LORD ABBETT SECURITIES TRUST
485BPOS, 1998-04-14
Previous: GEON CO, 8-K, 1998-04-14
Next: LORD ABBETT SECURITIES TRUST, 497, 1998-04-14



                                                   1933 Act File No. 33-58846
                                                   1940 Act File No. 811-7538



                        SECURITIES & EXCHANGE COMMISSION
                             Washington, D. C. 20549


                                    FORM N-1A


           REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 [X]
                       POST-EFFECTIVE AMENDMENT NO. 21 [X]

           REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT [X]
                                     OF 1940
                              AMENDMENT NO. 21 [X]



                          LORD ABBETT SECURITIES TRUST
                Exact Name of Registrant as Specified in Charter


                     767 Fifth Avenue, New York, N.Y. 10153
                      Address of Principal Executive Office

                  Registrant's Telephone Number (212) 848-1800


                         Thomas F. Konop, Vice President
                     767 Fifth Avenue, New York, N.Y. 10153
                     (Name and Address of Agent for Service)


It is proposed that this filing will become effective (check appropriate box)

   X      immediately on filing pursuant to paragraph (b) of Rule 485

          on (date) pursuant to paragraph (b) of Rule 485


          60 days after filing pursuant to paragraph (a) of Rule 485

          on (date) pursuant to paragraph (a) (i) of Rule 485

          75 days after filing pursuant to paragraph (a) (ii) of Rule 485

          on (date) pursuant to paragraph (a) (ii) of Rule 485

If appropriate, check the following box:

          this  post-effective  amendment  designates a new effective  date 
for a previously  filed  post-effective
          amendment





                          LORD ABBETT SECURITIES TRUST
                                      N-1A
                           Cross Reference Sheet
                         Post-Effective Amendment No.21

This Post-Effective  Amendment No. 21 (the "Amendment") to the Registrant's 
Registration Statement relates only to
filing of exhibits which accompany Post-Effective Amendment No. 20.

The other  series and classes of shares of the  Registrant  are listed below and
are offered by the Prospectus and Statement of Additional Information in Parts A
and  B,  respectively,  of the  Post-Effective  Amendments  to the  Registrant's
Registration  Statement as identified.  The following are separate series and or
classes or shares of the Registrant. This Amendment does not relate to, amend or
otherwise  affect  the  Prospectus  and  Statement  of  Additional   Information
contained in the prior  Post-Effective  Amendments listed below, and pursuant to
Rule 485(d) under the Securities Act of 1933, does not affect the  effectiveness
of such Post-Effective Amendments.

                                                                  POST-EFFECTIVE
                                                                   AMENDMENT NO.

                         Alpha Series - Class A, B, C             17
                        International Series - Class Y            16
                           Growth & Income Series;                20
                           International Series; World
                              Bond-Debenture Series


Form N-1A                              Location In Prospectus or
Item No.                               Statement of Additional Information

1                                      Cover Page
2                                      Fee Table
3                                      Financial Highlights
4 (a) (i)                              Cover Page
4 (a) (ii)I                            Investment Objectives
4 (b) (c)                              How We Invest
5 (a) (b) (c)                          Our Management; Last Page
5 (d)                                  N/A
5 (e)                                  Our Management
5 (f)                                  Our Management
5 (g)                                  Purchases
6 (a)                                  Cover Page
6 (b)  (c) (d)                         N/A
6 (e)                                  Cover Page; Purchases
6 (f)  (g)                             Dividends, Capital Gains
                                       Distributions and Taxes
6 (h)                                  Purchases
7 (a)                                  Back Cover Page
7 (b) (c) (d)                          Purchases
8 (a)  (b) (c) (d)                     Redemptions
                                       Purchases, Redemptions and Shareholder
                                       Services
9                                      N/A
10                                     Cover Page
11                                     Cover Page -- Table of Contents
12                                     N/A
13 (a)  (b) (c) (d)                    Investment Objectives and Policies

14                                     Trustees and Officers
15 (a)  (b) (c)                        Trustees and Officers
16 (a) (i)                             Investment Advisory and Other
                                       Services
16 (a) (ii)                            Trustees and Officers
16 (a) (iii)                           Investment Advisory and Other
                                       Services
16 (b)                                 Investment Advisory and Other Services
16 (c)  (d) (e) (g)                    N/A
16 (f)                                 Purchases, Redemptions and Shareholder 
                                       Services
16 (h)                                 Investment Advisory and Other Services
16 (i)                                 N/A
17 (a)                                 Portfolio Transactions
17 (b)                                 N/A
17 (c)                                 Portfolio Transactions
17 (d) (e)                             N/A
18 (a)                                 Cover Page
18 (b)                                 N/A
19 (a) (b)                             Purchases;   Redemptions  and
                                       Shareholder  Services;   Notes  to 
                                       Financial
                                       Statements



