EXHIBIT 12


CONSENT OF INDEPENDENT AUDITORS

Lord Abbett Large-Cap Growth Fund:

We consent to the use in this  Post-Effective  Amendment  No. 2 to  Registration
Statement No. 811-9597 of Lord Abbett  Large-Cap Growth Fund on Form N-14 of our
report dated  December 15, 1999,  on the  Statement of Net Assets of Lord Abbett
Large-Cap  Growth Fund as of December 14, 1999  appearing  in such  Registration
Statement,  and of our report dated July 9, 1999 appearing (and  incorporated by
reference) in the annual report to  shareholders  of Lord Abbett Equity Fund for
the year  ended  May 31,  1999 and to the  references  to us under  the  heading
"Agreement  and  Plan  of  Reorganization"  in  the  Combined   Prospectus/Proxy
Statement and on the cover page of the Statement of Additional Information, both
of which are part of such Registration Statement.


DELOITTE & TOUCHE LLP
New York, New York
February 28, 2000