MutualFundWire.com: Lord, Abbett Closes Fund
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Tuesday, September 21, 1999

Lord, Abbett Closes Fund


Lord, Abbett & Co. has announced the closing of the Lord Abbett Developing Growth Fund to new retail investors as of September 30th. The company said the decision represents an "ongoing effort to effectively manage the portfolio and better serve current shareholders."

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    • "Bigger is not always better," said Robert Morris, partner and director of equity investments at Lord Abbett. "The investment team has done an outstanding job of managing this fund. This decision will help us protect the interests of our shareholders by enabling us to manage cash flows more efficiently, in what can sometimes be a volatile asset class."

    The fund, which has $2 billion in assets under management, will remain open to existing shareholders, qualified retirement plans, and mutual fund advisory programs.


    Printed from: MFWire.com/story.asp?s=25039

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