<Page>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act File Number 811-05476
LORD ABBETT GLOBAL FUND, INC.
-----------------------------
(Exact name of registrant as specified in charter)
90 Hudson Street, Jersey City, NJ 07302
---------------------------------------
(Address of principal executive offices) (zip code)
Christina T. Simmons, Vice President & Assistant Secretary
90 Hudson Street, Jersey City, NJ 07302
---------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 201-6984
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Date of fiscal year end: 12/31
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Date of reporting period: 6/30/04
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ITEM 1: REPORT TO SHAREHOLDERS.
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[LORD ABBETT LOGO]
2004
SEMI-
ANNUAL
REPORT
LORD ABBETT
GLOBAL EQUITY FUND
GLOBAL INCOME FUND
FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2004
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LORD ABBETT GLOBAL FUND
SEMI-ANNUAL REPORT
FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2004
DEAR SHAREHOLDERS: We are pleased to provide you with this overview of the Lord
Abbett Global Funds' (Lord Abbett Global Equity Fund and Lord Abbett Global
Income Fund) strategies and performance for the period ended June 30, 2004. On
this and the following pages, we discuss the major factors that influenced
performance.
Thank you for investing in Lord Abbett Mutual Funds. We value the trust
that you place in us and look forward to serving your investment needs in the
years to come.
BEST REGARDS,
/s/ Robert S. Dow
ROBERT S. DOW
CHAIRMAN
- --------------------------------------------------------------------------------
LORD ABBETT GLOBAL
EQUITY FUND
Q. WHAT WERE THE OVERALL MARKET CONDITIONS OF THE REPORTING PERIOD?
A. Developed market equities were generally flat to slightly positive in the
first half of the period, reflecting strong economic data in the U.S. and mixed
reports in Europe. The equity market of Japan was among the top performers,
particularly in financials, property companies and retailers, as Japanese
consumers led a long-awaited revival in the economy.
Caution prevailed over the second half, as terrorist bombings in Madrid, the
reality of higher U.S. interest rates and a government-engineered economic
slowdown in China took hold. Developed market equities significantly
outperformed higher-risk emerging market equities over the second half. A
growing emphasis on strong fundamentals caused investors to drive up prices in
large-cap value companies, particularly large defensive European companies and
those with high dividend yields and free cash flow.
The U.S. economy grew robustly in the second half, but the economy's
performance was not reflected in U.S. equity prices, which were roughly flat.
Market sentiment focused less on fundamentals than on uncertainties surrounding
the impending interest rate hikes, the war in Iraq, the upcoming election and
record-high energy prices.
In the MCSI World Index, consumer staples, industrials and utilities were
among the best performing sectors in U.S. dollar terms for the period. The
weakest sectors were telecommunication services and materials.
Q. HOW DID THE FUND PERFORM OVER THE SIX-MONTH PERIOD ENDED JUNE 30, 2004?
A. For the six-month period ended June 30, 2004, the Fund returned 1.8%,
reflecting performance at the Net Asset Value (NAV)
1
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of Class A shares with all distributions reinvested, compared with its
benchmark, the MSCI World Index,(1) which returned 3.8% over the same period.
Standardized Average Annual Total Returns, which reflect performance at the
maximum 5.75% sales charge applicable to Class A share investments and include
the reinvestment of all distributions are 1 Year: 7.29%, 5 Years: -1.24% and 10
Years: 2.47%.
PERFORMANCE DATA QUOTED REFLECT PAST PERFORMANCE AND ARE NO GUARANTEE OF FUTURE
RESULTS. CURRENT PERFORMANCE MAY BE HIGHER OR LOWER THAN THE PERFORMANCE QUOTED.
THE INVESTMENT RETURN AND PRINCIPAL VALUE OF AN INVESTMENT IN THE FUND WILL
FLUCTUATE SO THAT SHARES, ON ANY GIVEN DAY OR WHEN REDEEMED, MAY BE WORTH MORE
OR LESS THAN THEIR ORIGINAL COST. YOU CAN OBTAIN PERFORMANCE DATA CURRENT TO THE
MOST RECENT MONTH END BY CALLING LORD ABBETT AT 800-821-5129 OR REFERRING TO OUR
WEBSITE AT www.LordAbbett.com.
Q. WHAT WERE THE MOST SIGNIFICANT FACTORS AFFECTING PERFORMANCE?
A. Stock selection within the consumer discretionary sector detracted from the
Fund's performance relative to its benchmark, largely reflecting the portfolio's
exposure to U.S.-based media companies, which continued to struggle with a
number of regulatory issues throughout the period. Stock selection within the
industrials and materials sector also detracted from performance. Rising energy
prices pushed operating costs higher in many producers of basic materials. In
addition, shares of a U.S.-based mining company sank as the price of gold
declined from its recent peak.
The Fund outperformed its benchmark within the consumer staples sector,
reflecting favorable stock selection in companies with strong global sales.
Stock selection and an overweight position also led to relative outperformance
within the telecommunications services sector as the portfolio benefited from
positions in companies supplying services to China and other growing markets.
THE FUND'S PORTFOLIO IS ACTIVELY MANAGED AND, THEREFORE, ITS HOLDINGS AND
WEIGHTINGS OF A PARTICULAR ISSUER OR PARTICULAR SECTOR AS A PERCENTAGE OF
PORTFOLIO ASSETS ARE SUBJECT TO CHANGE. SECTORS MAY INCLUDE MANY INDUSTRIES.
LORD ABBETT GLOBAL INCOME FUND
Q. WHAT WERE THE OVERALL MARKET CONDITIONS OF THE REPORTING PERIOD?
A. With the global economy on a path to recovery, and nascent signs of
inflation, there was little doubt that central banks around the world would
begin to take back some of the excess liquidity in the marketplace. The Bank of
England, which had taken the first move with a rate hike in October 2003, raised
its key rate for the fourth time in June 2004 to 4.5%. The
2
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Reserve Bank of Australia, the Swiss National Bank and, most recently, the U.S.
Federal Reserve Board (the Fed) also began "measured" increases--the Fed moving
its fed funds rate from a historical low of 1% to 1.25% on June 30.
Anticipating the global shift in monetary policy, longer-term government
bond yields in the major financial centers rose in the second quarter, after
hitting a trough in March following the bombings in Madrid. In the euro area,
where economic progress remains mixed and the markets do not anticipate rate
hikes until possibly the first quarter of 2005, the pressure on long-term bond
yields was less.
Despite generally improving credit fundamentals in most emerging markets,
particularly in Eastern Europe, demand for emerging market bonds declined as
investors grew more cautious, given expectations of higher interest rates and
lower liquidity in these markets.
The U.S. dollar managed to gain against other major currencies during the
second quarter of 2004 on strong economic reports in the United States and the
anticipation of higher U.S. interest rates. Despite the spike in dollar value,
the dollar ended the quarter close to where it began against the euro and other
competitors.
Q. HOW DID THE FUND PERFORM OVER THE SIX-MONTH PERIOD ENDED JUNE 30, 2004?
A. For the six-month period ended June 30, 2004, the Fund returned -1.6%,
reflecting performance at the Net Asset Value (NAV) of Class A shares with all
distributions reinvested, compared with its benchmark, the Lehman Brothers
Global Aggregate Index,(2) which returned -0.9% over the same period.
Standardized Average Annual Total Returns, which reflect performance at the
maximum 4.75% sales charge applicable to Class A share investments and include
the reinvestment of all distributions are 1 Year: -1.24%, 5 Years: 3.99% and 10
Years: 5.07%.
PERFORMANCE DATA QUOTED REFLECT PAST PERFORMANCE AND ARE NO GUARANTEE OF FUTURE
RESULTS. CURRENT PERFORMANCE MAY BE HIGHER OR LOWER THAN THE PERFORMANCE QUOTED.
THE INVESTMENT RETURN AND PRINCIPAL VALUE OF AN INVESTMENT IN THE FUND WILL
FLUCTUATE SO THAT SHARES, ON ANY GIVEN DAY OR WHEN REDEEMED, MAY BE WORTH MORE
OR LESS THAN THEIR ORIGINAL COST. YOU CAN OBTAIN PERFORMANCE DATA CURRENT TO THE
MOST RECENT MONTH END BY CALLING LORD ABBETT AT 800-821-5129 OR REFERRING TO OUR
WEBSITE AT www.LordAbbett.com.
3
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Q. WHAT WERE THE MOST SIGNIFICANT FACTORS AFFECTING PERFORMANCE?
A. For the most part, the portfolio remained neutral to its index in the
period--with only small underweights or overweights in most sectors. This was
particularly the case in currencies, where expectations of investment
opportunity were modest. Most importantly, the portfolio was underweight
exposure to interest rates within all sectors, a factor that contributed to
performance as rates rose.
One exception to the neutral sector positioning was the high-yield bond
market, where the portfolio's overweight position contributed to relative
performance, reflecting the historical tendency of high-yield issuers, at this
point in the economic cycle, to benefit from improving economic fundamentals
even as rates are rising. Also contributing to performance were positions in
long maturity bonds, both in Europe and the United States, which are less
sensitive to interest-rate changes than shorter maturities.
The portfolio's small underweight within investment-grade U.S. corporate
bonds detracted somewhat from relative performance, as that sector continued to
reflect the improving credit environment in the United States, including lower
default rates. A rising interest rate environment, however, provides a less
positive outlook going forward. The portfolio's small exposure to emerging
market bonds, which is not included in the benchmark, also detracted from
performance. As global rates rise, foreign direct investment in emerging markets
tends to decline, lowering liquidity in these markets.
THE FUND'S PORTFOLIO IS ACTIVELY MANAGED AND, THEREFORE, ITS HOLDINGS AND
WEIGHTINGS OF A PARTICULAR ISSUER OR PARTICULAR SECTOR AS A PERCENTAGE OF
PORTFOLIO ASSETS ARE SUBJECT TO CHANGE. SECTORS MAY INCLUDE MANY INDUSTRIES.
THE PROSPECTUS CONTAINS IMPORTANT INFORMATION ABOUT THE FUNDS, INCLUDING THE
FUNDS' INVESTMENT OBJECTIVES, RISKS, CHARGES AND ONGOING EXPENSES, THAT YOU
SHOULD CAREFULLY CONSIDER BEFORE INVESTING. TO OBTAIN A PROSPECTUS ON THESE
FUNDS OR ANY LORD ABBETT MUTUAL FUND, PLEASE CONTACT YOUR INVESTMENT
PROFESSIONAL OR LORD ABBETT DISTRIBUTOR LLC AT 800-874-3733 OR VISIT
www.LordAbbett.com. READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.
4
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(1) The MSCI World Index is an unmanaged index that reflects the stock markets
of 22 countries, including the United States, Canada, Europe, Australasia and
the Far East, with values expressed in U.S. dollars. Indices are unmanaged, do
not reflect the deduction of fees or expenses and are not available for direct
investment.
(2) The Lehman Global Aggregate Index is a broad-based measure of the global
investment-grade, fixed-income markets. The three major components of this index
are the U.S. Aggregate, the Pan-European Aggregate and the Asian Pacific
Aggregate Indices. The index also includes Eurodollar and Euro-Yen corporate
bonds, Canadian Government securities and USD investment-grade 144A securities.
