We strive to provide the highest level of client satisfaction, and handle each request with the utmost importance. We expect to respond to each request we receive within one business day of receipt.
Please note that trades cannot be processed via e-mail for security reasons. If your inquiry requires immediate assistance, please call us at
1-800-821-5129 (8:30 a.m.-6:00 p.m. EST, Mon-Fri).
Thank you for contacting Lord Abbett. A member of our staff will contact you between X:XXpm EST and XX:XXpm EST [today OR XX/XX/XXXX]. A confirmation has been sent to your email address.Close
Use this form to give us your feedback or report any problems you experienced finding information on our Website.
* Indicates Required Fields
Thank you for providing feedback.
Jersey City, NJ – July 1, 2009 – As part of its ongoing strategy to enhance the quality of the firm’s investment offerings, Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, announced today the repositioning of several domestic large cap equity funds. As a result of this effort, four funds will have new names and one fund will have a lower total expense ratio.
As part of this repositioning, the Lord Abbett All Value Fund will change its name to the Lord Abbett Fundamental Equity Fund; Lord Abbett Large Cap Core Fund will be called the Lord Abbett Classic Stock Fund; the Lord Abbett America’s Value Fund will be named the Lord Abbett Capital Structure Fund; and the Lord Abbett Large Cap Growth Fund will change to the Lord Abbett Stock Appreciation Fund. A fifth Lord Abbett large cap domestic equity fund, the Lord Abbett Affiliated Fund, Lord Abbett’s oldest and largest equity fund, will retain its current name. In addition to the name changes, the net expense ratio for the Lord Abbett Classic Stock Fund (formerly the Large Cap Core Fund) has been reduced to 98 basis points (Class A shares of the Fund).*
Lord Abbett believes the recent market turmoil underscores the need for investors and their advisors to have a better understanding of each strategy’s distinguishing characteristics. Daria Foster, Lord Abbett Managing Partner, said, “The quality of our clients’ investment experience is directly related to their having a clear understanding of what is distinctive about each investment approach. These name changes are the latest result of a process initiated several years ago to enhance the firm’s investment capabilities, to provide our clients with investment choices of the highest quality, and to increase the competitiveness of our products in the marketplace.”
While each of these five investment portfolios pursues a distinct investment strategy, they are built on the firm’s common investment philosophy. “The three principle tenets of this philosophy, which we refer to as the ‘ties that bind,’ are: our belief in active management, our commitment to research, and our adherence to risk management,” said Foster.
The Lord Abbett Selection of Large Cap Portfolios
With regard to the lower expense ratio, Foster commented: “We are continuously evaluating our funds to make sure they are competitive in every way, including how they are priced.” Earlier this year, Lord Abbett lowered the net expense ratio on the Lord Abbett High Yield Fund (Class A and F shares). **
Over the past three years, the firm has reviewed extensively all its mutual fund offerings, resulting in a series of strategic changes. These endeavors include broadening the taxable fixed-income offerings, expanding the municipal bond capabilities, and adding to the strategic allocation fund selection. These changes resulted in increased inflows for each of these capabilities. With these latest changes, Lord Abbett now offers investors what the firm believes is a complete selection of domestic large cap equity strategies in anticipation of renewed interest in equity funds going forward. “Since we made many of these changes, we have experienced a significant interest in our taxable and tax-exempt offerings. As equity investors return to the market, we should be well positioned to achieve the same result,” said Foster.
# # #