Lord Abbett cuts fees on three funds

Lord Abbett has lowered the front-end sales charge on three of its short-term, fixed-income mutual funds to 2.25%, from 3.25%.
APR 09, 2008
By  Bloomberg
Lord Abbett & Co. LLC has lowered the front-end sales charge on three of its short-term, fixed-income mutual funds to 2.25%, from 3.25%. The funds are Lord Abbett’s Floating Rate Fund (LFRAX), the Short Duration Income Fund (LALDX) and the Intermediate Tax-Free Fund (LISAX). “The changes the firm implemented will, hopefully, better enable investors to take advantage of opportunities in [the short-term, fixed-income] segment of the bond market and provide them with a more attractive investment option,” said Lord Abbett partner and fixed-income strategist Zane Brown in a statement. The Jersey City, N.J.-based money manager has been managing municipal bonds since the early 1980s and currently oversees roughly $9 billion in tax-free mutual funds and separately managed accounts. The charges were reduced as of April 3.

Latest News

SEC bars ex-broker who sold clients phony private equity fund
SEC bars ex-broker who sold clients phony private equity fund

Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.

The key to attracting and retaining the next generation of advisors? Client-focused training
The key to attracting and retaining the next generation of advisors? Client-focused training

From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

SEC to weigh ‘innovation exception’ tied to crypto, Atkins says
SEC to weigh ‘innovation exception’ tied to crypto, Atkins says

Chair also praised the passage of stablecoin legislation this week.

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.