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A CDSC of 1.00% may be assessed on Class C shares if they are redeemed before the first anniversary of their purchase. These amounts have been updated from fiscal year amounts to reflect current fees and expenses. For the period December 15, 2011 through November 30, 2013, Lord, Abbett & Co. LLC has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses for each class, excluding 12b-1 fees, to an annual rate of 0.50%. This agreement may be terminated only by the Fund's Board of Trustees. 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 of the one-year anniversary of the purchase. A CDSC of 1.00% may be assessed on Class C shares if they are redeemed before the first anniversary of their purchase. These amounts have been updated from fiscal year amounts to reflect current fees and expenses. For the period December 15, 2011 through November 30, 2013, Lord, Abbett & Co. LLC has contractually agreed to waive its fees and reimburse expenses to the extent necessary to limit total net annual operating expenses for each class, excluding 12b-1 fees, to an annual rate of 0.60%. This agreement may be terminated only by the Fund's Board of Trustees. 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 of the one-year anniversary of the purchase. A CDSC of 1.00% may be assessed on Class C shares if they are redeemed before the first anniversary of their purchase. LORD ABBETT EQUITY TRUST 485BPOS false 0001139819 2012-07-31 2012-11-27 2012-12-01 2012-12-01 Lord Abbett Calibrated Large Cap Value Fund 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: <ul> <li> New Fund Risk: The Fund only recently commenced operations. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. </li> <li> Investment Strategy Risk: If the Fund’s fundamental research and quantitative analysis fail to produce the intended result, the Fund may suffer losses or underperform its benchmark or other funds with the same investment objective or strategies, even in a rising market. </li> <li> Equity Risk: Common stocks and other equity securities, as well as equity-like securities such as convertible bonds, 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. </li> <li> Large Company Risk: As compared to smaller successful companies, larger companies may be less able to respond quickly to certain market developments and may have slower rates of growth. </li> <li> Value Investing Risk: The prices of value stocks may lag the stock market for long periods of time if the market fails to recognize the company’s intrinsic worth. </li> <li> Foreign Company Risk: The Fund’s investments in foreign (including emerging market) companies and in U.S. companies with economic ties to foreign markets generally involve special risks that can increase the likelihood that the Fund will lose money. For example, as compared with companies organized and operated in the U.S., these companies may be more vulnerable to economic, political, and social instability and subject to less government supervision, inadequate regulatory and accounting standards, and foreign taxes. In addition, the securities of foreign companies also may be subject to inadequate exchange control regulations, higher transaction and other costs, reduced liquidity, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets. Emerging market securities generally are more volatile than other foreign securities, and are subject to greater liquidity, regulatory, and political risks. </li> </ul> 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. As with any invesment 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 you may lose a portion or all of the money you invested in the Fund. 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. INVESTMENT OBJECTIVE The Fund’s investment objective is total return. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 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 professional and in “Sales Charge Reductions and Waivers” on page 45 of the prospectus and “Purchases, Redemptions, Pricing, and Payments to Dealers” on page 8-1 of the statement of additional information (“SAI”). 0.0575 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0000 0.0000 0.0000 0.0000 0.0060 0.0060 0.0060 0.0060 0.0060 0.0060 0.0025 0.0100 0.0010 0.0000 0.0060 0.0050 0.0056 0.0056 0.0056 0.0056 0.0056 0.0056 0.0141 0.0216 0.0126 0.0116 0.0176 0.0166 -0.0066 -0.0066 -0.0066 -0.0066 -0.0066 -0.0066 0.0075 0.0150 0.0060 0.0050 0.0110 0.0100 ~ http://www.lordabbett.com/20121127/role/ScheduleShareholderFees20001 column dei_LegalEntityAxis compact cik0001139819_S000035058Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleAnnualFundOperatingExpenses20002 column dei_LegalEntityAxis compact cik0001139819_S000035058Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-11-30 This amount has been updated from fiscal year amounts to reflect current fees and expenses. 