SUPPLEMENT TO THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 1998 FOR THE
LORD ABBETT GLOBAL FUND, INC.
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SUPPLEMENT EFFECTIVE DATE: JUNE 8, 1998
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FUND
FACTS
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Lord Abbett
Global Fund
Income Series
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A globally-diversified mutual fund seeking high current income
[LOGO](R)
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Lord Abbett Global Fund -- Income Series
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INVESTMENT OBJECTIVE: Lord Abbett Global Fund - Income Series is a mutual fund
designed to provide current income using high-quality bonds from around the
world.
How the Series(1) Compares Against Inflation:
Growth of $10,000: 9/30/88(2) - 12/31/97
LORD ABBETT GLOBAL FUND-INCOME SERIES INFLATION (CONSUMER PRICE
INDEX)
9/30/98 9525 10000
1988 9659 10058
1989 11950 11169
1990 13662 11511
1991 14449 11845
1992 16007 12170
1993 15463 12496
1994 18224 12813
1995 19339 13239
1996 20158 13464
Lord Abbett Global Fund - Income Series $20,158
Inflation (Consumer Price Index) $13,464
The Income Series' Average Annual Rate of Total Return Since Inception: 7.9%
(1) Total return is the percent change in value, assuming the reinvestment of
all distributions. The maximum sales charge of 4.75%, applicable to Class
A share investments under $100,000, has been deducted from the Series
investment. The Series issues additional classes of shares with distinct
pricing options. For a full discussion of the differences in pricing
alternatives, please call 800-874-3733 and ask for the Fund's current
prospectus.
(2) The Series commenced operations 9/30/88.
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AVERAGE ANNUAL RETURNS:
Average annual compounded returns at the Class A share maximum 4.75% sales
charge for periods ending 12/31/97:
1 year 5 years Life of Series
-0.70% +5.85% +7.87%
SEC yield for the 30 days ended 12/31/97 was 4.13%.
Past performance is not an indication of future results. The investment return
and principal value of an investment in the Series will fluctuate so that
shares, on any given day or when redeemed, may be worth more or less than their
original cost.
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The Fund's Investor Advantage
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o One portfolio that combines high-quality foreign and domestic bonds;
o The opportunity to increase potential returns, as well as the added
benefit of a diversified portfolio;
o The investment management skills of Lord Abbett's staff of global bond
specialists.
Minimum Initial Investment:
$1,000; $250 for IRAs
Quotron Symbols:
A Shares - LAGIX
B Shares - LAIBX*
C Shares - GBLAX
* Proposed.
Monthly Dividends:
May be taken in cash or reinvested in additional shares at net asset value.
The Fund's Investment Strategy
Our team of fixed-income professionals (who average 13 years of industry
experience) works to identify good value relative to risk by:
o Analyzing economic factors, such as currency fluctuations, inflation and
interest-rate trends in the world's major bond markets;
o Performing extensive research in an effort to uncover undervalued
securities poised to perform well in the environment we anticipate;
o Monitoring individual market movements and assessing their impact in the
global arena.
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The Fund's Manager
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"Many factors contribute to successful global money management: solid research,
access to timely information and a firm grasp of individual country dynamics."
The Series utilizes a team to manage the Income Series. The team is led by Zane
E. Brown, Partner and Director of Fixed Income. Mr. Brown has over 22 years of
experience managing bonds.
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Zane E. Brown
Partner and Director of Fixed Income
The Fund's Performance
Lord Abbett Global Fund - Income Series' performance matched Morningstar's
Average of World Bond Funds for the 5 years ending December 31, 1997:
Average Annual Total Returns
[The following table was depicted as a bar chart in the printed material.]
Lord Abbett Global Fund -
Income Series(3) 6.9%
Morningstar Average of
World Bond Funds 6.9%
Value Line Mutual Fund Survey says: "(The Fund's) good yield coupled with its
low volatility make this offering appropriate for conservative investors seeking
income from foreign markets."(4)
(3) Fund performance is at net asset value for Class A shares. For performance
at the maximum 4.75% sales charge applicable to Class A share investments,
see Average Annual Returns.
(4) September 16, 1997 issue.
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Portfolio Profile
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When you invest in the Series, you become an owner of a diversified portfolio
that invests in bonds throughout the world. Below is a snapshot of the
portfolio+ as of 12/31/97:
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Country Diversification
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[The following table was depicted as a pie chart in the printed material.]
United States .................50.2%
Canada ........................ 2.2%
Europe ........................45.4%
Pacific Rim ................... 2.2%
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Quality
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[The following table was depicted as a pie chart in the printed material.]
AAA ...........................93.6%
AA ............................ 1.9%
BBB ........................... 4.5%
+ Figures are unaudited.
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The Fund's Investment Manager
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LORD, ABBETT & CO.
o Experienced Management
Founded in 1929, Lord, Abbett & Co. was one of the nation's first mutual
fund managers. Lord Abbett manages over $25 billion in a family of mutual
funds and separately-managed accounts.
o A Complete Family
The Lord Abbett Family of Funds consists of 28 mutual funds.
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Foreign investment risk factors include the potential for less regulation and
liquidity and more volatility than U.S. markets; currency fluctuation;
potentially less publicly-available information about companies, banks and
governments than for U.S. counterparts; lack of uniform accounting standards
among countries, impairing comparisons; potentially higher transaction costs and
different securities settlement practices. Series shares are neither insured nor
guaranteed by any government or government agency. The Series purchases short-
and intermediate-term high-coupon securities at a premium and distributes to
shareholders all of the interest income on those securities without amortizing
the premiums. This practice is consistent with applicable tax regulations and
generally accepted accounting principles, but may result in a decrease in the
net asset value of shares of the Series as the market value of the premium
securities decreases over time. For more complete information about any Lord
Abbett mutual fund, such as Lord Abbett Global Fund - Income Series, including
charges and expenses, call your investment professional or Lord Abbett
Distributor llc at 800-874-3733 for a prospectus. An investor should read the
prospectus carefully before investing. If used after 3/31/98, this piece must be
accompanied by Lord Abbett's Performance Quarterly for the most recently
completed calendar quarter.
Numbers to Keep Handy
For Shareholder Account
or Statement Inquiries: 800-821-5129
For Literature: 800-874-3733
For More Information: 800-426-1130
Visit Our Web Site: http://www.lordabbett.com
[LOGO](R) LORD, ABBETT & CO.
Investment Management
A Tradition of Performance Through Disciplined Investing
LORD ABBETT DISTRIBUTOR LLC
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The GM Building o 767 Fifth Avenue o New York, NY 10153-0203 o 800-426-1130
LAG-121-1297
(2/98)
