Lord, Abbett has reduced the net expense ratios on two of its international funds by 31 and 23 basis points, bringing the Class A charges both the $949 million Lord, Abbett International Core Equity Fund and the $325 million Lord, Abbett International Dividend Fund to 1.12%. The two funds are now lower than the averages in both their Morningstar and Lipper peer groups.
Lord, Abbett decided to lower the fees in light of the strong returns and dividends international funds delivered in 2009 and their increasing popularity as a source of diversification among investors.
“Today, more than half of the world’s market cap and almost three times the number of public companies are outside the United States,” said Mike Weldon, director of marketing and a partner at Lord, Abbett. “Yet, few investors are aware of this breadth and, as a result, typically allocate less than 20% of their portfolios to international markets.”