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 50000 Shareholder Fees (Fees paid directly from your investment) PRINCIPAL INVESTMENT STRATEGIES The Fund invests principally in large, established companies that the Fund’s portfolio management team believes are undervalued. The Fund’s portfolio management team uses fundamental research and quantitative analysis to select the Fund’s investments, while seeking to maintain an investment portfolio with overall industry and sector weightings generally similar to those of the Russell 1000® Value Index. The Fund may invest in U.S. and foreign (including emerging market) companies. Foreign companies may be traded on U.S. or non-U.S. securities exchanges and may be denominated in the U.S. dollar or other currencies. Under normal market conditions, the Fund’s investments primarily include the following types of securities and other financial instruments: <ul> <li> Equity securities, including common stocks, preferred stocks, and equity interests in trusts (including real estate investment trusts), partnerships, joint ventures, and limited liability companies. The Fund considers equity securities to include rights offerings and investments that convert into the equity securities described above. </li> <li> Large companies having a market capitalization at the time of purchase that falls within the market capitalization range of companies in the Russell 1000® Index. The Fund normally invests at least 80% of its net assets in equity securities of large companies. </li> <li> Value companies that the Fund’s portfolio management team believes to be underpriced or undervalued according to certain financial measurements of intrinsic worth or business prospects and have the potential for capital appreciation. </li> </ul> The Fund generally will sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, shows signs of deteriorating fundamentals, or has reached its valuation target, among other reasons. The Fund seeks to remain fully invested in accordance with its investment objective; however, in response to adverse economic, market or other unfavorable conditions, the Fund may invest its assets in a temporary defensive manner. Example The following 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 at the maximum sales charge, if any, 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, that dividends and distributions are reinvested, and that the Fund’s operating expenses remain the same (except that the example takes into account the contractual fee waiver and expense limitation agreement between the Fund and Lord, Abbett & Co. LLC for the term of the agreement). The example assumes a deduction of the applicable contingent deferred sales charge (“CDSC”) for the one-year period for Class C shares. The first example assumes that you redeem all of your shares at the end of the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs (including any applicable CDSC) would be as shown below. The second example assumes that you do not redeem and instead keep your shares. 647 934 1242 2115 647 934 1242 2115 253 613 1099 2441 153 613 1099 2441 61 334 628 1464 61 334 628 1464 51 303 575 1350 51 303 575 1350 112 490 892 2019 112 490 892 2019 102 459 840 1910 102 459 840 1910 ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleTransposed20003 column dei_LegalEntityAxis compact cik0001139819_S000035058Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleNoRedemptionTransposed20004 column dei_LegalEntityAxis compact cik0001139819_S000035058Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ If Shares Are Redeemed If Shares Are Not Redeemed 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 period from December 21, 2011 (commencement of operations) to July 31, 2012, the Fund’s portfolio turnover rate was 62.31% of the average value of its portfolio. 0.6231 PERFORMANCE This prospectus does not show performance information for the Fund because the Fund has not completed one full calendar year of investment operations as of the date of this prospectus. Performance for the Fund, which provides some indication of the risks of investing in the Fund, will vary from year to year. Performance information for the Fund is available at www.lordabbett.com or by calling 888-522-2388. This prospectus does not show performance information for the Fund because the Fund has not completed one full calendar year of investment operations as of the date of this prospectus. Performance for the Fund, which provides some indication of the risks of investing in the Fund, will vary from year to year. 888-522-2388 www.lordabbett.com Lord Abbett Calibrated Mid Cap Value Fund 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: <ul> <li> New Fund Risk: The Fund only recently commenced operations. There can be no assurance that the Fund will reach or maintain a sufficient asset size to effectively implement its investment strategy. </li> <li> Investment Strategy Risk: If the Fund’s fundamental research and quantitative analysis fail to produce the intended result, the Fund may suffer losses or underperform its benchmark or other funds with the same investment objective or strategies, even in a rising market. </li> <li> Equity Risk: Common stocks and other equity securities, as well as equity-like securities such as convertible bonds, 