Indices are unmanaged, do not reflect the deduction of fees or expenses and are
not available for direct investment.
IMPORTANT PERFORMANCE AND OTHER INFORMATION
The views of the Funds' management and the portfolio holdings described in this
report are as of June 30, 2004; these views and portfolio holdings may have
changed subsequent to this date and they do not guarantee the future performance
of the markets or the Funds. Information provided in this report should not be
considered a recommendation to purchase or sell securities.
A NOTE ABOUT RISK: See Notes to Financial Statements for a discussion of
investment risks. For a more detailed discussion of the risks associated with
the Funds, please see the Funds' Prospectus.
PERFORMANCE: BECAUSE OF ONGOING MARKET VOLATILITY, FUND PERFORMANCE MAY BE
SUBJECT TO SUBSTANTIAL FLUCTUATION. Except where noted, comparative Fund
performance does not account for the deduction of sales charges and would be
different if sales charges were included. The Funds offer additional classes of
shares with distinct pricing options. For a full description of the differences
in pricing alternatives, please see the Funds' Prospectus.
MUTUAL FUNDS ARE NOT INSURED BY THE FDIC, ARE NOT DEPOSITS OR OTHER OBLIGATIONS
OF, OR GUARANTEED BY BANKS, AND ARE SUBJECT TO INVESTMENT RISKS INCLUDING
POSSIBLE LOSS OF PRINCIPAL AMOUNT INVESTED.
5
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SCHEDULE OF INVESTMENTS (UNAUDITED)
GLOBAL EQUITY FUND JUNE 30, 2004
<Table>
<Caption>
U.S. $
VALUE
INVESTMENTS SHARES (000)
- --------------------------------------------------------------------------------
COMMON STOCKS 96.71%
AUSTRALIA 0.90%
Qantas Airways Ltd. 159,044 $ 390
Santos Ltd. 42,798 207
----------
TOTAL 597
----------
AUSTRIA 1.32%
Bank Austria
Creditanstalt 10,281 603
Erste Bank Der
Oesterreichische Sparkasse 1,770 278
----------
TOTAL 881
----------
BERMUDA 1.01%
Tyco Int'l. Ltd. 20,300 673
----------
CANADA 1.29%
Barrick Gold Corp. 10,800 213
Nortel Networks Corp.* 62,200 310
Opti Canada, Inc.* 24,200 339
----------
TOTAL 862
----------
CHINA 0.70%
China Telecom
Corp. Ltd-H 1,328,100 464
----------
DENMARK 0.85%
Tele Danmark AS 17,400 565
----------
FINLAND 1.46%
Nokia Oyj 25,200 364
Stora Enso Oyj-R Shares 44,900 609
----------
TOTAL 973
----------
FRANCE 5.41%
Axa 17,045 375
BNP Paribas S.A.^ 6,844 421
Credit Agricole S.A.^ 14,631 356
France Telecom S.A.^ 11,931 311
Lafarge S.A.^ 2,644 236
Sanofi-Synthelabo S.A.^ 9,565 606
Schneider Electric S.A.^ 7,348 $ 502
Total S.A.^ 2,214 422
Vinci S.A.^ 3,722 375
----------
TOTAL 3,604
----------
GERMANY 2.06%
BASF AG^ 9,667 517
Continental AG 6,037 291
Deutsche Telekom
AG Registered* 15,493 272
MAN AG^ 7,885 288
----------
TOTAL 1,368
----------
ISRAEL 0.87%
Teva Pharmaceutical
Industries Ltd. ADR 8,600 579
----------
ITALY 0.98%
Telecom Italia S.p.A.^ 132,699 413
Telecom Italia
(RNC) S.p.A.^ 108,387 239
----------
TOTAL 652
----------
JAPAN 9.94%
Aiful Corp. 3,750 391
Canon, Inc. 8,700 458
Chugai
Pharmaceutical Co Ltd.^ 16,100 253
Credit Saison Co. Ltd. 17,400 523
East Japan Railway 48 269
Fanuc Ltd. 6,000 358
Kao Corp. 14,714 355
Konica Minolta
Holdings, Inc. 33,000 455
Kyocera Corp. 3,600 306
Lawson, Inc. 7,990 330
Millea Holdings, Inc. 14 208
Mitsubishi Tokyo Financial 32 296
Sony Corp. 9,069 342
Sumitomo
Trust & Banking 92,000 655
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
6
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL EQUITY FUND JUNE 30, 2004
<Table>
<Caption>
U.S. $
VALUE
INVESTMENTS SHARES (000)
- --------------------------------------------------------------------------------
Takashimaya Co.^ 42,000 $ 486
Takefuji Corp. 6,200 449
Yamanouchi
Pharmaceutical 14,400 484
----------
TOTAL 6,618
----------
NETHERLANDS 1.40%
ASM Lithography
Holding N.V.* 10,543 179
Royal Dutch
Petroleum Co.^ 7,370 378
Unilever N.V. 5,525 378
----------
TOTAL 935
----------
RUSSIA 0.43%
Yukos ADR 9,100 289
----------
SINGAPORE 0.71%
DBS Group Holdings Ltd. 56,600 473
----------
SOUTH KOREA 0.81%
KT&G Corp. 11,400 264
Samsung
Electronics Co., Ltd. 671 277
----------
TOTAL 541
----------
SPAIN 1.31%
ACS Actividades
Cons Y Serv^ 31,839 536
Gestevision Telecinco S.A.* 22,300 333
----------
TOTAL 869
----------
SWEDEN 1.39%
Atlas Copco
AB - A Shares 13,000 483
Skandia Forsakrings AB 106,500 441
----------
TOTAL 924
----------
SWITZERLAND 2.77%
Credit Suisse Group* 11,961 425
Nestle S.A. - Registered 1,908 509
Novartis AG - Registered 13,291 586
UBS AG - Registered 4,629 326
----------
TOTAL 1,846
----------
TAIWAN 0.62%
Mediatek Inc, 23,000 $ 183
Taiwan Semiconductor
Manufacturing
Co., Ltd. ADR 27,454 228
----------
TOTAL 411
----------
UNITED KINGDOM 7.89%
BP plc 31,790 281
British Aerospace plc 112,777 448
British Sky
Broadcasting plc 28,067 316
Diageo plc 37,760 509
GlaxoSmithKline plc 24,047 487
HSBC Holdings plc 26,206 390
National Grid Transco plc 33,700 260
Prudential plc 60,082 517
Reed Elsevier plc 51,401 500
Royal Bank of Scotland
Group plc 10,724 309
Tesco plc 119,352 576
Vodafone Group plc 300,123 657
----------
TOTAL 5,250
----------
UNITED STATES 52.59%
Abbott Laboratories 9,300 379
Alcoa, Inc. 12,400 410
American Express Co. 4,800 247
American Int'l. Group, Inc. 12,700 905
Amgen, Inc.* 5,300 289
Apple Computer, Inc.* 21,300 693
Archer-Daniels-
Midland Co. 14,500 243
Baker Hughes, Inc. 12,900 486
Bank of America Corp. 4,575 387
Bank of New York Co., Inc. 12,200 360
Bank One Corp. 15,100 770
Baxter Int'l., Inc. 11,500 397
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
7
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL EQUITY FUND JUNE 30, 2004
<Table>
<Caption>
U.S. $
VALUE
INVESTMENTS SHARES (000)
- --------------------------------------------------------------------------------
Cardinal Health, Inc. 6,900 $ 483
CIGNA Corp. 4,100 282
Cisco Systems, Inc.* 15,300 363
Citigroup, Inc. 17,800 828
Clear Channel Comm, Inc. 13,900 514
Comcast Corp.* 20,400 563
Corning, Inc.* 22,600 295
CSX Corp. 9,300 305
CVS Corp. 4,900 206
Deere & Co. 14,700 1,031
E.I. du Pont de
Nemours & Co. 4,200 187
Eaton Corp. 8,200 531
eBay, Inc.* 2,200 202
Eli Lilly & Co. 2,400 168
EMC Corp.* 61,000 696
Emerson Electric Co. 4,500 286
Exxon Mobil Corp. 39,600 1,759
Federal National
Mortgage Assoc. 2,300 164
FPL Group, Inc. 4,200 269
Genentech, Inc.* 3,000 169
General Electric Co. 23,500 761
Gillette Co. 9,100 386
Hartford Financial
Group, Inc. 3,700 254
Illinois Tool Works, Inc. 3,900 374
Intel Corp. 13,640 376
International Paper Co. 15,300 684
J.P. Morgan Chase & Co. 8,000 310
Johnson & Johnson 4,900 273
Kellogg Co. 8,500 356
Kraft Foods, Inc. Class A 15,435 489
Kroger Co.* 16,500 300
Mellon Financial Corp. 18,800 551
Merck & Co., Inc. 9,200 437
Merrill Lynch & Co., Inc. 8,300 448
Microsoft Corp. 17,200 $ 491
Monsanto Co. 7,800 300
Motorola, Inc. 46,000 840
Newmont Mining Corp. 11,500 446
NIKE, Inc. Class B 4,800 364
Parker Hannifin Corp. 3,300 196
PepsiCo, Inc. 13,900 749
Pfizer, Inc. 14,800 507
Praxair, Inc. 12,900 515
QUALCOMM, Inc. 2,700 197
Rohm & Haas Co. 7,100 295
SBC Communications, Inc. 13,600 330
Schering-Plough Corp. 32,600 602
Schlumberger Ltd. 9,300 591
Solectron Corp.* 48,700 315
Target Corp. 10,600 450
Teradyne, Inc.* 5,300 120
The Gap, Inc. 24,000 582
The Procter & Gamble Co. 5,200 283
The Walt Disney Co. 32,100 818
Tribune Co. 13,100 597
U.S. Bancorp 10,500 289
Union Pacific Corp. 4,900 291
UnitedHealth Group, Inc. 1,500 93
Verizon
Communications, Inc. 19,300 698
Viacom, Inc. 14,600 522
Wachovia Corp. 10,200 454
Waste Management, Inc. 11,100 340
Wells Fargo & Co. 8,000 458
Wyeth 17,100 618
Xerox Corp.* 42,200 612
Zimmer Holdings, Inc.* 2,100 185
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TOTAL 35,014
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TOTAL COMMON STOCKS
(Cost $63,253,703) 64,388
==========
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
8
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL EQUITY FUND JUNE 30, 2004
<Table>
<Caption>
U.S. $
VALUE
INVESTMENTS SHARES (000)
- --------------------------------------------------------------------------------
SHORT-TERM INVESTMENTS 8.32%
COLLATERAL FOR SECURITIES ON LOAN 6.83%
State Street Navigator Securities
Lending Prime
Portfolio, 1.21%(a) 4,547,289 $ 4,547
----------
<Caption>
PRINCIPAL
AMOUNT
(000)
----------
REPURCHASE AGREEMENT 1.49%
Repurchase Agreement
dated 6/30/2004,
1.35% due 7/1/2004
with State Street
Bank & Trust Co.
collateralized by
$1,015,000 of Federal
Home Loan Bank at
1.625% due 4/15/2005;
value: $1,014,313;
proceeds: $992,164 $ 992 992
----------
TOTAL SHORT-TERM INVESTMENTS
(Cost $5,539,416) 5,539
==========
Total Investments 105.03%
(Cost $68,793,119) $ 69,927
==========
</Table>
* Non-income producing security.
