Effective September 1, Robert Lee no longer serves as chief investment officer at Lord Abbett as the firm has eliminated that position. Lee recently returned to portfolio-management duties as part of reforms led by managing partner Doug Sieg to get the firm’s top personnel refocused on investing. The move officially recognizes Lee’s return to managing money full time. The news does not affect any of his management responsibilities. He’ll join Steven Rocco as co-head of the firm’s taxable fixed-income division.
Lord Abbett Bond-Debenture A LBNDX
NAV / 1-Day Return
8.45
/
0.46
%
Total Assets
21.8 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.790%
Expense Ratio
0.790%
Fee Level
Low
Longest Manager Tenure
7.17
years
Category
Multisector Bond
Credit Quality / Interest Rate Sensitivity
Low / ModerateMin. Initial Investment
1,000
Status
Open
TTM Yield
3.60%
Effective Duration
4.93
years
Premium
Morningstar’s Analysis
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The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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Lord Abbett Eliminates CIO Role, Promotes New Director of Equities; Ratings Unchanged