Form N-1A                              Location in Prospectus or
Item No.                               Statement of Additional Information

19 (c)                                 N/A
20                                     Taxes
21 (a)                                 Purchases, Redemptions and Shareholder
                                       Services
21 (b) (c)                             N/A
22                                     N/A
22 (b)                                 Past Performance
23                                     Financial Statements; Supplementary





PART C            OTHER INFORMATION

Item 24.          Financial Statements and Exhibits


                  (b)    Exhibits -
                         99.B11 Unanimous Shareholder's Consent*
                         99.B11 Consent of Deloitte & Touche

                         * Filed Herewith


                         Exhibit items not listed above have either already been
filed or are not applicable.


Item 25.          Persons Controlled by or Under Common Control with Registrant

                  None.


Item 26.          Number of Record Holders of Securities
                  (as of February 20, 1998)

                  Growth & Income Series
                                 Class A - 3,482
                                 Class B -   207
                                 Class C - 4,468

                  International Series

                                 Class A - 4,240
                                 Class B -   918
                                 Class C -   953

Item 27.          Indemnification

                  The Registrant is a Delaware  Business Trust established under
                  Chapter 38 of Title 12 of the Delaware Code. The  Registrant's
                  Declaration and Instrument of Trust at Section 4.3 relating to
                  indemnification  of  Trustees,   officers,   etc.  states  the
                  following.

                  The Trust  shall  indemnify  each of its  Trustees,  officers,
                  employees and agents  (including  any individual who serves at
                  its request as director, officer, partner, trustee or the like
                  of  another  organization  in which it has any  interest  as a
                  shareholder,  creditor or otherwise)  against all  liabilities
                  and  expenses,  including  but not limited to amounts  paid in
                  satisfaction  of  judgments,  in  compromise  or as fines  and
                  penalties,  and counsel fees reasonably incurred by him or her
                  in connection  with the defense or  disposition of any action,
                  suit or other  proceeding,  whether civil or criminal,  before
                  any court or administrative or legislative body in which he or
                  she may be or may have been  involved as a party or  otherwise
                  or with  which he or she may be or may have  been  threatened,
                  while acting as Trustee or as an officer, employee or agent of
                  the Trust or the Trustees,  as the case may be, or thereafter,
                  by reason of his or her being or having  been such a  Trustee,
                  officer,  employee or agent, except with respect to any matter
                  as to which he or she shall have been  adjudicated not to have
                  acted in good faith in the  reasonable  belief that his or her
                  action  was in the best  interests  of the Trust or any Series
                  thereof.  Notwithstanding  anything herein to the contrary, if
                  any matter which is the subject of  indemnification  hereunder
                  relates only to one Series (or to more than one but not all of
                  the Series of the  Trust),  then the  indemnity  shall be paid
                  only out of the assets of the affected  Series.  No individual
                  shall be  indemnified  hereunder  against any liability to the
                  Trust or any Series thereof or the  Shareholders  by reason of
                  willful  misfeasance,  bad faith, gross negligence or reckless
                  disregard of the duties  involved in the conduct of his or her
                  office. In addition,  no such indemnity shall be provided with
                  respect  to  any  matter   disposed  of  by  settlement  or  a
                  compromise  payment  by such  Trustee,  officer,  employee  or
                  agent,  pursuant to a consent decree or otherwise,  either for
                  said payment or for any other expenses unless there has been a
                  determination that such compromise is in the best interests of
                  the Trust or, if  appropriate,  of any affected Series thereof
                  and that such  Person  appears  to have acted in good faith in
                  the  reasonable  belief that his or her action was in the best
                  interests  of the Trust or, if  appropriate,  of any  affected
                  Series thereof, and did not engage in willful misfeasance, bad
                  faith,  gross  negligence or reckless  disregard of the duties
                  involved   in  the   conduct  of  his  or  her   office.   All
                  determinations  that the applicable  standards of conduct have
                  been met for indemnification  hereunder shall be made by (a) a
                  majority vote of a quorum consisting of disinterested Trustees
                  who  are  not   parties   to  the   proceeding   relating   to
                  indemnification, or (b) if such a quorum is not obtainable or,
                  even if  obtainable,  if a  majority  vote of such  quorum  so
                  directs, by independent legal counsel in a written opinion, or
                  (c) a vote of Shareholders  (excluding  Shares owned of record
                  or beneficially  by such  individual).  In addition,  unless a
                  matter is  disposed of with a court  determination  (i) on the
                  merits that such Trustee,  officer,  employee or agent was not
                  liable or (ii)  that such  Person  was not  guilty of  willful
                  misfeasance, bad faith, gross negligence or reckless disregard
                  of the duties involved in the conduct of his or her office, no
                  indemnification  shall be provided  hereunder unless there has
                  been a determination by independent legal counsel in a written
                  opinion   that  such   Person   did  not   engage  in  willful
                  misfeasance, bad faith, gross negligence or reckless disregard
                  of the duties involved in the conduct of his or her office.