^ Security (or a portion of security) on loan. See Note 5.
(a) Rate shown reflects 7 day yield as of June 30, 2004.
ADR American Depository Receipt.
SEE NOTES TO FINANCIAL STATEMENTS.
9
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SCHEDULE OF INVESTMENTS (UNAUDITED)(CONCLUDED)
GLOBAL EQUITY FUND JUNE 30, 2004
- --------------------------------------------------------------------------------
SECURITIES PRESENTED BY INDUSTRY:
<Table>
Aerospace & Defense 0.67%
Agricultural Products 0.37%
Airlines 0.59%
Aluminum 0.62%
Apparel Retail 0.87%
Asset Management & Custody Banks 1.37%
Banks 9.22%
Biotechnology 0.69%
Broadcasting & Cable TV 2.59%
Collateral for Securities on Loan 6.83%
Computer Hardware 1.04%
Computer Storage & Peripherals 1.32%
Construction & Engineering 0.56%
Construction & Farm Machines 1.55%
Construction Materials 1.16%
Consumer Electronics 0.51%
Consumer Finance 2.42%
Department Stores 0.73%
Distillers & Vintners 0.77%
Diversified Capital Markets 1.59%
Diversified Chemicals 1.06%
Diversified Financial Services 1.24%
Drug Retail 0.31%
Electric Utilities 0.40%
Electrical Components & Equipment 1.18%
Electronic Equipment & Instruments 0.46%
Electronic Manufacturing Services 0.47%
Environmental Services 0.51%
Fertilizers & Agriculture Chemicals 0.45%
Food Retail 1.81%
Footwear 0.55%
General Merchandise Stores 0.68%
Gold 0.99%
Health Care Distribution & Services 0.73%
Health Care Equipment 0.87%
Household Products 0.96%
Industrial Conglomerates 2.15%
Industrial Gases 0.77%
Industrial Machinery 3.35%
Integrated Oil & Gas 5.21%
Integrated Telecommunication 4.95%
Internet Retail 0.30%
Investment Banking & Brokerage 0.67%
Life & Health Insurance 1.44%
Managed Health Care 0.56%
Movies & Entertainment 2.01%
Multi-Line Insurance 2.31%
Multi-Utilities 0.39%
Office Electronics 2.29%
Oil & Gas Equipment & Services 1.62%
Oil & Gas Exploration & Products 0.31%
Packaged Foods 2.60%
Paper Products 1.94%
Personal Products 0.58%
Pharmaceuticals 8.98%
Property & Casualty Insurance 0.31%
Publishing & Printing 1.65%
Railroads 1.30%
Repurchase Agreement 1.49%
Semiconductor & Semiconductor Equipment 1.32%
Semiconductor Equipment 0.45%
Soft Drinks 1.12%
Specialty Chemicals 0.44%
Systems Software 0.74%
Telecommunications Equipment 3.56%
Thrifts & Mortgages Finance 0.25%
Tires & Rubber 0.44%
Tobacco 0.40%
Wireless Telecommunication Services 0.99%
------
TOTAL 105.03%
======
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
10
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)
GLOBAL INCOME FUND JUNE 30, 2004
<Table>
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
INTEREST MATURITY CURRENCY US $
INVESTMENTS RATE DATE (000) VALUE
- -------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS 104.95%
FOREIGN BONDS 57.93%
AUSTRALIA 0.18%
Australian Government(a) 7.50% 7/15/2005 AUD 158 $ 112,235
--------------
CANADA 1.29%
Government of Canada(a) 5.50% 6/1/2010 CAD 577 453,105
Shaw Communications, Inc. 7.25% 4/6/2011 USD 100 104,272
Shaw Communications, Inc.(a) 7.50% 11/20/2013 CAD 200 150,565
Telus Corp. 8.00% 6/1/2011 USD 85 96,738
--------------
TOTAL 804,680
--------------
DENMARK 0.48%
Kingdom of Denmark(a) 4.00% 8/15/2008 DKK 1,800 299,126
--------------
ECUADOR 0.01%
Republic of Ecuador+ 7.00%# 8/15/2030 USD 10 6,900
--------------
FRANCE 1.85%
France Telecom 9.50%# 3/1/2031 USD 185 232,840
French Treasury Note(a) 4.50% 7/12/2006 EUR 735 925,521
--------------
TOTAL 1,158,361
--------------
GERMANY 23.41%
Bundesrepublik Deutschland(a) 4.25% 2/15/2008 EUR 1,633 2,050,353
Bundesrepublik Deutschland(a) 5.00% 2/17/2006 EUR 1,410 1,778,798
Bundesrepublik Deutschland(a) 4.125% 8/27/2004 EUR 1,823 2,224,026
Bundesrepublik Deutschland(a) 4.75% 7/4/2034 EUR 1,010 1,199,214
Bundesrepublik Deutschland(a) 5.375% 1/4/2010 EUR 250 328,597
Bundesrepublik Deutschland(a) 4.25% 1/4/2014 EUR 1,250 1,517,153
Bundesrepublik Deutschland(a) 4.75% 7/4/2028 EUR 39 46,489
Bundesrepublik Deutschland(a) 5.25% 1/4/2011 EUR 969 1,269,047
Bundesrepublik Deutschland(a) 5.25% 7/4/2010 EUR 2,386 3,122,293
Kredit Wiederauf(a) 5.625% 11/27/2007 EUR 835 1,092,225
--------------
TOTAL 14,628,195
--------------
GREECE 0.60%
Hellenic Republic(a) 5.25% 5/18/2012 EUR 290 376,638
--------------
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
11
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL INCOME FUND JUNE 30, 2004
<Table>
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
INTEREST MATURITY CURRENCY US $
INVESTMENTS RATE DATE (000) VALUE
- -------------------------------------------------------------------------------------------------------------
IRELAND 0.42%
Eircom Funding^ 8.25% 8/15/2013 USD 250 $ 261,250
--------------
ITALY 2.61%
Buoni Poliennali Del Tesoro(a) 6.00% 5/1/2031 EUR 1,175 1,628,558
--------------
JAPAN 11.07%
Japan - 190 (10 Year Issue)(a) 2.90% 12/20/2006 JPY 172,000 1,678,360
Japan - 199 (10 Year Issue)(a) 2.20% 12/20/2007 JPY 73,000 709,207
Japan - 237 (10 Year Issue)(a) 1.50% 3/20/2012 JPY 66,900 615,273
Japan - 58 (20 Year Issue)(a) 1.90% 9/20/2022 JPY 36,000 314,434
Japan Finance Corp. for
Municipal Enterprises(a) 1.55% 2/21/2012 JPY 191,000 1,750,532
Japan Government 10-YR(a) 1.60% 3/21/2011 JPY 196,950 1,847,390
--------------
TOTAL 6,915,196
--------------
LUXEMBOURG 0.33%
Telecom Italia Capital+ 5.25% 11/15/2013 USD 215 208,465
--------------
NETHERLANDS 6.06%
Deutsche Telekom Fin. 9.25% 6/1/2032 USD 89 117,630
Netherlands Government(a) 3.00% 7/15/2006 EUR 3,000 3,666,587
--------------
TOTAL 3,784,217
--------------
OTHER 6.00%
European Investment Bank(a) 2.125% 9/20/2007 JPY 74,000 711,692
European Investment Bank(a) 3.00% 9/20/2006 JPY 186,000 1,803,965
European Investment Bank(a) 6.25% 12/7/2008 GBP 657 1,232,847
--------------
TOTAL 3,748,504
--------------
ROMANIA 0.59%
Romania(a) 10.625% 6/27/2008 EUR 250 371,091
--------------
SWEDEN 0.58%
Swedish Government(a) 8.00% 8/15/2007 SEK 2,425 363,613
--------------
UNITED KINGDOM 2.45%
United Kingdom Treasury(a) 4.00% 3/7/2009 GBP 111 192,642
United Kingdom Treasury(a) 5.00% 9/7/2014 GBP 87 155,141
United Kingdom Treasury(a) 6.00% 12/7/2028 GBP 300 631,298
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
12
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL INCOME FUND JUNE 30, 2004
<Table>
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
INTEREST MATURITY CURRENCY US $
INVESTMENTS RATE DATE (000) VALUE
- -------------------------------------------------------------------------------------------------------------
United Kingdom Treasury(a) 9.00% 7/12/2011 GBP 249 $ 555,175
--------------
TOTAL 1,534,256
--------------
TOTAL FOREIGN BONDS (Cost $32,746,990) 36,201,285
==============
UNITED STATES BONDS 47.02%
Altria Group, Inc. 7.00% 11/4/2013 USD 31 31,622
American Express Credit 2001-3 A 1.369%# 10/15/2008 USD 500 501,238
American Standard, Inc. 7.625% 2/15/2010 USD 100 110,500
AT&T Broadband Corp. 8.375% 3/15/2013 USD 80 94,065
AT&T Broadband Corp. 9.455% 11/15/2022 USD 100 128,853
AT&T Corp. 8.75% 11/15/2031 USD 30 29,358
Bank One Issuance Trust 2002-A1 A1 1.349%# 1/15/2010 USD 500 501,161
Bank One Issuance Trust 2003-A5 A5 1.289%# 2/17/2009 USD 500 500,495
Burlington Northern Santa Fe 6.75% 7/15/2011 USD 200 220,246
Citibank Credit Card Master 1999-7 A 6.65% 11/15/2006 USD 150 152,850
Comed Transitional Funding 1998-1 A5 5.44% 3/25/2007 USD 216 219,811
Corn Products Int'l., Inc. 8.45% 8/15/2009 USD 125 139,062
Corning, Inc. 5.90% 3/15/2014 USD 30 28,200
Credit Suisse First Boston 1998-C2 A1 5.96% 11/11/2030 USD 678 701,973
CRH America, Inc. 6.95% 3/15/2012 USD 125 137,554
CSC Holdings, Inc. 7.625% 4/1/2011 USD 50 50,375
Daimler Chrysler Auto Trust 2001-D A3 3.15% 11/6/2005 USD 278 278,426
Discover Card Master Trust I 1995-1 A 1.519%# 2/16/2007 USD 1,000 1,000,902
Dow Chemical Co. 5.97% 1/15/2009 USD 127 133,954
Dun & Bradstreet Corp. 6.625% 3/15/2006 USD 237 247,850
Federal Gold Home Loan Mortgage Corp 5.00% TBA USD 1,300 1,300,813
Federal Gold Home Loan Mortgage Corp 6.00% TBA USD 1,890 1,922,485
Federal Home Loan Mortgage Corp.(a) 4.75% 1/15/2013 EUR 151 187,835
Federal Home Loan Mortgage Corp. A23249 5.00% 6/1/2034 USD 320 309,335
Federal Home Loan Mortgage Corp. B13801 4.50% 4/1/2019 USD 670 655,693
Federal Home Loan Mortgage Corp. C63990 7.00% 2/1/2032 USD 209 221,158
Federal National Mortgage Assoc. 4.75% 2/21/2013 USD 2,349 2,271,382
Federal National Mortgage Assoc. 6.125% 3/15/2012 USD 550 593,991
Federal National Mortgage Assoc. 6.625% 11/15/2030 USD 630 695,616
Federal National Mortgage Assoc. 7.25% 1/15/2010 USD 223 254,158
Federal National Mortgage Assoc. 5.50% TBA USD 2,085 2,086,506
Federal National Mortgage Assoc. 6.50% 2/1/2028 USD 589 614,942
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
13
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL INCOME FUND JUNE 30, 2004
<Table>
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
INTEREST MATURITY CURRENCY US $
INVESTMENTS RATE DATE (000) VALUE
- -------------------------------------------------------------------------------------------------------------
Federal National Mortgage Assoc. 6.50% 1/1/2033 USD 198 $ 206,494
Federal National Mortgage Assoc. 6.50% TBA USD 655 679,767
Ford Credit Auto Owner Trust 2003-A A2A 1.62% 8/15/2005 USD 104 103,659
Ford Motor Credit Corp. 6.875% 2/1/2006 USD 1,045 1,096,506
Fort James Corp. 6.875% 9/15/2007 USD 210 221,550
General Electric Capital Corp. 6.00% 6/15/2012 USD 65 68,702
General Electric Co. 5.00% 2/1/2013 USD 284 279,987
GMAC Mortgage Corp. 8.00% 11/1/2031 USD 125 128,433
Goldman Sachs Group, Inc. (The) 6.875% 1/15/2011 USD 245 269,310
Greenwich Capital Commercial
Funding 2004-GG1 A7 5.317% 6/10/2036 USD 260 259,756
Harrah's Operating Co., Inc. 8.00% 2/1/2011 USD 85 96,076
Hilton Hotels Corp. 8.25% 2/15/2011 USD 70 78,225
Household Finance Corp. 7.00% 5/15/2012 USD 150 165,949
Int'l. Flavors & Frag., Inc. 6.45% 5/15/2006 USD 150 158,550
Kansas City Power & Light 7.125% 12/15/2005 USD 500 529,685
KFW Int'l. Finance(a) 6.00% 12/7/2028 GBP 162 324,391
Kinder Morgan Energy Partners 7.75% 3/15/2032 USD 18 20,032
MBNA Credit Card Master Note
2002-A12 A12 1.299%# 4/15/2008 USD 650 650,744
MBNA Master Credit Card Trust 1995-A A 1.509%# 1/16/2007 USD 330 330,302
