The independent US investment manager says it launched the passport portfolios to allow non-US institutions and non-US resident investors to take advantage of Lord Abbett’s investment strategies.
The suite of UCITS funds consists of the Lord Abbett Short Duration Income Fund, Lord Abbett Strategic Income Fund and the Lord Abbett High Yield Fund.
According to Stephen Hillebrecht, fixed income product strategist at Lord Abbett: “The launch of these products presents an opportunity for a wide range of investors outside the US, especially in Europe and the Middle East, to access U.S. fixed income markets at a time when we are seeing attractive income opportunities there.”
The short duration fund will focus on investment grade and high yield short duration mortgage, corporate, government and asset backed securities, the group said.
The strategic income fund will focus primarily on Baa corporate bonds and the high yield fund will target “asset-rich companies with strong management teams”.
All three funds will be managed on a similar basis to their US-registered counterparts Lord Abbett said, while Arbour Partners has been appointed to support distribution of the Passport Portfolios in Europe.