                  The Trustees  may make  advance  payments out of the assets of
                  the  Trust  or,  if  appropriate,  of the  affected  Series in
                  connection  with the  expense of  defending  any  action  with
                  respect to which  indemnification  might be sought  under this
                  Section 4.3. The  indemnified  Trustee,  officer,  employee or
                  agent shall give a written  undertaking to reimburse the Trust
                  or the Series in the event it is subsequently  determined that
                  he or she is not entitled to such  indemnification and (a) the
                  indemnified Trustee,  officer, employee or agent shall provide
                  security  for his or her  undertaking,  (b) the Trust shall be
                  insured  against losses arising by reason of lawful  advances,
                  or (c) a majority of a quorum of disinterested  Trustees or an
                  independent   legal   counsel  in  a  written   opinion  shall
                  determine,  based on a review of readily  available  facts (as
                  opposed to a full trial-type inquiry), that there is reason to
                  believe that the indemnitee  ultimately will be found entitled
                  to  indemnification.  The  rights  accruing  to  any  Trustee,
                  officer,  employee or agent under these  provisions  shall not
                  exclude  any  other  right to which he or she may be  lawfully
                  entitled  and shall  inure to the benefit of his or her heirs,
                  executors, administrators or other legal representatives.

                  Insofar as  indemnification  for  liability  arising under the
                  Securities Act of 1933 may be permitted to Trustees,  officers
                  and  controlling  persons of the  Registrant  pursuant  to the
                  foregoing  provisions,  or otherwise,  the Registrant has been
                  advised  that in the opinion of the  Securities  and  Exchange
                  Commission  such  indemnification  is against public policy as
                  expressed in the Act and is, therefore,  unenforceable. In the
                  event   that  a  claim  for   indemnification   against   such
                  liabilities  (other  than the  payment  by the  Registrant  of
                  expense incurred or paid by a Trustee,  officer or controlling
                  person of the  Registrant  in the  successful  defense  of any
                  action,  suit or  proceeding)  is  asserted  by such  Trustee,
                  officer  or   controlling   person  in  connection   with  the
                  securities being  registered,  the Registrant will,  unless in
                  the  opinion of its  counsel  the  matter has been  settled by
                  controlling  precedent,  submit  to  a  court  of  appropriate
                  jurisdiction the question whether such  indemnification  by it
                  is against  public  policy as expressed in the Act and will be
                  governed by the final adjudication of such issue.

Item 28.          Business and Other Connections of Investment Adviser

                  Lord, Abbett & Co. acts as investment manager and/or principal
                  underwriter for twelve other Lord Abbett  open-end  investment
                  companies (of which it is principal underwriter for thirteen),
                  and as  investment  adviser  to  approximately  6,220  private
                  accounts  as of  December  31,  1997.  Other  than  acting  as
                  Trustees  (directors)  and/or officers of open-end  investment
                  companies  managed by Lord, Abbett & Co., none of Lord, Abbett
                  & Co.'s partners has, in the past two fiscal years, engaged in
                  any other  business,  profession,  vocation or employment of a
                  substantial  nature for his own account or in the  capacity of
                  director,  officer, employee, partner or trustee of any entity
                  except as follows:

                  John J. Walsh
                  Trustee
                  Brooklyn Hospital
                  Parkside Avenue
                  Brooklyn, N.Y.