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. </li> <li> Mid-Sized Company Risk: The Fund invests primarily in equity securities of mid-sized companies, which typically involve greater investment risks than larger companies. As compared to larger companies, mid-sized companies may have limited management experience or depth, limited ability to generate or borrow capital needed for growth, and limited products or services, or operate in less established markets. Accordingly, mid-sized company securities tend to be more sensitive to changing economic conditions and tend to be more volatile than equity securities of larger companies. </li> <li> Value Investing Risk: The prices of value stocks may lag the stock market for long periods of time if the market fails to recognize the company’s intrinsic worth. </li> <li> Foreign Company Risk: The Fund’s investments in foreign (including emerging market) companies and in U.S. companies with economic ties to foreign markets generally involve special risks that can increase the likelihood that the Fund will lose money. For example, as compared with companies organized and operated in the U.S., these companies may be more vulnerable to economic, political, and social instability and subject to less government supervision, inadequate regulatory and accounting standards, and foreign taxes. In addition, the securities of foreign companies also may be subject to inadequate exchange control regulations, higher transaction and other costs, reduced liquidity, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets. Emerging market securities generally are more volatile than other foreign securities, and are subject to greater liquidity, regulatory, and political risks. </li> <li> Real Estate Risk: An investment in a REIT generally is subject to the risks that impact the value of the underlying properties or mortgages of the REIT. These risks include loss to casualty or condemnation, and changes in supply and demand, interest rates, zoning laws, regulatory limitations on rents, property taxes, and operating expenses. Other factors that may adversely affect REITs include poor performance by management of the REIT, changes to the tax laws, or failure by the REIT to qualify for tax-free distribution of income. </li> </ul> 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. As with any invesment 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 you may lose a portion or all of the money you invested in the Fund. 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. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 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 professional and in “Sales Charge Reductions and Waivers” on page 45 of the prospectus and “Purchases, Redemptions, Pricing, and Payments to Dealers” on page 8-1 of the statement of additional information (“SAI”). 0.0575 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0100 0.0000 0.0000 0.0000 0.0000 0.0060 0.0060 0.0060 0.0060 0.0060 0.0060 0.0025 0.0100 0.0010 0.0000 0.0060 0.0050 0.0078 0.0078 0.0078 0.0078 0.0078 0.0078 0.0163 0.0238 0.0148 0.0138 0.0198 0.0188 -0.0078 -0.0078 -0.0078 -0.0078 -0.0078 -0.0078 0.0085 0.0160 0.0070 0.0060 0.0120 0.0110 ~ http://www.lordabbett.com/20121127/role/ScheduleShareholderFees20007 column dei_LegalEntityAxis compact cik0001139819_S000035059Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleAnnualFundOperatingExpenses20008 column dei_LegalEntityAxis compact cik0001139819_S000035059Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 2013-11-30 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. These amounts have been updated from fiscal year amounts to reflect current fees and expenses. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 50000 Shareholder Fees (Fees paid directly from your investment) INVESTMENT OBJECTIVE The Fund’s investment objective is total return. PRINCIPAL INVESTMENT STRATEGIES The Fund invests principally in mid-sized companies that the Fund’s portfolio management team believes are undervalued. The Fund’s portfolio management team uses fundamental research and quantitative analysis to select the Fund’s investments, while seeking to maintain an investment portfolio with overall industry and sector weightings generally similar to those of the Russell Midcap® Value Index. The Fund may invest in U.S. and foreign (including emerging market) companies. Foreign companies may be traded on U.S. or non-U.S. securities exchanges and may be denominated in the U.S. dollar or other currencies. Under normal market conditions, the Fund’s investments primarily include the following types of securities and other financial instruments: <ul> <li> Equity securities, including common stocks, preferred stocks, and equity interests in trusts (including real estate investment trusts) (“REITs”), partnerships, joint ventures, and limited liability companies. The Fund considers equity securities to include rights offerings and investments that convert into the equity securities described above. </li> <li> Mid-sized companies having a market capitalization at the time of purchase that