Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Lord Abbett Cuts the Expense Ratio on its High Yield Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 2, 2009

Lord Abbett Cuts the Expense Ratio on its High Yield Fund

by: Armie Margaret Lee

Lord Abbett has reduced the expense ratio on its High Yield Fund's Class A shares by 25 basis points. The expense ratio now stands at 98 bps.

"This will make it a more competitive product, in that the expense ratio is lower than both its Morningstar and Lipper category averages," said Lord Abbett spokesman Jason Farago.

The $375 million fund offers a total of eight share classes.
Company Press Release

Jersey City, NJ – April 2, 2009 – Lord, Abbett & Co. LLC ("Lord Abbett"), an independent, privately held investment management firm, announced a significant milestone in its taxable fixed-income franchise: the Lord Abbett High Yield Fund A (LHYAX) attained its 10-year performance record with top quartile performance (22nd percentile in the Lipper High Yield category/44 out of 201 funds),* as of December 31, 2008. In addition, the firm announced that effective March 1, 2009, the net expense ratio on the High Yield Fund’s Class A shares was reduced to 0.98 percent, lower than both its Morningstar and Lipper category averages. The lower expense ratio will provide investors with a higher dividend yield and the potential for higher income during a time when Lord Abbett sees long-term credit opportunity in the high-yield market.

Since the High Yield Fund’s inception in 1998, it has been led by Michael Goldstein, Partner and Portfolio Manager, and Christopher Towle, Partner and Director of High Yield and Convertible Investments, and is supported by a group of 10 credit analysts with an average of 15 years experience. “In difficult markets, our rigorous approach to credit research and the seasoned judgment of our investment team can make the difference in identifying opportunities in this distinct asset class,” said Goldstein. "We also have an intense focus on minimizing our exposures to unattractive credits and have a tradition of responding rapidly when a company’s credit situation deteriorates."

The High Yield Fund is a core component of Lord Abbett’s suite of high-yield/convertible fixed-income strategies, including high-yield corporate debt, bank loans, and convertible bonds managed for institutions and individual investors. The insights gained from this broad view of a company’s capital structure, combined with the judgment of the Fund’s portfolio team, have been key factors in the Fund’s success. Lord Abbett was a pioneer in high-yield investing, and has been managing high-yield bonds since 1971, when it established the Lord Abbett Bond Debenture Fund, one of the industry’s first multi-sector bond funds.
 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MFDF Director Discussion Series - Open Forum, July 9
  2. ICI webinar - The Digital Future of Asset Management: Current State and Regulatory Landscape, July 10
  3. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  4. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  5. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  6. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  7. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  8. MFDF webinar - ETF Conversions, July 17
  9. MFDF Director Discussion Series - Open Forum (New York), July 22
  10. MFDF Ask Anything webinar - AI Edition, July 24
  11. MFDF webinar - Use of Derivatives by RICs, July 29
  12. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  13. Samfund Soiree Boston 2025, August 21
  14. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  15. ICI ETF Conference, Sep 8-10
  16. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  17. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  18. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  19. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  20. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  21. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  22. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  23. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  24. 10th annual Fuse Forum, October 8
  25. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  26. 2025 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use