Lord Abbett to launch Emerging Markets Local Bond Fund in May

By Toni Weeks

San Luis Obispo, Calif., Feb. 13 - Lord Abbett Global Fund, Inc. announced in an N-1A filing with the Securities and Exchange Commission its plans to launch a new emerging markets fund.

The Lord Abbett Emerging Markets Local Bond Fund will seek total return by investing, under normal market conditions, at least 80% of its net assets in emerging market debt securities or debt-related investments. A substantial portion of the investments will be securities denominated in foreign currencies, and the fund may invest up to 100% of its assets in high-yield securities.

Leah G. Traub, Jerald M. Lanzotti and David B. Ritt will comprise the portfolio management team.

The fund will launch in May with class A, class C, class F, class I, class R2 and class R3 shares. Ticker symbols have not yet been determined.

Class A shares will be subject to a 2.25% maximum sales charge, and class C shares will be subject to a 1% maximum deferred sales charge.

Management fees will run 0.7%. Including other expenses and taking into account a fee waiver agreement with the adviser, total annual fund operating expenses are expected to be 1.05% for class A, 1.85% for class C, 0.95% for class F, 0.85% for class I, 1.45% for class R2 and 1.35% for class R3 shares. The fee waiver agreement expires April 30, 2014.

Jersey City-based Lord, Abbett & Co. LLC will act as the fund's investment adviser.

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