falls within the market capitalization range of companies in the Russell Midcap® Index. The Fund normally invests at least 80% of its net assets in equity securities of mid-sized companies. </li> <li> Value companies that the Fund’s portfolio management team believes to be underpriced or undervalued according to certain financial measurements of intrinsic worth or business prospects and have the potential for capital appreciation. </li> </ul> The Fund generally will sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, shows signs of deteriorating fundamentals, or has reached its valuation target, among other reasons. The Fund seeks to remain fully invested in accordance with its investment objective; however, in response to adverse economic, market or other unfavorable conditions, the Fund may invest its assets in a temporary defensive manner. 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 period from December 21, 2011 (commencement of operations) to July 31, 2012, the Fund’s portfolio turnover rate was 76.72% of the average value of its portfolio. 0.7672 Example The following 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 at the maximum sales charge, if any, 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, that dividends and distributions are reinvested, and that the Fund’s operating expenses remain the same (except that the example takes into account the contractual fee waiver and expense limitation agreement between the Fund and Lord, Abbett & Co. LLC for the term of the agreement). The example assumes a deduction of the applicable contingent deferred sales charge (“CDSC”) for the one-year period for Class C shares. The first example assumes that you redeem all of your shares at the end of the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs (including any applicable CDSC) would be as shown below. The second example assumes that you do not redeem and instead keep your shares. 657 988 1341 2335 657 988 1341 2335 263 668 1200 2657 163 668 1200 2657 72 391 734 1702 72 391 734 1702 61 360 681 1590 61 360 681 1590 122 546 995 2243 122 546 995 2243 112 515 944 2137 112 515 944 2137 ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleTransposed20009 column dei_LegalEntityAxis compact cik0001139819_S000035059Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleNoRedemptionTransposed20010 column dei_LegalEntityAxis compact cik0001139819_S000035059Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ If Shares Are Redeemed If Shares Are Not Redeemed PERFORMANCE This prospectus does not show performance information for the Fund because the Fund has not completed one full calendar year of investment operations as of the date of this prospectus. Performance for the Fund, which provides some indication of the risks of investing in the Fund, will vary from year to year. Performance information for the Fund is available at www.lordabbett.com or by calling 888-522-2388. This prospectus does not show performance information for the Fund because the Fund has not completed one full calendar year of investment operations as of the date of this prospectus. Performance for the Fund, which provides some indication of the risks of investing in the Fund, will vary from year to year. 888-522-2388 www.lordabbett.com Lord Abbett Small-Cap Blend Fund 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: <ul> <li> Portfolio Management Risk: If the strategies used and securities selected by the Fund’s portfolio management 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 rising market. </li> <li> Equity Risk: Common stocks and other equity securities, as well as equity-like securities such as convertible bonds, 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. </li> <li> Small Company Risk: The Fund invests principally in equity securities of small companies. Small companies typically involve greater investment risks than larger companies. Small capitalization companies may have limited management experience or depth, limited ability to generate or borrow capital needed for growth, and limited products or services or operate in markets that have not yet been established as compared to larger companies. Accordingly, small company securities tend to be more sensitive to changing economic conditions and tend to be more volatile and less liquid than equity securities of larger companies. </li> <li> Blend Style Risk: The Fund uses a “blend” strategy to invest in both growth and value stocks, or in stocks with characteristics of both. The prices of growth stocks may fall dramatically if, for example, the company fails to meet earnings or revenue projections. The prices of value stocks may lag the market for long periods of time if the market fails to recognize the company’s worth. By combining both growth and value styles, the manager seeks to diversify these risks and lower the volatility, but there is no assurance this strategy will achieve that result. </li> <li> Foreign Company Risk: The Fund’s investments in foreign (including emerging market) companies and in U.S. companies with economic ties to foreign markets generally involve