Item 29.          Principal Underwriter

                  (a)      Lord Abbett Affiliated Fund, Inc.
                           Lord Abbett Bond-Debenture Fund, Inc.
                           Lord Abbett Mid-Cap Value Fund, Inc.
                           Lord Abbett Developing Growth Fund, Inc.
                           Lord Abbett Tax-Free Income Fund, Inc.
                           Lord Abbett Government Securities Money Market Fund
                           Inc.
                           Lord Abbett Tax-Free Income Trust
                           Lord Abbett Global Fund, Inc.
                           Lord Abbett Equity Fund
                           Lord Abbett Series Fund, Inc.
                           Lord Abbett Research Fund, Inc.
                           Lord Abbett Investment Trust

                  Investment Adviser
                           American Skandia Trust (Lord Abbett Growth and
                           Income Portfolio)

                  (b) The partners of Lord, Abbett & Co. are:

                           Name and Principal             Positions and Offices
                           Business Address (1)               with Registrant

                           Robert S. Dow Chairman and President
                           Paul A. Hilstad           Vice President & Secretary
                           Stephen I. Allen                   Vice President
                           Zane E. Brown Vice President
                           Daniel E. Carper                   Vice President
                           Daria L. Foster                    Vice President
                           Robert G. Morris                   Vice President
                           Robert J. Noelke                   Vice President
                           E. Wayne Nordberg                  Vice President
                           John J. Walsh Vice President

                  The other general  partners of Lord,  Abbett & Co. who are 
neither  officers nor directors of the
Registrant are W. Thomas Hudson and Michael McLaughlin.

                  (1)      Each of the above has a principal  business 
 address at 767 Fifth  Avenue,  New York, NY
                           10153

                  (c)      Not applicable

Item 30.          Location of Accounts and Records

                  Registrant  maintains  the  records,  required by Rules 31a - 
1(a) and (b), and 31a - 2(a) at its
                  main office.

                  Lord,  Abbett &  Co. maintains  the  records  required  by 
Rules 31a - 1(f) and 31a - 2(e) at its
                  main office.

                  Certain  records  such  as  correspondence  may be  physically
                  maintained  at the main  office of the  Registrant's  Transfer
                  Agent,  Custodian,  or Shareholder  Servicing Agent within the
                  requirements of Rule 31a-3.

Item 31.          Management Services

                  None.

Item 32.          Undertakings

                  The  Registrant  undertakes  to furnish  each person to whom a
                  prospectus is delivered with a copy of the Registrant's latest
                  annual  report  to  shareholders,  upon  request  and  without
                  charge.

                  The  Registrant  undertakes,  if  requested  to do  so by  the
                  holders  of at  least  10%  of  the  Registrant's  outstanding
                  shares,  to call a meeting of shareholders  for the purpose of
                  voting upon the question of removal of a director or directors
                  and to assist in  communications  with other  shareholders  as
                  required by Section 16(c).




                         UNANIMOUS SHAREHOLDER'S CONSENT



         The UNDERSIGNED being the record and beneficial owners of all shares of
the outstanding capital stock of the World Bond-Debenture  Series of Lord Abbett
Securities Trust ("the Fund"),  does hereby consent to the taking of the actions
set forth below without a shareholders meeting in accordance with the provisions
of Section 5.13 of the  Declaration  and Agreement of Trust,  as amended to this
date.

         1.       Approval of the Addendum to the Management  Agreement  between
                  the Fund (on behalf of the Series)  and Lord,  Abbett & Co. in
                  the form attached hereto increasing the management fee to 0.75
                  of 1%.




DST Systems, Inc.                                    Lord, Abbett & Co.


By   /s/DST                                                   /s/Robert S. Dow
                                                              Robert S. Dow
                                                              Managing Partner



The Lord, Abbett & Co.
Profit Sharing Plan



BY: /s/Robert S. Dow                                  /s/ Zane E. Brown
Trustee of The Lord, Abbett & Co.                    Zane E. Brown
Profit Sharing Plan


Dated:  March  19, 1998



CONSENT OF INDEPENDENT AUDITORS


Lord Abbett Securities Trust:

We consent to the incorporation by reference in Post-Effective  Amendment No. 20
to  Registration  Statement  No.  33-58846  our report  dated  December  2, 1997
appearing in the annual report to shareholders  and to the reference to us under
the caption "Financial Highlights" in the Prospectus and to the references to us
under the captions  "Investment  Advisory  and Other  Services"  and  "Financial
Statements" in the Statement of Additional  Information,  both of which are part
of such Registration Statement.




DELOITTE & TOUCHE LLP

New York, New York
March 27, 1998




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission