David Kathman: Lord Abbett Developing Growth (LAGWX) is a small-growth fund with a fairly aggressive strategy and high turnover. Normally, we tend to be fairly skeptical of funds like that; but in this case, Tom O'Halloran, who has been the lead manager since 2003, has compiled a really strong track record.
He tends to avoid the riskiest small-cap stocks, and even though the fund has had a tough time in down markets like 2008, it has always bounced back really strongly from those periods. The long-term track record is extremely strong, ranking in the top decile of the small-growth category.
The fund also has low expenses relative to its peers, helping it earn a Morningstar Analyst Rating of Silver. So, for investors looking for an aggressive fund in the small-growth category, this is one of our top picks.