The Lord Abbett Equity Fund, a ten-year-old insured mutual fund with $55 million in assets, was merged out of existence on May 31, according to a proxy filing May 25. Shareholders voted to merge the Lord Abbett Equity Fund into the Lord Abbett Large Cap Growth Fund, a similar fund, on May 26.

The Lord Abbett Equity Fund was the only fund managed by Lord Abbet & Co. that was insured, said Michael B. McLaughlin, partner and director of marketing with Lord Abbett & Co. which relocated its offices to Jersey City, N.J. in January. The insurance, underwritten by Financial Securities Assurance of New York, was added to guarantee shareholders that their share value would never fall below $10.

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