special risks that can increase the likelihood that the Fund will lose money. For example, as compared with companies organized and operated in the U.S., these companies may be more vulnerable to economic, political, and social instability and subject to less government supervision, inadequate regulatory and accounting standards, and foreign taxes. In addition, the securities of foreign companies also may be subject to inadequate exchange control regulations, higher transaction and other costs, reduced liquidity, and delays in settlement to the extent they are traded on non-U.S. exchanges or markets. Emerging market securities generally are more volatile than other foreign securities, and are subject to greater liquidity, regulatory, and political risks. </li> <li> Real Estate Risk: An investment in a REIT generally is subject to the risks that impact the value of the underlying properties or mortgages of the REIT. These risks include loss to casualty or condemnation, and changes in supply and demand, interest rates, zoning laws, regulatory limitations on rents, property taxes, and operating expenses. Other factors that may adversely affect REITs include poor performance by management of the REIT, changes to the tax laws, or failure by the REIT to qualify for tax-free distribution of income. </li> </ul> 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. As with any invesment 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 you may lose a portion or all of the money you invested in the Fund. 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. FEES AND EXPENSES This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. 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 professional and in “Sales Charge Reductions and Waivers” on page 45 of the prospectus and “Purchases, Redemptions, Pricing, and Payments to Dealers” on page 8-1 of the statement of additional information (“SAI”). 0.0575 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0000 0.0500 0.0100 0.0000 0.0000 0.0000 0.0000 0.0000 0.0075 0.0075 0.0075 0.0075 0.0075 0.0075 0.0075 0.0075 0.0035 0.0100 0.0100 0.0010 0.0000 0.0045 0.0060 0.0050 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0026 0.0136 0.0201 0.0201 0.0111 0.0101 0.0146 0.0161 0.0151 ~ http://www.lordabbett.com/20121127/role/ScheduleShareholderFees20013 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleAnnualFundOperatingExpenses20014 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ 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. Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 50000 Shareholder Fees (Fees paid directly from your investment) INVESTMENT OBJECTIVE The Fund’s investment objective is to seek long-term growth of capital by investing primarily in stocks of small companies. PRINCIPAL INVESTMENT STRATEGIES To pursue its objective, the Fund invests principally in small company stocks, including both growth and value stocks. The Fund chooses stocks using both quantitative and fundamental research. The Fund uses quantitative research to identify small companies selling at the lower end of their historic valuation range, companies with positive earnings, and companies with growth prospects that are expected to exceed the growth rate of the U.S. economy. The Fund uses fundamental research to learn about a small company’s operating environment, financial condition, leadership position within its industry, resources and strategic plans. Under normal market conditions, the Fund invests at least 80% of its net assets in equity securities of small companies. In selecting investments, the Fund may invest in U.S. and foreign (which may include emerging market) companies. Foreign companies may be traded on U.S. or non-U.S. securities exchanges, may be denominated in the U.S. dollar or other currencies, and may include American Depositary Receipts (“ADRs”). The Fund’s principal investments include the following types of securities and other financial instruments: <ul> <li> Equity securities usually include common stocks, but also may include preferred stocks, convertible securities, and equity interests in trusts (including real estate investment trusts (“REITs”)), partnerships, and limited liability companies. The Fund also may invest in securities that are tied to the price of stock, including rights and convertible debt securities. </li> <li> Small companies having a market capitalization at the time of purchase that falls within the market capitalization range of companies in the Russell 2000® Index. </li> <li> Growth companies that the Fund believes exhibit faster-than-average gains in earnings and have the potential to continue profit growth at a high level. </li> <li> Value companies that the Fund believes to be undervalued according to certain financial measurements of intrinsic worth or business prospects and have the potential for capital appreciation. </li> </ul> The Fund generally will sell a security when the Fund believes the security is less likely to benefit from the current market and economic environment, shows signs of deteriorating fundamentals, or has reached its valuation target, among other reasons. The Fund seeks to remain fully invested in accordance with its investment objective; however, in response to adverse economic, market or other unfavorable conditions, the Fund may invest its assets in a temporary defensive manner. 