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JERSEY CITY , NJ—November 2, 2011—Lord, Abbett & Co. LLC ("Lord Abbett"), an independent, privately held investment management firm, and Wilshire Associates Incorporated ("Wilshire®"), a leading global, independent investment consulting and services firm, today jointly announced the availability of Wilshire/Lord Abbett Pro Active Income Solutions through Envestnet, a leading provider of wealth advisory solutions to more than 20,000 financial advisors. Designed to deliver targeted income, these solutions offer the clients of independent advisors access to Wilshire's dynamic asset-allocation capabilities and Lord Abbett's comprehensive suite of fixed-income mutual funds to provide exposure to timely opportunities in the fixed-income market.
Launched in June 2011, Pro Active Income Solutions combine the institutional expertise of Wilshire with Lord Abbett's extensive lineup of taxable and tax-exempt fixed-income capabilities to create two, competitively priced offerings: the Wilshire/Lord Abbett Active Income Portfolio (targeting the 10-year Treasury yield plus 150 basis points [bps]) and the Wilshire/Lord Abbett Active Tax Free Income Portfolio (targeting the 10-year muni yield plus 150 bps). These actively managed fixed-income portfolios are designed to skillfully capture timely opportunities to produce attractive income while maintaining rigorous risk controls.
"Envestnet is an ideal platform to provide independent advisors with access to these customized, targeted income portfolios," said Daria Foster, Lord Abbett Managing Partner. "Their leadership and experience in meeting the needs of the independent advisor community aligns with our strategic focus on serving this important market."
"We are excited to add Lord Abbett and Wilshire Associates' income portfolios onto the platform," said Ron Fiske, Envestnet Managing Director. "During times of uncertainty, advisors are looking for solid investment guidance, as well as investment solutions that can help reassure their clients. Lord Abbett and Wilshire Associates together add new capabilities for the benefit of advisors on the Envestnet platform."
Advisors on the Envestnet platform have access to a wealth of information from top managers that may include economic commentaries and investment research. In addition, Envestnet hosts a weekly "Market Morning" call every Wednesday, 9 a.m. ET, which features a top economist or investment strategist who discusses the current investment climate. Many of the top managers on the platform are leveraged for these calls. For more information on accessing Pro Active Income Solutions portfolios on the Envestnet platform, advisors can contact a Sales Consultant in their region at 855-769-0806.
Pro Active Income Solutions are a suite of mutual fund asset-allocation models designed by Wilshire Funds Management, a business unit of Wilshire Associates Incorporated ("Wilshire®"), to invest across a range of Lord Abbett fixed-income mutual funds. Lord Abbett is not responsible for the selection or oversight of Wilshire Funds Management. Lord Abbett receives no compensation with respect to the advisory services provided by Wilshire Funds Management except to the extent that Lord Abbett or its affiliates receives fees in its role as investment adviser, administrator, or distributor to the Lord Abbett Funds invested through the Pro Active Income Solutions Portfolios.
Wilshire Funds Management uses an active tactical asset-allocation strategy to manage the Pro Active Income Solutions Portfolios. Wilshire Funds Management uses mathematical and statistical investment processes to allocate assets and construct portfolios in ways that seek to outperform their specific benchmarks. There is no guarantee that any of the Pro Active Income Solutions portfolios will meet or exceed their investment objectives or performance benchmarks.
About Lord Abbett
Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, Lord Abbett has consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. Lord Abbett manages approximately $100 billion in assets (as of September 30, 2011) across a full range of mutual funds, institutional and separately managed accounts, including $2.9 billion for which Lord Abbett provides investment models to managed account sponsors.
About Wilshire Associates
Wilshire® is a registered service mark of Wilshire Associates Incorporated, Santa Monica, California. All other trade names, trademarks, and/or service marks are the property of their respective holders. Wilshire Associates Incorporated 1299 Ocean Avenue, Suite 700, Santa Monica, CA 90401 www.wilshire.com
Wilshire Associates Incorporated ("Wilshire®"), a leading global, independent investment consulting and services firm, provides consulting services, investment analytics and customized investment solutions to plan sponsors, investment managers, and financial intermediaries. The firm was founded in 1972, revolutionizing the industry by developing the application of investment analytics and research to investment management for the institutional marketplace. Based in Santa Monica, California, Wilshire provides services to clients in more than 20 countries representing approximately 600 organizations. Wilshire Funds Management, the global investment management business unit of Wilshire, leverages Wilshire's institutional expertise to help financial institutions design and implement individual investor solutions.
Wilshire is not affiliated with Lord Abbett and Wilshire does not have any discretionary authority or control with respect to purchasing or selling securities or making investments for investors. Wilshire makes no warranties, expressed or implied, as to results to be obtained from use of information provided by Wilshire and used in this service, and Wilshire expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect thereto. The information contained herein has been obtained from sources believed to be reliable. Wilshire gives no representations or warranties as to the accuracy of such information, and accepts no responsibility or liability (including for indirect, consequential or incidental damages) for any error, omission or inaccuracy in such information and for results obtained from its use. Information and opinions are as of the date indicated, and are subject to change without notice. Any opinions expressed in this material are current only as of the time made and are subject to change without notice. Wilshire assumes no duty to update any such statements. The financial advisor is responsible for client suitability.
Envestnet, Inc. (NYSE:ENV) is a leading provider of technology-enabled wealth management solutions to financial advisors. Envestnet's platform, the Advisor Suite™, empowers advisors to better manage client outcomes and strengthen their practice. Envestnet PMC offers advisors proven portfolio solutions and access to hundreds of vetted investment managers and strategists.
Envestnet is headquartered in Chicago, with offices in Boston, Denver, New York, Sunnyvale, and Trivandrum, India. The firm has more than $139 billion in total assets and serves more than 904,000 investor accounts.* For more information on Envestnet, please go to www.envestnet.com.
* Data include assets under management or administration and licensing agreements as of June 30, 2011.
A Note about Risk: Asset Allocation—The Portfolio is designed to invest in mutual funds that may engage in a variety of investment strategies involving certain risks. The Portfolio may be subject to the particular risks of the mutual funds in proportion to which each Portfolio invests in them. Performance of the selected mutual fund may be lower than the performance of the asset class that the mutual fund was selected to represent. Taxable Fixed-Income—Portfolios that invest in fixed income securities are subject to several general risks, including interest rate risk, credit risk, which could reduce the performance of the Portfolio. These risks may occur from fluctuations in interest rates, a change to an issuer's individual situation or industry, or events in the financial markets. As interest rates fall, the prices of fixed income securities tend to rise. As rates rise, prices tend to fall. High-yield securities, sometimes called junk bonds, carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. Tax-Free Income—There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-free income. In addition, Portfolios that invest in tax-free fixed income securities may be subject to other types of risk such as call, credit, liquidity, interest-rate, and general market risks. A portion of the income derived from a Portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Investors should consult with a tax advisor for more information regarding taxation. Asset allocation does not ensure profit or protect against loss.