Fund Manager: Michael T. Smith

Fund Currently Managed

Lord Abbett Small Cap Blend Fund/A (LSBAX), since inception in June, 2001.

Investment Style Overview

Invests in small-cap stocks that have both growth and value characteristics. Uses quantitative and fundamental research to construct a portfolio of stocks trading at the lower end of their historic valuation range and with growth prospects that are expected to exceed the growth rate of the U.S. economy.

Key Stock Selection Criteria

*Undervalued, trading at low end of historic valuation range.

*Positive earnings and improving fundamentals.

*Leadership position within industry.

Key Sell Criteria

*Becomes fully valued.

*Fundamentals deteriorate.

Biographical Notes

Michael T. Smith, a partner at Lord Abbett, joined the firm from Capital Management Associates, where was an equity analyst. He received a B.A. from California State University, Fullerton, and an MBA from New York University.

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