The Lord Abbett Small Cap Blend Fund (LSBAX) will close to most new investors at the end of this month to keep its asset growth under control.
The fund will remain open to new investors through certain retirement and benefit plans and those who purchase shares through certain financial intermediaries, Lord Abbett said in a regulatory filing on Tuesday.
The $1.15- billion fund was up 12.9% last year, compared to a 6.1% gain by its small-cap blend fund peers. Lord Abbett Small Cap Blend returned 27.6% on average for the three years ended in December, while similar funds rose 21.1%.
The fund is ranked 5-stars by Standard & Poor’s.
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