MBNA Master Credit Card Trust 2000-C A 1.399%# 7/15/2007 USD 340 340,522
MBNA Master Credit Card Trust 2001-A A 1.389%# 7/15/2008 USD 600 601,631
Morgan Stanley Capital 2004-HQ3 A4 4.80% 1/13/2041 USD 380 365,382
New Asat Finance+ 9.25% 2/1/2011 USD 100 99,500
Niagara Mohawk Holdings, Inc. 5.375% 10/1/2004 USD 90 90,770
Pfizer, Inc.(a) 0.80% 3/18/2008 JPY 175,000 1,610,383
PG&E Corp. 4.80% 3/1/2014 USD 30 28,480
Quest Diagnostics, Inc. 7.50% 7/12/2011 USD 125 143,395
Qwest Communications Int'l, Inc.+ 7.25% 2/15/2011 USD 70 65,625
Scholastic Corp. 5.75% 1/15/2007 USD 150 157,012
SLM Student Loan Trust 2002-2 A1 1.2%# 10/25/2010 USD 145 145,409
Sprint Capital Corp. 8.375% 3/15/2012 USD 100 115,100
Time Warner, Inc. 6.125% 4/15/2006 USD 50 52,401
Time Warner, Inc. 7.625% 4/15/2031 USD 120 130,244
Trinity Industries, Inc.+ 6.50% 3/15/2014 USD 60 55,200
U.S. Treasury Bond 5.25% 2/15/2029 USD 1,417 1,389,768
U.S. Treasury Note 4.875% 2/15/2012 USD 837 864,726
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
14
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL INCOME FUND JUNE 30, 2004
<Table>
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
INTEREST MATURITY CURRENCY US $
INVESTMENTS RATE DATE (000) VALUE
- -------------------------------------------------------------------------------------------------------------
U.S. Treasury Note 5.625% 5/15/2008 USD 200 $ 215,344
U.S. Treasury Strips Zero Coupon 8/15/2020 USD 1,182 486,707
Verizon Global Funding Corp. 7.25% 12/1/2010 USD 170 190,302
Viacom, Inc. 6.625% 5/15/2011 USD 90 98,054
Waste Management, Inc. 7.10% 8/1/2026 USD 100 105,294
Westvaco Corp. 8.20% 1/15/2030 USD 38 43,214
--------------
TOTAL UNITED STATES BONDS (Cost $29,017,631) 29,384,990
==============
TOTAL LONG-TERM INVESTMENTS (Cost $61,764,621) 65,586,275
==============
<Caption>
SHARES
(000)
------
SHORT-TERM INVESTMENTS 6.80%
COLLATERAL FOR SECURITIES ON LOAN 0.44%
State Street Navigator
Securities Lending Prime Portfolio, 1.21%(b) USD 273 273,125
--------------
<Caption>
PRINCIPAL
AMOUNT
IN LOCAL
CURRENCY
(000)
-----
REPURCHASE AGREEMENT 6.36%
Repurchase Agreement dated 6/30/2004, 1.35%
due 7/1/2004 with State Street Bank & Trust Co.
collateralized by $3,975,000 of Federal Home
Loan Bank at 4.625% due 8/13/2004;
value: $4,058,777; proceeds: $3,976,205 USD 3,976 3,976,056
--------------
TOTAL SHORT-TERM INVESTMENTS (Cost $4,249,181) 4,249,181
==============
TOTAL INVESTMENTS 111.75% (Cost $66,013,802) $ 69,835,456
==============
</Table>
+ Security exempt from registration under Rule 144A of the Securities Act of
1933. These securities may be resold in transactions exempt from
registration normally to qualified institutional buyers.
^ All (or a portion) of security on loan. See Note 5.
# Variable rate security. The interest rate represents the rate at June 30,
2004.
(a) Investment in non-U.S. dollar denominated securities (53.41% of total
investments). The remaining securities (46.59% of total investments) are
invested in U.S. dollar denominated securities.
(b) Rate shown reflects 7 day yield as of June 30, 2004.
TBA To be announced. Security purchased on a forward commitment basis with an
approximate principal and maturity date. Actual principal and maturity will
be determined upon settlement when the specific mortgage pools are assigned.
AUD Australian Dollar
CAD Canadian Dollar
DKK Danish Krone
EUR Euro
GBP British Pound
JPY Japanese Yen
SEK Swedish Krona
USD U.S. Dollar
SEE NOTES TO FINANCIAL STATEMENTS.
15
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONTINUED)
GLOBAL INCOME FUND JUNE 30, 2004
FORWARD FOREIGN CURRENCY CONTRACTS OPEN AS OF JUNE 30, 2004:
<Table>
<Caption>
FORWARD U.S. $ COST U.S. $
FOREIGN CURRENCY EXPIRATION FOREIGN ON ORIGINATION CURRENT UNREALIZED UNREALIZED
PURCHASE CONTRACTS DATE CURRENCY DATE VALUE APPRECIATION DEPRECIATION
- ------------------------------------------------------------------------------------------------------------------
EUR 7/20/2004 2,550,000 $ 3,017,083 $ 3,104,893 $ 87,810 $ -
-------------- ----------- ------------ ------------
TOTAL FORWARD FOREIGN CURRENCY PURCHASE CONTRACTS $ 3,017,083 $ 3,104,893 $ 87,810 $ -
============== =========== ============ ============
</Table>
<Table>
<Caption>
FORWARD U.S. $ COST U.S. $
FOREIGN CURRENCY EXPIRATION FOREIGN ON ORIGINATION CURRENT UNREALIZED UNREALIZED
SALE CONTRACTS DATE CURRENCY DATE VALUE APPRECIATION DEPRECIATION
- ------------------------------------------------------------------------------------------------------------------
EUR 7/20/2004 2,550,000 $ 3,037,535 $ 3,104,893 $ - $ 67,358
JPY 9/7/2004 114,000,000 1,028,208 1,045,670 - 17,462
-------------- ----------- ------------ ------------
TOTAL FORWARD FOREIGN CURRENCY SALE CONTRACTS $ 4,065,743 $ 4,150,563 $ - $ 84,820
============== =========== ============ ============
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
16
<Page>
SCHEDULE OF INVESTMENTS (UNAUDITED)(CONCLUDED)
GLOBAL INCOME FUND JUNE 30, 2004
SECURITIES PRESENTED BY INDUSTRY:
<Table>
Agency 16.72%
Automotive 0.45%
Banking 2.89%
Building & Construction 0.22%
Building Materials 0.18%
Chemicals 0.22%
Collateral for Securities on Loan 0.44%
Consumer-Products 0.25%
Diversified Capital Goods 0.09%
Electric-Integrated 1.60%
Electronics 0.20%
Environmental 0.17%
Food-Wholesale 0.22%
Foreign Sovereign 24.99%
Forestry/Paper 0.42%
Gaming 0.15%
Government Guaranteed 7.81%
Health Services 2.81%
Hotels 0.13%
Integrated Energy 0.03%
Investments & Miscellaneous
Financial Services 21.73%
Media-Broadcast 0.16%
Media-Cable 0.25%
Media-Diversified 0.29%
Media-Services 0.24%
Mortgage Backed 2.18%
Printing & Publishing 0.25%
Railroads 0.35%
Repurchase Agreement 6.36%
Sovereign 12.25%
Supranational 1.14%
Telecom-Fixed Line 0.33%
Telecom-Integrated/Services 1.45%
Tobacco 0.05%
U.S. Treasury Obligations 4.73%
------
TOTAL 111.75%
======
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
17
<Page>
STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED)
JUNE 30, 2004
<Table>
<Caption>
GLOBAL GLOBAL
EQUITY FUND INCOME FUND
ASSETS:
Investment in securities, at cost $ 68,793,119 $ 66,013,802
- -------------------------------------------------------------------------------------------------------
Investment in securities, at value $ 69,927,266 $ 69,835,456
Foreign cash, at value (cost $534,846 and $187,956, respectively) 525,717 187,621
Receivables:
Interest and dividends 98,730 1,161,396
Investment securities sold 1,265,126 2,999,300
Capital shares sold 85,020 6,955
Forward foreign currency exchange contracts appreciation - 87,810
Prepaid expenses and other assets 3,583 3,201
- -------------------------------------------------------------------------------------------------------
TOTAL ASSETS 71,905,442 74,281,739
- -------------------------------------------------------------------------------------------------------
LIABILITIES:
Payable upon return of securities on loan 4,547,289 273,125
Payables:
Investment securities purchased 496,757 9,205,803
Capital shares reacquired 104,834 1,893,268
Management fee 40,208 26,403
12b-1 distribution fees 28,613 38,002
Fund administration 2,159 2,120
Directors' fees 28,438 53,778
Forward foreign currency exchange contracts depreciation - 84,820
Dividends payable - 155,115
Accrued expenses and other liabilities 78,621 57,827
- -------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES 5,326,919 11,790,261
=======================================================================================================
NET ASSETS $ 66,578,523 $ 62,491,478
=======================================================================================================
COMPOSITION OF NET ASSETS:
Paid-in capital $ 67,258,698 $ 68,580,483
Undistributed net investment income 98,118 471,393
Accumulated net realized loss on investments, futures
contracts and foreign currency related transactions (1,907,941) (10,401,743)
Net unrealized appreciation on investments and translation
of assets and liabilities denominated in foreign currencies 1,129,648 3,841,345
- -------------------------------------------------------------------------------------------------------
NET ASSETS $ 66,578,523 $ 62,491,478
=======================================================================================================
NET ASSETS BY CLASS:
Class A Shares $ 54,259,056 $ 52,296,461
Class B Shares $ 6,848,010 $ 4,602,779
Class C Shares $ 5,471,457 $ 5,590,176
Class P Shares - $ 2,062
OUTSTANDING SHARES BY CLASS:
Class A Shares (445 million, and 430 million shares of common stock
authorized respectively, $.001 par value) 5,070,693 7,290,427
Class B Shares (15 million, and 30 million shares of common stock
authorized respectively, $.001 par value) 668,099 640,365
Class C Shares (20 million, and 20 million shares of common stock
authorized respectively, $.001 par value) 533,274 777,907
Class P Shares (20 million shares of common stock
authorized respectively, $.001 par value) - 289
NETASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE (NET ASSETS
DIVIDED BY OUTSTANDING SHARES):
Class A Shares-Net asset value $ 10.70 $ 7.17
Class A Shares-Maximum offering price
(Net asset value plus sales charge of 5.75% and 4.75%,
respectively) $ 11.35 $ 7.53
Class B Shares-Net asset value $ 10.25 $ 7.19
Class C Shares-Net asset value $ 10.26 $ 7.19
Class P Shares-Net asset value - $ 7.13
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
18
<Page>
STATEMENTS OF OPERATIONS (UNAUDITED)
FOR THE SIX MONTHS ENDED JUNE 30, 2004
<Table>
<Caption>
GLOBAL GLOBAL
EQUITY FUND INCOME FUND
INVESTMENT INCOME:
Dividends $ 770,830 $ -
Interest 6,218 1,227,640
Securities lending-net 14,604 289
Foreign withholding tax (61,642) (1,443)
- -------------------------------------------------------------------------------------------------------
TOTAL INVESTMENT INCOME 730,010 1,226,486
- -------------------------------------------------------------------------------------------------------
EXPENSES:
Management fee 242,148 165,979
12b-1 distribution plan-Class A 96,303 102,035
12b-1 distribution plan-Class B 32,024 21,124
12b-1 distribution plan-Class C 23,219 27,310
12b-1 distribution plan-Class P - 4,079
