Lord Abbett
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| Headquarters | Jersey City, New Jersey., United States |
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| Website | http://www.lordabbett.com |
Lord Abbett is an asset management firm located in Jersey City, New Jersey. The firm, established in 1929, has long been a haven for conservative investors in times of market turmoil. It reached its peak of $120 billion under management in 2007, but due largely to the recent economic slowdown, the firm has seen its assets reduced to around $60 billion, approximately half its former level. In addition, as recently reported by Reuters and on the National Underwriter web site, the firm has divested some of its more successful components, notably their 401(k) plans, in an attempt to right itself.
Their 401k business will be taken over by The Hartford of Hartford, CT.
Asset figures were taken from Lord Abbett's web site.
[edit] References
- Siew, Walden (December 13, 2006). "Lord Abbett ramps up team for debt war". Reuters. http://www.reuters.com/article/idUSN1344849720061213. Retrieved December 8, 2009.
