issuers in developed markets. In certain emerging market countries,

governments participate to a significant degree in their respective economies.

Action by these governments could have a significant adverse effect on market

prices of securities and payment of dividends. Companies with economic ties to

emerging markets may be susceptible to the same risks as companies organized

in emerging markets.

SUMMARY – Focused Growth Fund

•

Non-Diversification Risk:

The Fund is a non-diversified mutual fund under the

1940 Act. This means that the Fund may invest a greater portion of its assets in,

and own a greater amount of the voting securities of, a single issuer or guarantor

than a diversified fund. As a result, the value of the Fund’s investments may be

more adversely affected by a single economic, political or regulatory event than

the value of the investments of a diversified mutual fund.

•

Liquidity/Redemption Risk:

The Fund may lose money when selling securities

at inopportune times to fulfill shareholder redemption requests. The risk of loss

may increase depending on the size and frequency of redemption requests,

whether the redemption requests occur in times of overall market turmoil or

declining prices, and whether the securities the Fund intends to sell have

decreased in value or are illiquid. The Fund may be less able to sell illiquid

securities at its desired time or price. It may be more difficult for the Fund to

value its investments in illiquid securities than more liquid securities.

•

High Portfolio Turnover Risk:

High portfolio turnover may result in increased

transaction costs, reduced investment performance, and higher taxes resulting

from increased realized capital gains, including short-term capital gains taxable

as ordinary income when distributed to shareholders.

An investment in the Fund is not a deposit of any bank and is not insured or

guaranteed by the Federal Deposit Insurance Corporation or any other government

agency. For more information on the principal risks of the Fund, please see the

“More Information About the Funds – Principal Risks” section in the prospectus.

PERFORMANCE

The bar chart and table below provide some indication of the risks of investing in the

Fund by illustrating the variability of the Fund’s returns. Each assumes reinvestment

of dividends and distributions. The Fund’s past performance, before and after taxes,

is not necessarily an indication of how the Fund will perform in the future. No

performance is shown for Class R2 shares because the Fund has no Class R2 shares

outstanding.

The bar chart shows changes in the performance of the Fund’s Class A shares from

calendar year to calendar year. This chart does not reflect the sales charge applicable

to Class A shares. If the sales charge were reflected, returns would be lower.

Performance for the Fund’s other share classes will vary due to the different

expenses each class bears. Updated performance information is available at

www.lordabbett.com or by calling 888-522-2388.

SUMMARY – Focused Growth Fund

Bar Chart (per calendar year) - Class A Shares

Best

Quarter

2nd

2020

+41.99%

Worst

Quarter

2nd

2022

-24.49%

The table below shows how the Fund’s average annual total returns compare to the

returns of a securities market index with investment characteristics similar to those

of the Fund as well as to a broad-based securities market index.

The Fund’s average

annual total returns include applicable sales charges.

The after-tax returns of Class A shares included in the table below are calculated

using the historical highest individual federal marginal income tax rates and do not

reflect the impact of state and local taxes. In some cases, the return after taxes on

distributions and sale of Fund shares may exceed the return before taxes due to a tax

benefit resulting from realized losses on a sale of Fund shares at the end of the

period that is used to offset other gains. Actual after-tax returns depend on an

investor’s tax situation and may differ from those shown. The after-tax returns

shown are not relevant to investors who hold their Fund shares through tax-

advantaged arrangements such as 401(k) plans or Individual Retirement Accounts

(“IRAs”). After-tax returns for other share classes are not shown in the table and will

vary from those shown for Class A shares.

The Fund as adopted the S&P 500

Index as its broad-based securities market index.

SUMMARY – Focused Growth Fund

Average Annual Total Returns

(for the periods ended December 31, 2024)

Class

1 Year

5 Years

Life of Class

Inception

Date for

Performance

Class A Shares

1/31/2019

Before Taxes

41.87%

19.44%

19.09%

After Taxes on Distributions

41.87%

17.64%

17.57%

After Taxes on Distributions and Sale of Fund Shares

24.79%

14.99%

15.02%

Class C Shares

(1)

48.37%

19.96%

19.41%

1/31/2019

Class F Shares

50.92%

21.18%

20.61%

1/31/2019

Class F3 Shares

51.14%

21.29%

20.72%

1/31/2019

Class I Shares

50.90%

21.17%

20.61%

1/31/2019

Class R3 Shares

50.13%

20.58%

20.01%

1/31/2019

Class R4 Shares

50.54%

20.87%

20.31%

1/31/2019

Class R5 Shares

50.86%

21.18%

20.61%

1/31/2019

Class R6 Shares

51.14%

21.29%

20.72%

1/31/2019

Index

Russell 1000

Growth Index

(reflects no deduction for fees, expenses, or taxes)

33.36%

18.96%

20.29%

1/31/2019

S&P 500

Index

(reflects no deduction for fees, expenses, or taxes)

25.02%

14.53%

15.94%

1/31/2019

(1)

Class C shares convert to Class A shares eight years after purchase. Class C share performance does not reflect the

impact of such conversion to Class A shares.

MANAGEMENT

Investment Adviser.

The Fund’s investment adviser is Lord Abbett.

SUMMARY – Focused Growth Fund

Portfolio Managers

Portfolio Managers/Title

Member of

the Portfolio

Management

Team Since

F. Thomas O’Halloran, Partner and Portfolio Manager

2019

Vernon T. Bice, Portfolio Manager

2019

Matthew R. DeCicco, Partner and Director of Equities

2019

PURCHASE AND SALE OF FUND SHARES

The minimum initial and additional amounts shown below vary depending on the

class of shares you buy and the type of account. Certain financial intermediaries may

impose different restrictions than those described below. For Class I shares, the

minimum investment shown below applies to certain types of institutional investors,

but does not apply to registered investment advisers or retirement and benefit plans

otherwise eligible to invest in Class I shares. See “Choosing a Share Class –

Investment Minimums” in the prospectus for more information.

Investment Minimums — Initial/Additional Investments

Class

(1)

and C

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

General and IRAs without Invest-A-

Matic Investments

Initial: $1,500

Additional: No minimum

N/A

Initial: $1 million

Additional: No minimum

Invest-A-Matic Accounts

(2)

Initial: $250

Additional: $50

N/A

IRAs, SIMPLE and SEP Accounts

with Payroll Deductions

No minimum

N/A

Fee-Based Advisory Programs and

Retirement and Benefit Plans

No minimum

(1)

There is no investment minimum for Class A shares purchased by investors maintaining an account with a financial

intermediary that has entered into an agreement with Lord Abbett Distributor to offer Class A shares through a load-

waived network or platform, which may or may not charge transaction fees.

(2)

There is no minimum initial investment for Invest-A-Matic accounts held directly with the Fund, including IRAs.

You may sell (redeem) shares through your securities broker, financial professional

or financial intermediary on any business day the Fund calculates its net asset value

(“NAV”). If you have direct account access privileges, you may redeem your shares

by contacting the Fund in writing at Lord Abbett Funds Service Center, P.O. Box

534489, Pittsburgh, PA 15253-4489 (regular mail) or Attention: 534489, 500 Ross

Street 154-0520, Pittsburgh, PA 15262 (overnight mail), by calling 888-522-2388 or

by accessing your account online at www.lordabbett.com.