Shareholder servicing 169,803 75,726
Professional 20,124 24,981
Reports to shareholders 15,024 18,000
Fund administration 12,914 13,279
Custody 23,051 14,381
Directors' fees 592 632
Registration 20,000 26,000
Other 40,137 3,715
- -------------------------------------------------------------------------------------------------------
Gross expenses 695,339 497,241
Expense reductions (214) (236)
- -------------------------------------------------------------------------------------------------------
NET EXPENSES 695,125 497,005
- -------------------------------------------------------------------------------------------------------
NET INVESTMENT INCOME 34,885 729,481
- -------------------------------------------------------------------------------------------------------
NET REALIZED AND UNREALIZED GAIN (LOSS):
Net realized gain on investments and foreign currency
related transactions 10,278,608 1,813,234
Net change in unrealized appreciation/depreciation on investments
and translation of assets and liabilities denominated in
foreign currencies (9,172,090) (3,673,829)
=======================================================================================================
NET REALIZED AND UNREALIZED GAIN (LOSS) 1,106,518 (1,860,595)
=======================================================================================================
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS $ 1,141,403 $ (1,131,114)
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
19
<Page>
STATEMENTS OF CHANGES IN NET ASSETS (UNAUDITED)
SIX MONTHS ENDED JUNE 30, 2004
<Table>
<Caption>
GLOBAL GLOBAL
INCREASE (DECREASE) IN NET ASSETS EQUITY FUND INCOME FUND
OPERATIONS:
Net investment income $ 34,885 $ 729,481
Net realized gain on investments and foreign currency
related transactions 10,278,608 1,813,234
Net change in unrealized appreciation/depreciation on
investments and translation of assets and liabilities denominated
in foreign currencies (9,172,090) (3,673,829)
- -------------------------------------------------------------------------------------------------------
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS 1,141,403 (1,131,114)
=======================================================================================================
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Net investment income
Class A - (1,064,880)
Class B - (69,528)
Class C - (89,280)
Class P - (34,691)
- -------------------------------------------------------------------------------------------------------
TOTAL DISTRIBUTIONS TO SHAREHOLDERS - (1,258,379)
=======================================================================================================
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sales of shares 9,615,461 7,660,440
Reinvestment of distributions - 1,001,813
Cost of shares reacquired (7,150,283) (11,002,180)
- -------------------------------------------------------------------------------------------------------
NET INCREASE (DECREASE) IN NET ASSETS
RESULTING FROM CAPITAL SHARE TRANSACTIONS 2,465,178 (2,339,927)
=======================================================================================================
NET INCREASE (DECREASE) IN NET ASSETS 3,606,581 (4,729,420)
=======================================================================================================
NET ASSETS:
Beginning of period 62,971,942 67,220,898
- -------------------------------------------------------------------------------------------------------
END OF PERIOD $ 66,578,523 $ 62,491,478
=======================================================================================================
UNDISTRIBUTED NET INVESTMENT INCOME $ 98,118 $ 471,393
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
20
<Page>
STATEMENTS OF CHANGES IN NET ASSETS
YEAR ENDED DECEMBER 31, 2003
<Table>
<Caption>
GLOBAL GLOBAL
INCREASE IN NET ASSETS EQUITY FUND INCOME FUND
OPERATIONS:
Net investment income $ 169,237 $ 1,521,208
Net realized gain on investments and foreign currency
related transactions 42,937 3,652,218
Net change in unrealized appreciation/depreciation on
investments and translation of assets and liabilities
denominated in foreign currencies 11,618,358 2,529,292
- -------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS 11,830,532 7,702,718
=======================================================================================================
DISTRIBUTIONS TO SHAREHOLDERS FROM:
Net investment income
Class A (85,217) (2,661,889)
Class B - (147,508)
Class C - (174,027)
Class P - (76,223)
- -------------------------------------------------------------------------------------------------------
TOTAL DISTRIBUTIONS TO SHAREHOLDERS (85,217) (3,059,647)
=======================================================================================================
CAPITAL SHARE TRANSACTIONS:
Net proceeds from sales of shares 20,725,470 16,224,299
Reinvestment of distributions 81,162 2,443,699
Cost of shares reacquired (13,748,707) $ (18,421,931)
- -------------------------------------------------------------------------------------------------------
NET INCREASE IN NET ASSETS
RESULTING FROM CAPITAL SHARE TRANSACTIONS 7,057,925 246,067
=======================================================================================================
NET INCREASE IN NET ASSETS 18,803,240 4,889,138
=======================================================================================================
NET ASSETS:
Beginning of year 44,168,702 62,331,760
- -------------------------------------------------------------------------------------------------------
END OF YEAR $ 62,971,942 $ 67,220,898
=======================================================================================================
UNDISTRIBUTED NET INVESTMENT INCOME $ 63,233 $ 1,000,291
=======================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
21
<Page>
FINANCIAL HIGHLIGHTS
GLOBAL EQUITY FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS A SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 10.51 $ 8.33 $ 10.02 $ 12.98 $ 13.82 $ 12.29
=========== ======== ======== ======== ======== ========
Investment operations
Net investment income (loss)(a) .01 .04 .03 (.02) (.05) (.09)
Net realized and
unrealized gain (loss) .18 2.16 (1.69) (2.94) .65 1.62
----------- -------- -------- -------- -------- --------
Total from investment
operations .19 2.20 (1.66) (2.96) .60 1.53
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net investment income - (.02) (.03) - - -
Net realized gain - - - - (1.44) -
----------- -------- -------- -------- -------- --------
Total distributions - (.02) (.03) - (1.44) -
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 10.70 $ 10.51 $ 8.33 $ 10.02 $ 12.98 $ 13.82
=========== ======== ======== ======== ======== ========
Total Return(b) 1.81%(c) 26.38% (16.58)% (22.80)% 4.78% 12.37%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions 1.01%(c) 1.95% 2.29% 1.99% 1.78% 1.94%
Expenses, excluding expense
reductions 1.01%(c) 1.95% 2.29% 2.01% 1.79% 1.94%
Net investment income (loss) .12%(c) .45% .30% (.19)% (.34)% (.77)%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 54,259 $ 52,828 $ 37,555 $ 47,016 $ 64,288 $ 66,975
Portfolio turnover rate 130.84% 56.26% 43.52% 97.27% 41.21% 78.74%
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
22
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
GLOBAL EQUITY FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS B SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 10.10 $ 8.04 $ 9.70 $ 12.65 $ 13.60 $ 12.18
=========== ======== ======== ======== ======== ========
Investment operations
Net investment loss(a) (.02) (.02) (.03) (.09) (.14) (.17)
Net realized and
unrealized gain (loss) .17 2.08 (1.63) (2.86) .63 1.59
----------- -------- -------- -------- -------- --------
Total from investment
operations .15 2.06 (1.66) (2.95) .49 1.42
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net realized gain - - - - (1.44) -
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 10.25 $ 10.10 $ 8.04 $ 9.70 $ 12.65 $ 13.60
=========== ======== ======== ======== ======== ========
Total Return(b) 1.49%(c) 25.62% (17.11)% (23.32)% 4.12% 11.49%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions 1.34%(c) 2.61% 2.92% 2.62% 2.40% 2.57%
Expenses, excluding expense
reductions 1.34%(c) 2.61% 2.92% 2.64% 2.41% 2.57%
Net investment loss (.21)%(c) (.21)% (.33)% (.82)% (.92)% (1.42)%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 6,848 $ 6,033 $ 4,208 $ 4,568 $ 5,615 $ 3,686
Portfolio turnover rate 130.84% 56.26% 43.52% 97.27% 41.21% 78.74%
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
23
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
GLOBAL EQUITY FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS C SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 10.11 $ 8.06 $ 9.73 $ 12.69 $ 13.63 $ 12.20
=========== ======== ======== ======== ======== ========
Investment operations
Net investment loss(a) (.02) (.02) (.03) (.08) (.14) (.17)
Net realized and
unrealized gain (loss) .17 2.07 (1.64) (2.88) .64 1.60
----------- -------- -------- -------- -------- --------
Total from investment
operations .15 2.05 (1.67) (2.96) .50 1.43
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net realized gain - - - - (1.44) -
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 10.26 $ 10.11 $ 8.06 $ 9.73 $ 12.69 $ 13.63
=========== ======== ======== ======== ======== ========
Total Return(b) 1.48%(c) 25.59% (17.16)% (23.33)% 4.19% 11.56%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions 1.34%(c) 2.61% 2.92% 2.62% 2.40% 2.57%
Expenses, excluding expense
reductions 1.34%(c) 2.61% 2.92% 2.64% 2.41% 2.57%
Net investment loss (.21)%(c) (.29)% (.33)% (.78)% (.94)% (1.44)%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 5,472 $ 4,111 $ 2,406 $ 2,262 $ 3,027 $ 2,305
Portfolio turnover rate 130.84% 56.26% 43.52% 97.27% 41.21% 78.74%
====================================================================================================================
</Table>
(a) Calculated using average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads and assumes the
reinvestment of all distributions.
