Lord Abbett Floating Rate Fund updates portfolio management team

By Toni Weeks

San Luis Obispo, Calif., Oct. 28 - Lord Abbett Investment Trust updated the portfolio managers for its Lord Abbett Floating Rate Fund in a 497 filing with the Securities and Exchange Commission.

Jeffrey D. Lapin heads the fund's portfolio management team. Robert A. Lee and Christopher J. Towle are also members of the team.

The fund seeks a high level of current income by investing at least 80% of its net assets in floating- or adjustable-rate senior loans.

Jersey City-based Lord Abbett & Co. LLC is the investment adviser to the fund.

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