Lord Abbett Announces New Asset Allocation Offering

July 10, 2006 (PLANSPONSOR.com) - Lord, Abbett & Co. has unveiled its newest investment fund, the Lord Abbett Diversified Equity Strategy Fund.

A Lord Abbett news release said the asset allocation offering invests in Lord Abbett equity mutual funds and takes a moderately aggressive investment approach that emphasizes large-cap and international funds. For greater diversification and investment opportunity, it also includes an allocation to smaller stocks, the company said.

This is the fifth strategic allocation fund Lord Abbett has offered. Using a fund of funds setup, the funds offer broad diversification and exposure to several investment styles in a single point of purchase. The other Strategic Allocation Funds are: 

  • Lord Abbett Income Strategy Fund
  • Lod Abbett Balanced Strategy Fund
  • Lord Abbett World Growth & Income Fund
  • Lord Abbett Alpha Strategy Fund.

A committee of four portfolio managers will lead this new fund. This committee has the flexibility to change the fund’s allocations to underlying funds based on market valuations and other changing conditions.  

The funds in which Lord Abbett Diversified Equity Strategy Fund may invest include:

  • Lord Abbett Affiliated Fund
  • Lord Abbett Large-Cap Growth Fund
  • Lord Abbett Large-Cap Core Fund
  • Lord Abbett Mid-Cap Value Fund
  • Lord Abbett Affiliated Fund
  • Lord Abbett Value Opportunities Fund
  • Lord Abbett Growth Opportunities Fund
  • Lord Abbett International Core Fund
  • Lord Abbett International Opportunities Fund.

In late 2005, Lord Abbett  began offering its strategic allocation funds as an option on its small-business 401(k) plans. In recent months, one-third of new Lord Abbett retirement plans have selected this option, the company said in the announcement.