(c) Not annualized.
SEE NOTES TO FINANCIAL STATEMENTS.
24
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
GLOBAL INCOME FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS A SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 7.43 $ 6.91 $ 6.35 $ 6.65 $ 7.16 $ 8.44
=========== ======== ======== ======== ======== ========
Investment operations
Net investment income(a) .08 .18 .20 .25(e) .23 .47
Net realized and
unrealized gain (loss) (.20) .68 .72 (.12) (.25) (1.26)
----------- -------- -------- -------- -------- --------
Total from investment
operations (.12) .86 .92 .13 (.02) (.79)
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net investment income (.14) (.34) (.25) (.40) - (.39)
Paid-in capital - - (.11) (.03) (.49) (.10)
----------- -------- -------- -------- -------- --------
Total distributions (.14) (.34) (.36) (.43) (.49) (.49)
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 7.17 $ 7.43 $ 6.91 $ 6.35 $ 6.65 $ 7.16
=========== ======== ======== ======== ======== ========
Total Return(b) (1.60)%(d) 12.79% 14.90% 1.87% (.03)% (9.47)%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions .69%(d) 1.35% 1.44% 1.25% 1.25% 1.24%
Expenses, excluding expense
reductions .69%(d) 1.35% 1.44% 1.29% 1.31% 1.24%
Net investment income 1.13%(d) 2.43% 3.09% 3.85% 3.42% 6.08%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 52,296 $ 56,386 $ 55,419 $ 52,449 $ 62,592 $ 86,015
Portfolio turnover rate 157.66% 239.18% 216.16% 393.95% 406.50% 314.07%
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
25
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
GLOBAL INCOME FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS B SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 7.45 $ 6.92 $ 6.37 $ 6.67 $ 7.17 $ 8.44
=========== ======== ======== ======== ======== ========
Investment operations
Net investment income(a) .06 .13 .16 .21(e) .19 .43
Net realized and
unrealized gain (loss) (.20) .70 .71 (.12) (.25) (1.26)
----------- -------- -------- -------- -------- --------
Total from investment
operations (.14) .83 .87 .09 (.06) (.83)
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net investment income (.12) (.30) (.22) (.36) - (.35)
Paid-in capital - - (.10) (.03) (.44) (.09)
----------- -------- -------- -------- -------- --------
Total distributions (.12) (.30) (.32) (.39) (.44) (.44)
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 7.19 $ 7.45 $ 6.92 $ 6.37 $ 6.67 $ 7.17
=========== ======== ======== ======== ======== ========
Total Return(b) (1.90)%(d) 12.22% 14.04% 1.28% (.44)% (10.11)%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions 1.01%(d) 1.99% 2.06% 1.88% 1.86% 1.89%
Expenses, excluding expense
reductions 1.01%(d) 1.99% 2.06% 1.92% 1.92% 1.89%
Net investment income .81%(d) 1.79% 2.42% 3.20% 2.79% 5.57%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 4,603 $ 3,719 $ 2,842 $ 1,519 $ 1,317 $ 1,508
Portfolio turnover rate 157.66% 239.18% 216.16% 393.95% 406.50% 314.07%
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
26
<Page>
FINANCIAL HIGHLIGHTS (CONTINUED)
GLOBAL INCOME FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
(UNAUDITED) 2003 2002 2001 2000 1999
PER SHARE OPERATING PERFORMANCE
(CLASS C SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 7.45 $ 6.92 $ 6.37 $ 6.66 $ 7.17 $ 8.44
=========== ======== ======== ======== ======== ========
Investment operations
Net investment income(a) .06 .13 .17 .21(e) .19 .43
Net realized and
unrealized gain (loss) (.20) .70 .71 (.11) (.26) (1.26)
----------- -------- -------- -------- -------- --------
Total from investment
operations (.14) .83 .88 .10 (.07) (.83)
----------- -------- -------- -------- -------- --------
Distributions to shareholders
from:
Net investment income (.12) (.30) (.23) (.36) - (.35)
Paid-in capital - - (.10) (.03) (.44) (.09)
----------- -------- -------- -------- -------- --------
Total distributions (.12) (.30) (.33) (.39) (.44) (.44)
----------- -------- -------- -------- -------- --------
NET ASSET VALUE, END OF PERIOD $ 7.19 $ 7.45 $ 6.92 $ 6.37 $ 6.66 $ 7.17
=========== ======== ======== ======== ======== ========
Total Return(b) (1.89)%(d) 12.29% 14.19% 1.34% (.73)% (9.98)%
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions 1.01%(d) 1.99% 1.94% 1.84% 1.90% 1.88%
Expenses, excluding expense
reductions 1.01%(d) 1.99% 1.94% 1.88% 1.96% 1.88%
Net investment income .81%(d) 1.79% 2.56% 3.23% 2.77% 5.42%
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31
6/30/2004 ------------------------------------------------------------
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 1999
- --------------------------------------------------------------------------------------------------------------------
Net assets, end of
period (000) $ 5,590 $ 5,212 $ 2,989 $ 2,152 $ 1,852 $ 2,696
Portfolio turnover rate 157.66% 239.18% 216.16% 393.95% 406.50% 314.07%
====================================================================================================================
</Table>
SEE NOTES TO FINANCIAL STATEMENTS.
27
<Page>
FINANCIAL HIGHLIGHTS (CONCLUDED)
GLOBAL INCOME FUND
<Table>
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31 3/4/1999(c)
6/30/2004 ----------------------------------------------- TO
(UNAUDITED) 2003 2002 2001 2000 12/31/99
PER SHARE OPERATING PERFORMANCE
(CLASS P SHARES)
NET ASSET VALUE,
BEGINNING OF PERIOD $ 7.39 $ 6.87 $ 6.32 $ 6.62 $ 7.16 $ 7.91
=========== ======== ======== ======== ======== ===========
Investment operations
Net investment income(a) .08 .17 .20 .24(e) .22 .42
Net realized and
unrealized gain (loss) (.20) .69 .71 (.11) (.28) (.85)
----------- -------- -------- -------- -------- -----------
Total from investment
operations (.12) .86 .91 .13 (.06) (.43)
----------- -------- -------- -------- -------- -----------
Distributions to shareholders
from:
Net investment income (.14) (.34) (.25) (.40) - (.25)
Paid-in capital - - (.11) (.03) (.48) (.07)
----------- -------- -------- -------- -------- -----------
Total distributions (.14) (.34) (.36) (.43) (.48) (.32)
----------- -------- -------- -------- -------- -----------
NET ASSET VALUE, END OF PERIOD $ 7.13 $ 7.39 $ 6.87 $ 6.32 $ 6.62 $ 7.16
=========== ======== ======== ======== ======== ===========
Total Return(b) (1.65)%(d) 12.78% 14.82% 1.84% (.57)% (5.51)%(d)
RATIOS TO AVERAGE NET ASSETS
Expenses, including expense
reductions .73%(d) 1.44% 1.51% 1.33% 1.31% 1.25%(d)
Expenses, excluding expense
reductions .73%(d) 1.44% 1.51% 1.37% 1.37% 1.25%(d)
Net investment income 1.09%(d) 2.34% 2.96% 3.69% 3.34% 5.66%(d)
<Caption>
SIX MONTHS
ENDED YEAR ENDED 12/31 3/4/1999(c)
6/30/2004 ----------------------------------------------- TO
SUPPLEMENTAL DATA: (UNAUDITED) 2003 2002 2001 2000 12/31/99
- -----------------------------------------------------------------------------------------------------------------------
ghhgh
Net assets, end of
period (000) $ 2 $ 1,904 $ 1,082 $ 526 $ 229 $ 210
Portfolio turnover rate 157.66% 239.18% 216.16% 393.95% 406.50% 314.07%
=======================================================================================================================
</Table>
(a) Calculated using average shares outstanding during the period.
(b) Total return does not consider the effects of sales loads and assumes the
reinvestment of all distributions.
(c) Commencement of offering of class shares.
(d) Not annualized.
(e) Interest expense is less than $.01.
SEE NOTES TO FINANCIAL STATEMENTS.
28
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. ORGANIZATION
Lord Abbett Global Fund, Inc. (the "Company") is registered under the Investment
Company Act of 1940 (the "Act") as an open-end management investment company,
incorporated under Maryland law on February 23, 1988. The Company consists of
the following two portfolios ("Funds") and their respective classes: Equity
Series ("Global Equity Fund"), Class A, B, C, and P shares; and Income Series
("Global Income Fund"), Class A, B, C, and P shares. As of the date of this
report, no P shares have been issued for Global Equity Fund. Global Equity Fund
is diversified as defined under the Act. Global Income Fund is non-diversified.
Global Equity Fund's investment objective is long-term growth of capital and
income consistent with reasonable risk. The production of current income is a
secondary consideration. Global Income Fund's investment objective is high
current income consistent with reasonable risk. Capital appreciation is a
secondary consideration. Each class of shares has different expenses and
dividends. A front-end sales charge is normally added to the net asset value
("NAV") for Class A shares. There is no front-end sales charge in the case of
the Class B, C, and P shares, although there may be a contingent deferred sales
charge ("CDSC") as follows: certain redemptions of Class A shares made within 24
months following any purchase made without a sales charge; Class B shares
redeemed before the sixth anniversary of purchase; and Class C shares redeemed
before the first anniversary of purchase. Class B shares will convert to Class A
shares on the eighth anniversary of an original purchase of Class B shares.
The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make
estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of increases and decreases in
net assets from operations during the reporting period. Actual results could
differ from those estimates.
2. SIGNIFICANT ACCOUNTING POLICIES
(a) INVESTMENT VALUATION-Securities traded on any recognized U.S. or non-U.S.
exchange or on NASDAQ, Inc. are valued at the last sale price or official
closing price on the exchange or system on which they are principally
traded. Unlisted equity securities are valued at last quoted sale price or,
if no sale price is available, at the mean between the most recently quoted
bid and asked prices. Fixed income securities are valued at the mean between
the bid and asked prices on the basis of prices supplied by independent
pricing services, which reflect broker/dealer supplied valuations and
electronic data processing techniques. Exchange-traded options and futures
contracts are valued at the last sales price in the market where they are
principally traded. If no sale has occurred, the mean between the most
recently quoted bid and asked prices is used. Securities for which market
quotations are not readily available are valued at fair value as determined
by management and approved in good faith by the Board of Directors.
Short-term securities with 60 days or less remaining to maturity are valued
using the amortized cost method, which approximates current market value.
