Private money management company Lord Abbett is one of the oldest such firms in the United States. The company's specialized approach to investing has resulted in its overseeing more than $87 billion in assets as of 2008. Because of Lord Abbett's reputation for providing quality service, its mutual funds are a favorite choice in the financial sector.
The Lord Abbett fund was one of the first mutual funds to be introduced to the market. It was created by Lord, Abbett & Co., and debuted in 1932 during the Great Depression.
Lord Abbett mutual funds, like any other mutual funds, take a vast sum of money from multiple investors and invest that capital in a variety of stocks, bonds and other securities.
The company's portfolio of mutual funds is divided into eight categories, which are defined by an investment style or goal. These categories are value, growth, blend, international, strategic allocation, taxable income, municipal income and money market.
Some mutual funds are dedicated to interests in one state, such as the Georgia Tax Free Trust. Several funds have their interests spread out among United States companies, like the Value Opportunities Fund that includes shares in HCC Insurance Holdings and the J.M. Smucker Company. And some of the mutual funds are dedicated to international interests, like the International Dividend Income Fund.
One Lord Abbett mutual fund, the Developing Growth Fund, received the Lipper Fund Award for small-cap growth in April 2008. It placed first out of 477 other funds for its performance during a 3-year period.
When getting an overview on how a Lord Abbett mutual fund is doing, the quote you receive represents its past performance and does not indicate how it may fare in the future. How it's currently performing might be better or worse than the figures that are given.
All investments related to the stock market involve risk. Lord Abbett mutual funds aren't insured by the FDIC or any other financial institution, and you stand the chance of losing both profits and your initial investment, depending on market conditions.