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 81.63% of the average value of its portfolio. 0.8163 Example The following 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 at the maximum sales charge, if any, 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, that dividends and distributions are reinvested, and that the Fund’s operating expenses remain the same. The example assumes a deduction of the applicable contingent deferred sales charge (“CDSC”) for the one-year, three-year, and five- year periods for Class B shares and for the one-year period for Class C shares. Class B shares automatically convert to Class A shares after approximately eight years. The expense example for Class B shares for the ten-year period reflects the conversion to Class A shares. The first example assumes that you redeem all of your shares at the end of the periods. Although your actual costs may be higher or lower, based on these assumptions, your costs (including any applicable CDSC) would be as shown below. The second example assumes that you do not redeem and instead keep your shares. 706 981 1277 2116 706 981 1277 2116 704 930 1283 2170 204 630 1083 2170 304 630 1083 2338 204 630 1083 2338 113 353 612 1352 113 353 612 1352 103 322 558 1236 103 322 558 1236 149 462 797 1746 149 462 797 1746 164 508 876 1911 164 508 876 1911 154 477 824 1802 154 477 824 1802 ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleTransposed20015 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ ~ http://www.lordabbett.com/20121127/role/ScheduleExpenseExampleNoRedemptionTransposed20016 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ If Shares Are Redeemed If Shares Are Not Redeemed 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. Bar Chart (per calendar year) - Class A Shares* -0.1503 0.5235 0.2084 0.1291 0.0595 0.0977 -0.3335 0.2364 0.1329 -0.0178 ~ http://www.lordabbett.com/20121127/role/ScheduleAnnualTotalReturnsBarChart20017 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact cik0001139819_C000018421Member row primary compact * ~ 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. Best Quarter: 0.2604 2003-06-30 Worst Quarter: -0.2592 2008-12-31 The total return for the Fund's Class A shares for the nine-month period from January 1, 2012 to September 30, 2012 was +8.12%. 0.0812 2012-09-30 <table style="WIDTH: 97.24%; MARGIN-LEFT: 0.88%; MARGIN-RIGHT: 0.88%" cellspacing="0"> <tr valign="bottom"> <td style="WIDTH: 51.2%">   </td> <td style="WIDTH: 2.63%">   </td> <td style="WIDTH: 43.06%" align="right">   </td> </tr> <tr valign="bottom"> <td> Best Quarter 2nd Q ’03 +26.04% </td> <td width="3">   </td> <td align="right"> Worst Quarter 4th Q ’08 -25.92% </td> </tr> </table> <table style="MARGIN-LEFT: 0.33pc; FONT-SIZE: 0.2mm" cellspacing="0" cellpadding="0"> <tr valign="top"> <td style="WIDTH: 5pt">   </td> </tr> <tr> <td colspan="99"> </td> </tr> <tr valign="top"> <td align="right"> * </td> <td width="3">   </td> <td>   </td> <td width="3">   </td> <td colspan="17"> The total return for the Fund’s Class A shares for the nine-month period from January 1, 2012 to September 30, 2012 was +8.12%. </td> </tr> <tr> <td colspan="99"> </td> </tr> </table> Average Annual Total Returns (for the periods ended December 31, 2011) The table below shows how the Fund’s average annual total returns compare to the returns of a securities 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- deferred 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. -0.0745 -0.0105 0.0590 -0.0745 -0.0154 0.0519 -0.0484 -0.0099 0.0493 -0.0728 -0.0088 0.0599 -0.0331 -0.0051 0.0586 -0.0150 -0.0244 -0.0134 0.0049 0.0689 -0.0178 0.0004 0.0648 -0.0199 -0.0029 -0.0185 -0.0020 -0.0418 0.0015 0.0562 -0.0055 -0.0418 0.0015 0.0562 0.0346 2007-09-28 2007-09-28 2008-03-31 2008-03-31 2008-03-31 2001-06-26 ~ http://www.lordabbett.com/20121127/role/ScheduleAverageAnnualReturnsTransposed20018 column dei_LegalEntityAxis compact cik0001139819_S000006803Member column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~ 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. 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. The Fund's past performance, before and after taxes, is not necessarily an indication of how the Fund will perform in the future. After-tax returns for other share classes are not shown in the table and will vary from those shown for Class A shares. (reflects no deduction for fees, expenses, or taxes) This chart does not reflect the sales charge applicable to Class A shares. If the sales charge were reflected, returns would be lower. 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. 888-522-2388 www.lordabbett.com The after-tax returns shown are not relevant to investors who hold their Fund shares through tax- deferred arrangements such as 401(k) plans or Individual Retirement Accounts ("IRAs").