(b) SECURITY TRANSACTIONS-Security transactions are recorded as of the date that
the securities are purchased or sold (trade date). Realized gains and losses
on sales of portfolio securities are calculated using the identified-cost
method. Realized and unrealized gains or losses are
29
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
allocated to each class of shares based upon the relative proportion of net
assets at the beginning of the day.
(c) INVESTMENT INCOME-Dividend income is recorded on the ex-dividend date.
Interest income is recorded on the accrual basis. Discounts are accreted and
premiums are amortized using the effective interest method. Investment
income is allocated to each class of shares based upon the relative
proportion of net assets at the beginning of the day.
(d) FEDERAL TAXES-It is the policy of each Fund to meet the requirements of
Subchapter M of the Internal Revenue Code applicable to regulated investment
companies and to distribute substantially all taxable income and capital
gains to its shareholders. Therefore, no federal income tax provision is
required.
(e) EXPENSES-Expenses incurred by the Company that do not specifically relate to
an individual Fund are allocated to the Funds within the Company on a pro
rata basis. Expenses, excluding class specific expenses, are allocated to
each class of shares based upon the relative proportion of net assets at the
beginning of the day. Class A, B, C and P shares bear all expenses and fees
relating to their respective 12b-1 Distribution Plans.
(f) FOREIGN TRANSACTIONS-The books and records of the Funds are maintained in
U.S. dollars and transactions denominated in foreign currencies are recorded
in the Funds' records at the rate prevailing when earned or recorded. Asset
and liability accounts that are denominated in foreign currencies are
adjusted to reflect current exchange rates. The resultant exchange gains and
losses are included as net realized gain (loss) on investments, futures
contracts and foreign currency related transactions on the Statements of
Operations. The Funds do not isolate that portion of the results of
operations arising as a result of changes in the foreign exchange rates from
the changes in market prices of the securities.
(g) FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS-The Funds may enter into forward
foreign currency exchange contracts in order to reduce their exposure to
changes in foreign currency exchange rates on their foreign portfolio
holdings and to lock in the U.S. dollar cost of firm purchase and sale
commitments for securities denominated in foreign currencies. A forward
foreign currency exchange contract is a commitment to purchase or sell a
foreign currency at a future date at a negotiated rate. The contracts are
valued daily at forward exchange rates and any unrealized gain or loss is
included in net unrealized appreciation (depreciation) on investments and
translation of assets and liabilities denominated in foreign currencies on
the Statements of Operations. The gain or loss arising from the difference
between the U.S. dollar cost of the original contract and the value of the
foreign currency in U.S. dollars upon closing of such contracts is included
in net realized gain or loss on investments, futures contracts and foreign
currency related transactions on the Statements of Operations.
(h) FUTURES CONTRACTS-Futures contracts are marked to market daily and the
variation margin is recorded as an unrealized gain or loss. When a contract
is closed, a realized gain or loss is recorded equal to the difference
between the opening and closing value of the contract. Generally, open
futures contracts are marked to market for federal income tax purposes at
fiscal year-end. As of June 30, 2004, there are no open futures contracts.
(i) SECURITIES LENDING-Each Fund may lend its securities to member banks of the
Federal Reserve System and to registered broker/dealers approved by the
Company. The loans are collateralized at all times by cash and/or U.S.
Treasury securities in an amount at least equal
30
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
to 102% of the market value of the domestic securities loaned (105% in the
case of foreign securities loaned) as determined at the close of business on
the preceding business day. The dividend and interest income earned on the
securities loaned is accounted for in the same manner as other dividend and
interest income. Lending portfolio securities could result in a loss or
delay in recovering the Company's securities if the borrower defaults.
(j) REPURCHASE AGREEMENTS-Each Fund may enter into repurchase agreements with
respect to securities. A repurchase agreement is a transaction in which a
fund acquires a security and simultaneously commits to resell that security
to the seller (a bank or securities dealer) at an agreed-upon price on an
agreed-upon date. Each Fund requires at all times that the repurchase
agreement be collateralized by cash, U.S. Government securities or U.S.
Government sponsored enterprises securities having a value equal to, or in
excess of, the value of the repurchase agreement. If the seller of the
agreement defaults on its obligation to repurchase the underlying securities
at a time when the value of these securities has declined, the fund may
incur a loss upon disposition of the securities.
(k) MORTGAGE DOLLAR ROLLS-Global Income Fund may enter into mortgage dollar
rolls in which the Fund sells securities for delivery in the current month
and simultaneously contracts with the same counterparty to repurchase
similar but not identical securities on a specified future date. During the
roll period, the Fund loses the right to receive principal (including
prepayments of principal) and interest paid on the securities sold. However,
the Fund may benefit from the interest earned on the cash proceeds of the
securities sold until the settlement date of the forward purchase. The Fund
will hold and maintain, in a segregated account, until the settlement date,
cash or liquid securities in an amount equal to the forward purchase price.
The benefits derived from the use of mortgage dollar rolls depend upon the
Fund's ability to manage mortgage prepayments. There is no assurance that
mortgage dollar rolls can be successfully employed.
(l) REDEMPTION FEES-Global Equity Fund may impose a 2.00% redemption fee of the
NAV of the shares being redeemed or exchanged within ten business days or
less after such shares were acquired. This does not include shares acquired
through the reinvestment of dividends or other distributions or certain
automatic or systematic investment, exchange or withdrawal plans. The fees
are retained by the Fund and are included as paid in capital on the
Statement of Asset and Liabilities. During the six months ended June 30,
2004, the Fund collected $542 of redemption fees.
3. MANAGEMENT FEE AND OTHER TRANSACTIONS WITH AFFILIATES
MANAGEMENT FEE
The Company has a management agreement with Lord, Abbett & Co. LLC ("Lord
Abbett") pursuant to which Lord Abbett supplies the Company with investment
management services and executive and other personnel, pays the remuneration of
officers, provides office space and pays for ordinary and necessary office and
clerical expenses relating to research and statistical work and supervision of
the Company's investment portfolios.
The management fee is based on average daily net assets at the following annual
rates:
- --------------------------------
<Table>
Global Equity Fund .75%
Global Income Fund .50%
</Table>
31
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
Lord Abbett provides certain administrative services to each Fund pursuant to an
Administrative Services Agreement at an annual rate of .04% of each Fund's
average daily net assets.
12b-1 DISTRIBUTION PLANS
Each Fund has adopted a distribution plan with respect to one or more classes of
shares pursuant to Rule 12b-1 of the Act, which provides for the payment of
ongoing distribution and service fees to Lord Abbett Distributor LLC
("Distributor"), an affiliate of Lord Abbett. The fees are accrued daily at
annual rates based upon average daily net assets as follows:
<Table>
<Caption>
FEE CLASS A CLASS B CLASS C CLASS P
- --------------------------------------------------------------------------------
Service .25% .25% .25% .20%
Distribution .10%(1) .75% .75% .25%
</Table>
(1) In addition, each Fund pays a one-time distribution fee of up to 1% on
certain qualifying purchases, which is generally amortized over a two-year
period. Global Equity Fund and Global Income Fund collected $376 and $2,586
respectively, of CDSCs during the six months ended June 30, 2004.
COMMISSIONS
Distributor received the following commissions on sales of Class A shares of the
Funds after concessions were paid to authorized dealers for the six months ended
June 30, 2004:
<Table>
<Caption>
DISTRIBUTOR DEALERS'
COMMISSIONS CONCESSIONS
- --------------------------------------------------------------------------------
Global Equity Fund $ 27,922 $ 149,670
Global Income Fund 7,876 39,663
</Table>
One Director and certain of the Company's officers have an interest in Lord
Abbett.
4. DISTRIBUTIONS AND CAPITAL LOSS CARRYFORWARD
Dividends from net investment income, if any, are declared and paid
semi-annually for Global Equity Fund, and declared daily and paid monthly for
Global Income Fund. Taxable net realized gains from investment transactions,
reduced by capital loss carryforwards, if any, are declared and distributed to
shareholders at least annually. The capital loss carryforward amount is
available to offset future net capital gains. Dividends and distributions to
shareholders are recorded on the ex-dividend date. The amount of dividends and
distributions from net investment income and net realized capital gains are
determined in accordance with federal income tax regulations which may differ
from accounting principles generally accepted in the United States of America.
These book/tax differences are either considered temporary or permanent in
nature. To the extent these differences are permanent in nature, such amounts
are reclassified within the components of net assets based on their federal tax
basis treatment; temporary differences do not require reclassification.
Dividends and distributions which exceed net investment income and net realized
capital gains for tax purposes are reported as distributions of paid-in capital.
32
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
The tax character of distributions paid during the six months ended June 30,
2004 and the fiscal year ended December 31, 2003 are as follows:
<Table>
<Caption>
GLOBAL EQUITY FUND GLOBAL INCOME FUND
- --------------------------------------------------------------------------------------
SIX MONTHS SIX MONTHS
ENDED ENDED
6/30/2004 YEAR ENDED 6/30/2004 YEAR ENDED
(UNAUDITED) 12/31/2003 (UNAUDITED) 12/31/2003
- --------------------------------------------------------------------------------------
Distributions paid from:
Ordinary income $ - $ 85,217 $ 1,258,379 $ 3,059,647
- --------------------------------------------------------------------------------------
Total distributions paid $ - $ 85,217 $ 1,258,379 $ 3,059,647
======================================================================================
</Table>
As of December 31, 2003, the capital loss carryforwards along with the related
expiration dates are as follows:
<Table>
<Caption>
2004 2005 2007 2008 2009 2010 TOTAL
- -------------------------------------------------------------------------------------------------------------------------
Global Equity Fund $ - $ - $ - $ - $ 4,576,424 $ 7,617,492 $ 12,193,916
Global Income Fund 3,050,476 680,831 1,473,226 2,677,712 3,056,190 - 10,938,435
</Table>
As of June 30, 2004, the Funds' aggregate unrealized security gains and losses
based on cost for U.S. federal income tax purposes are as follows:
<Table>
<Caption>
GLOBAL EQUITY FUND GLOBAL INCOME FUND
- --------------------------------------------------------------------------------
Tax cost $ 68,785,752 $ 67,290,344
- --------------------------------------------------------------------------------
Gross unrealized gain 3,113,534 2,919,828
Gross unrealized loss (1,972,020) (374,716)
- --------------------------------------------------------------------------------
Net unrealized security gain (loss) $ 1,141,514 $ 2,545,112
================================================================================
</Table>
The difference between book-basis and tax-basis unrealized gains (losses) is
primarily attributable to wash sales and other temporary tax adjustments.
5. PORTFOLIO SECURITIES TRANSACTIONS
At June 30, 2004, the value of securities loaned for the Global Equity Fund and
Global Income Fund are $4,386,896 and $267,734, respectively. These loans are
collateralized by cash of $4,547,289 and $273,125 which is invested in a
restricted money market account, and for the Global Income Fund in U.S. Treasury
securities with a value of $44,735. In connection with the securities lending
program, State Street Bank and Trust Company ("SSB") received fees of $6,259 and
$124 for the six months ended June 30, 2004, which are netted against securities
lending income on the Statements of Operations.
Purchases and sales of investment securities (other than short-term investments)
for the six months ended June 30, 2004 are as follows:
<Table>
<Caption>
U.S. NON-U.S. U.S. NON-U.S.
