Lord Abbett Names Five New Partners

JERSEY CITY, N.J., Oct. 6, 2011 /PRNewswire/ -- Lord, Abbett & Co. LLC ("Lord Abbett"), an independent, privately held investment management firm, today announced the appointment of five new Partners. As one of the oldest money management firms in the United States, Lord Abbett has been managing equity and fixed-income products for more than 80 years, and currently manages more than $100 billion (as of September 30, 2011) across a full range of mutual funds, institutional, and individually managed accounts.  

Over the last several years, the firm has taken a number of steps to consistently deliver a quality investment experience, strategically broaden distribution, properly manage and position the firm's products, and thoughtfully evaluate the organization's business strategy. As part of this ongoing effort, the firm is pleased to recognize several individuals for their significant involvement and participation in advancing these objectives.

"We recognize these individuals for their contribution toward their respective areas of expertise," said Daria L. Foster, Lord Abbett Managing Partner.  "As Partners, their leadership will help guide the strategic growth of the firm and contribute toward our legacy as stewards of our clients' assets."

2011 Lord Abbett Partner Appointments:

• Stacia Ikpe—Client Portfolio Manager, Institutional Investment Services
• Deepak Khanna—Portfolio Manager, Investments
• John McMillin—Associate Director of Domestic Equity Research, Investments
• Tom Phillips—Deputy General Counsel, Legal
• Steven Rocco—Portfolio Manager, Investments

Stacia Ikpe joined Lord Abbett in 2006, and has more than 20 years of industry experience.  As a Client Portfolio Manager, Stacia supports Lord Abbett's small cap core, smid cap value, and micro cap value investment strategies.  Mike Grant, Partner & Director of Institutional Investment Services Group, noted, "During this difficult market environment, our clients and consultant partners value client service more than ever.  This is a great way to acknowledge Stacia's accomplishments and future contributions to the firm."  

Deepak Khanna, who has more than 15 years of industry experience, is a Portfolio Manager for the firm's multi cap and large cap value strategies.  "Deepak has established a track record as both an insightful equity research analyst and talented portfolio manager," said Robert P. Fetch, Partner & Director of Domestic Equity Investments.  "We are pleased to be able to recognize his role in the future of the firm's domestic equity investment strategies."

John McMillin joined Lord Abbett in 2007 and has more than 30 years of industry experience.  As the Associate Director of Domestic Equity Research, John plays a key role supporting the firm's U.S. large and mid cap equity research efforts. "John's industry experience provides valuable insights and leadership to the equity research team, which is especially important as we continue to expand this growing area of the firm," said Rick Ruvkun, Partner & Director of Domestic Research.

Tom Phillips joined Lord Abbett in 2006 and has played an integral role providing legal support and guidance for the firm's distribution efforts during an extremely difficult and increasingly complex regulatory environment.  "Tom has brought a thorough and disciplined approach to the complex legal landscape surrounding the investment management industry," said Larry Kaplan, Partner & General Counsel. "By recognizing Tom, the firm is acknowledging the importance of the role he plays for our firm, our clients, and our business partners."  

Steven Rocco joined the firm in 2004 and has more than 10 years of fixed-income industry experience.  He was recently named Portfolio Manager for Lord Abbett's high-yield investment strategy.  "Steven has been a valuable member of our taxable fixed-income investment teams," said Robert I. Gerber, Partner & Chief Investment Officer. "His role as Portfolio Manager has deepened our high-yield strategy resources and solidified our ability to grow for the future."

"We are pleased to name these new Partners for their valuable contributions to Lord Abbett," added Robert S. Dow, Lord Abbett Senior Partner. "As we have often said, the firm's ownership structure reinforces our belief that remaining independent is a strategic advantage that allows us to maintain our singular focus on the management of money."

For more information on Lord Abbett, please visit www.lordabbett.com.

About Lord Abbett

Lord, Abbett & Co. LLC is an independent, privately held firm with a singular focus on the management of money. As one of the oldest money management firms in the United States, Lord Abbett has consistently provided generations of clients and their financial advisors with a quality investment experience since 1929. Lord Abbett manages approximately $100 billion in assets (as of September 30, 2011) across a full range of mutual funds, institutional and separately managed accounts, including $3.1 billion for which Lord Abbett provides investment models to managed account sponsors.

The value of investments in equity securities will fluctuate in response to general economic conditions and to changes in the prospects of particular companies and/or sectors in the economy. The value of investments in fixed-income securities will change as interest rates fluctuate. As interest rates fall, the prices of debt securities tend to rise, and as interest rates rise, the prices of debt securities tend to fall. No investing strategy can overcome all market volatility or guarantee future results

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Lord Abbett Funds. This and other important information is contained in a fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388, or visit us at www.lordabbett.com. Read the prospectus carefully before investing.

Lord Abbett mutual fund shares are distributed by Lord Abbett Distributor LLC.

Shares of Lord Abbett mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, and are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of principal amount invested.

SOURCE Lord, Abbett & Co. LLC