New York-based Lord, Abbett & Co. is reopening its Lord Abbett Research Fund - Small-Cap Value Series to new investors. It could be hard to attract those new investors as the market continues to avoid small-cap and value investments, although market pundits have expressed more confidence lately in the opportunities that the narrow focus on large-cap has created in the small-cap sector.

The fund, which reopened to new investors on June 21, has commitments of approximately $50 million, according to the company. The fund's assets stood at $452 million at the end of May, down from $577 million at the time of closure, in April 1998.

"We believe that conditions in the small-cap value market have created more capacity, as well as exciting opportunities for us," said Robert P. Fetch, partner and senior portfolio manager of Lord Abbett Research Fund. "We typically invest in small capitalization companies that have long operating histories, large insider ownership, management depth, and have been historically profitable."

Founded in 1929, Lord, Abbett & Co. currently manages over $32 billion in assets through separately managed portfolios, mutual funds, variable annuities and wrap programs. The Lord Abbett family of mutual funds consists of 35 funds. 

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