Lord Abbett Large Cap Value Fund board approves reorganization plan

By Tali David

Minneapolis, March 1 - Lord Abbett Securities Trust announced that the board of the Lord Abbett Large Cap Value Fund approved a proposal to combine the fund into the Lord Abbett Fundamental Equity Fund, according to a 497 filed with the Securities and Exchange Commission.

Like the Large Cap Value Fund, the Fundamental Equity Fund pursues capital appreciation and income by investing in a portfolio of undervalued equity securities.

The main difference between the two is that the Large Cap Value Fund invests mainly in large cap equity securities while the Fundamental Equity Fund invests in large, mid, and small cap equity securities.

The board said it believes that the reorganization offers many potential advantages that should benefit shareholders over the long term, including the opportunity to continue to invest in a fund with similar investment characteristics, but as part of a larger fund with greater investment flexibility and lower overall expenses, according to the filing.

The reorganization is subject to the approval of the Large Cap Value Fund's shareholders at a meeting scheduled for May 18.

The fund's adviser is Jersey City, N.J.-based Lord, Abbet & Co. LLC.

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