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Products April 2, 2009
Lord Abbett Lowers Expense Ratio of High Yield Offering
Lord Abbett&Co. announced that effective March 1, 2009, the net expense ratio on the Lord Abbett High Yield Fund A (LHYAX) Class A shares was reduced to 0.98%.
Reported by Fred Schneyer
The company also announced that the fund attained its 10-year performance record, with a top quartile showing as of December 31, 2008.
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 company said.
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, according to the company.
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