Lord Abbett & Co. LLC Proxy Voting Policies and Procedures
Lord Abbett generally votes in accordance with management's recommendations on most shareholder proposals, including the election of directors, appointment of independent auditors, and changes to the authorized capitalization (barring excessive increases). Lord Abbett's Proxy Voting Procedure is based on the premise that a broad vote of confidence in such matters is due the management of any company whose shares we are willing to hold.
Lord Abbett is a privately held firm, and we conduct only one business: we manage the investment portfolios of our clients. Because of this, and based on our past experience, we do not expect conflicts of interest involving the Lord Abbett proxy voting process.
However, we have established a Proxy Committee for the firm as a whole and for each of our Funds in order to set proxy voting policy, monitor and record the actions of Lord Abbett in voting securities, and determine votes in situations in whvich there may be conflicts of interest. To aid us in these matters, we have also retained the services of Institutional Shareholder Services (ISS).