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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Monday, March 17, 2008 Lord Abbett Becomes a Muni Bond Teacher The recent disruptions in the municipal bond market have inspired Lord Abbett to come up with an educational program for advisors. The program, which includes a conference call and an online resource page, seeks to help advisors understand muni bond market movements and opportunities. Company Press Release Jersey City, NJ – March 17, 2008 – Lord, Abbett & Co. LLC (“Lord Abbett”), an independent, privately held investment management firm, has introduced a value-added program designed to clarify the current state of the municipal markets for financial advisors and help their clients take advantage of developing opportunities. Created in response to the recent disruptions in the municipal bond market, the program includes: *A public Web resource page (www.lordabbett.com/muniresources) with educational material about the municipal bond market; * A presentation for financial advisors that examines dislocations in the current and other markets, and provides a valuation analysis of the opportunity that may exist; *A live Lord Abbett conference call designed only for financial advisors covering the confluence of events that caused the drop in municipal bond prices; and * Special mailings that highlight issues financial advisors should be aware of when investing in municipal bonds. Michael Weldon, Lord Abbett Director of Retail Marketing, said, “We are trying to arm financial advisors and their clients with enough information about the current market conditions in municipal bonds to better understand the significance of current market events and take advantage of the potential opportunities presented.” In speaking about the current market, Daniel Solender, Lord Abbett Director of Municipal Bond Management and Portfolio Manager, deemed it “unprecedented” as compared to any other period he could recall in his two decades of investment experience. “Even with the recent declines, underlying market fundamentals remain healthy, and recent price movements and a supply/demand imbalance has, in our opinion, created excellent relative value,” he said. Lord Abbett has been managing municipal bonds since the early 1980s, and currently manages approximately $9 billion in tax-free mutual funds and separately managed accounts (as of February 29, 2008). Printed from: MFWire.com/story.asp?s=17704 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |