Lord Abbett High Yield Offering Hits 10-year Record

April 2, 2009 (PLANSPONSOR.com) - Lord Abbett & Co. announced that its Lord Abbett High Yield Fund A (LHYAX) attained its 10-year performance record with a top quartile showing as of December 31, 2008.

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. 

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.

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.