Lord Abbett & Co. recently introduced a mutual fund that focuses on fixed-income opportunities around the world.

Launched last month, the Lord Abbett Securities Trust World Bond- Debenture Series will invest in bonds of different investment grades from Canada, Europe, Latin America, the Pacific Rim, and Africa, as well as the United States.

The fund includes high-yielding corporate debt, emerging market debt, sovereign backed bonds, and some high-grade debt, said Christopher J. Towle, one of the managers for the new portfolio.

Mr. Towle said the fund will always maintain at least 20% of investment- grade securities "to moderate the level of risk."

The fund is an international version of the Boston firm's Lord Abbett Bond-Debenture fund, which invests in U.S. bonds. Mr. Towle is also part of the management team for that portfolio, which was kicked off in 1971 and now boasts some $3.25 billion of assets under management.

Lord Abbett has $27 billion of assets under management, including 30 funds that it sells through brokerages, investment advisers, and some banks.

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