A Jersey City-based asset manager has grown its asset allocation line-up with a fifth offering in its fund-of-funds set.

Lord, Abbet & Co.'s Lord Abbett Diversified Equity Strategy Fund, a moderately aggressive lifestyle fund, will invest in various Lord Abbett equity mutual funds with an emphasis on large-cap and international funds. Chief investment officer Robert Morris described it as a means of achieving long-term growth with stability.

The new product joins the Jersey City-based company's other allocation funds: Lord Abbett Income Stratagy Fund, Lord Abbett Balanced Strategy Fund, Lord Abbett World Growth & Income Fund, and Lord Abbett Alpha Strategy Fund.  

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