GOVERNMENT GOVERNMENT GOVERNMENT GOVERNMENT
PURCHASES* PURCHASES SALES SALES
- -------------------------------------------------------------------------------------
Global Equity Fund $ - $ 84,338,149 $ - $ 82,745,169
Global Income Fund 85,649,899 21,969,457 87,966,648 21,651,895
</Table>
* Includes U.S. Government sponsored enterprises securities.
33
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
6. DIRECTORS' REMUNERATION
The Company's officers and the one Director who are associated with Lord Abbett
do not receive any compensation from the Company for serving in such capacities.
Outside Directors' fees are allocated among all Lord Abbett-sponsored funds
based on the net assets of each fund. There is an equity based plan available to
all outside Directors under which outside Directors must defer receipt of a
portion of, and may elect to defer receipt of an additional portion of
Directors' fees. The deferred amounts are treated as though equivalent dollar
amounts had been invested proportionately in the funds. Such amounts and
earnings accrued thereon are included in Directors' fees on the Statements of
Operations and in Directors' fees payable on the Statements of Assets and
Liabilities and are not deductible for U.S. federal income tax purposes until
such amounts are paid.
7. EXPENSE REDUCTIONS
The Company has entered into arrangements with its transfer agent and custodian
whereby credits realized as a result of uninvested cash balances were used to
reduce a portion of the Funds' expenses.
8. LINE OF CREDIT
Global Equity Fund, along with certain other funds managed by Lord Abbett, has
available a $200,000,000 unsecured revolving credit facility ("Facility"), from
a consortium of banks, to be used for temporary or emergency purposes as an
additional source of liquidity to fund redemptions of investor shares. Any
borrowings under this Facility will bear interest at current market rates as
defined in the agreement. The fee for this Facility is an annual rate of .09%.
At June 30, 2004 there were no loans outstanding pursuant to this Facility nor
was the Facility utilized at any time during the six months ended June 30, 2004.
9. CUSTODIAN AND ACCOUNTING AGENT
State Street Bank and Trust Company ("SSB") is the Company's custodian and
accounting agent. SSB performs custodian, accounting and recordkeeping functions
relating to portfolio transactions and calculating each Fund's NAV.
10. INVESTMENT RISKS
Both Funds are subject to the risks of investing in securities that are issued
by non-U.S. entities. Foreign securities may pose greater risks than domestic
securities, including greater price fluctuation, less government regulation, and
higher transaction costs. Foreign investments also may be affected by changes in
currency rates or currency controls. With respect to foreign currency
transactions in which the Funds may engage, there is no guarantee that these
transactions will be successful. They may lower a fund's return or result in
significant losses.
Global Equity Fund is subject to the general risks and considerations associated
with equity investing. The value of an investment will fluctuate in response to
movements in the stock market in general and to the changing prospects of
individual companies in which Global Equity Fund invests. Although certain
companies in which Global Equity Fund may invest may exhibit
34
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONTINUED)
earnings and revenue growth above the market trend, the stocks of these
companies may be more volatile and may drop in value if earnings and revenue
growth do not meet expectations.
Global Income Fund is subject to the general risks and considerations associated
with investing in fixed income securities. The value of an investment will
change as interest rates fluctuate and in response to market movements. When
interest rates rise, the prices of fixed income securities are likely to
decline; when rates fall, such prices tend to rise. Longer-term securities are
usually more sensitive to interest rate changes. The mortgage-related securities
in which Global Income Fund may invest, including those of such government
sponsored enterprises as Federal Home Loan Mortgage Corporation and Federal
National Mortgage Association, may be particularly sensitive to changes in
prevailing interest rates due to prepayment risk. There is also the risk that an
issuer of a fixed income security will fail to make timely payments of principal
or interest to Global Income Fund, a risk that is greater with high yield bonds
(sometimes called "junk bonds") in which Global Income Fund may invest. Some
issuers, particularly of high yield bonds, may default as to principal and/or
interest payments after Global Income Fund purchases its securities. A default,
or concerns in the market about an increase in risk of default, may result in
losses to the Fund. High yield bonds are subject to greater price fluctuations,
as well as additional risks.
These factors can affect Fund performance.
11. SUMMARY OF CAPITAL TRANSACTIONS
Transactions in shares of capital stock are as follows:
GLOBAL EQUITY FUND
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED
JUNE 30, 2004 (UNAUDITED) DECEMBER 31, 2003
- --------------------------------------------------------------------------------------------
SHARES AMOUNT SHARES AMOUNT
- --------------------------------------------------------------------------------------------
CLASS A SHARES
Shares Sold 593,378 $ 6,296,798 1,847,467 $ 17,227,079
Reinvestment of distributions 2 22 7,926 81,162
Shares reacquired (547,284) (5,843,564) (1,341,247) (11,889,867)
- --------------------------------------------------------------------------------------------
Increase 46,096 $ 453,256 514,146 $ 5,418,374
- --------------------------------------------------------------------------------------------
CLASS B SHARES
Shares Sold 159,045 $ 1,622,407 209,706 $ 1,851,658
Reinvestment of distributions - - - -
Shares reacquired (88,340) (897,826) (135,772) (1,186,100)
- --------------------------------------------------------------------------------------------
Increase 70,705 $ 724,581 73,934 $ 665,558
- --------------------------------------------------------------------------------------------
CLASS C SHARES
Shares Sold 166,987 $ 1,696,234 183,026 $ 1,646,733
Reinvestment of distributions - - - -
Shares reacquired (40,189) (408,893) (75,083) (672,740)
- --------------------------------------------------------------------------------------------
Increase 126,798 $ 1,287,341 107,943 $ 973,993
- --------------------------------------------------------------------------------------------
</Table>
35
<Page>
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)(CONCLUDED)
GLOBAL INCOME FUND
- --------------------------------------------------------------------------------
<Table>
<Caption>
SIX MONTHS ENDED YEAR ENDED
JUNE 30, 2004 (UNAUDITED) DECEMBER 31, 2003
- --------------------------------------------------------------------------------------------
SHARES AMOUNT SHARES AMOUNT
- --------------------------------------------------------------------------------------------
CLASS A SHARES
Shares Sold 589,455 $ 4,349,266 1,170,464 $ 8,359,557
Reinvestment of distributions 120,596 883,387 307,572 2,190,320
Shares reacquired (1,006,451) (7,363,553) (1,915,454) (13,622,012)
- --------------------------------------------------------------------------------------------
Decrease (296,400) $ (2,130,900) (437,418) $ (3,072,135)
- --------------------------------------------------------------------------------------------
CLASS B SHARES
Shares Sold 230,103 $ 1,699,630 461,706 $ 3,273,220
Reinvestment of distributions 7,261 53,288 17,910 128,030
Shares reacquired (96,310) (702,029) (390,810) (2,741,178)
- --------------------------------------------------------------------------------------------
Increase 141,054 $ 1,050,889 88,806 $ 660,072
- --------------------------------------------------------------------------------------------
CLASS C SHARES
Shares Sold 181,576 $ 1,341,854 406,649 $ 2,925,997
Reinvestment of distributions 8,878 65,138 17,506 125,347
Shares reacquired (112,453) (831,093) (155,874) (1,105,614)
- --------------------------------------------------------------------------------------------
Increase 78,001 $ 575,899 268,281 $ 1,945,730
- --------------------------------------------------------------------------------------------
CLASS P SHARES
Shares Sold 36,485 $ 269,690 234,202 $ 1,665,525
Reinvestment of distributions -(a) - -(a) 2
Shares reaquired (293,966) (2,105,505) (134,029) (953,127)
- --------------------------------------------------------------------------------------------
Increase (Decrease) (257,481) $ (1,835,815) 100,173 $ 712,400
- --------------------------------------------------------------------------------------------
</Table>
(a) Amount represents less than 1 share.
36
<Page>
HOUSEHOLDING
The Company has adopted a policy that allows it to send only one copy of the
Funds' Prospectus, proxy material, annual report and semi-annual report to
certain shareholders residing at the same "household." This reduces Fund
expenses, which benefits you and other shareholders. If you need additional
copies or do not want your mailings to be "householded," please call Lord Abbett
at 800-821-5129 or send a written request with your name, the name of your fund
or funds and your account number or numbers to Lord Abbett Family of Funds, P.O.
Box 219336, Kansas City, MO 64121.
PROXY VOTING POLICIES AND PROCEDURES
A description of the policies and procedures that Lord Abbett uses to vote
proxies related to the Fund's portfolio securities is available without charge,
upon request, (i) by calling 888-522-2388; (ii) on Lord Abbett's web site at
www.LordAbbett.com, and (iii) on the Securities and Exchange Commission's
("SEC") website at www.sec.gov.
SHAREHOLDER REPORTS AND QUARTERLY PORTFOLIO DISCLOSURE
The Company will be required to file its complete schedule of portfolio holdings
with the SEC for its first and third fiscal quarters on Form N-Q for fiscal
quarters ending on or after July 9, 2004. Once filed, the Funds' Forms N-Q will
be available without charge, upon request on the SEC's website at www.sec.gov
and may be available by calling Lord Abbett at 800-821-5129; or on Lord Abbett's
website at www.LordAbbett.com. You can also obtain copies of Form N-Q by (i)
visiting the SEC's Public Reference Room in Washington, DC (information on the
operation of the Public Reference Room may be obtained by calling
1-800-SEC-0330); (ii) sending your request and a duplicating fee to the SEC's
Public Reference Room, Washington, DC 20549-0102; or (iii) sending your request
electronically to publicinfo@sec.gov.
37
<Page>
[LORD ABBETT(R) LOGO]
This report when not
used for the general
information of shareholders
of the Fund, is to be distributed
only if preceded or accompanied
by a current Fund Prospectus.
Lord Abbett Global Fund, Inc.
Lord Abbett Mutual Equity Series
Fund shares are distributed Income Series
by:
LORD ABBETT DISTRIBUTOR LLC
90 Hudson Street - Jersey City, LAGF-3-604
New Jersey 07302-3973 (8/04)
<Page>
ITEM 2: CODE OF ETHICS.
Not applicable
ITEM 3: AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable.
ITEM 4: PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable.
ITEM 5: AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable.
ITEM 6: SCHEDULE OF INVESTMENTS.
Not applicable.
ITEM 7: DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END
MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 8: PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 9: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
Not Applicable.
ITEM 10: CONTROLS AND PROCEDURES.
(a) Based on their evaluation of the Registrant's disclosure controls
and procedures (as defined in Rule 30a-3(c) under the Investment
Company Act of 1940) as of August 25, 2004, the Chief Executive
Officer and Chief Financial Officer of the Registrant have concluded
that such disclosure controls and procedures are reasonably designed
and effective to ensure that material information relating to the
Registrant, including its consolidated subsidiaries, is made known
to them by others within those entities.
(b) There were no significant changes in the Registrant's internal
controls over financial reporting (as defined in Rule 30a-3(d) under
the Investment Company Act of 1940) that occurred during the
Registrant's last fiscal half-year that have materially affected, or
are reasonably likely to materially affect, the Registrant's
internal control over financial reporting.
<Page>
ITEM 11: EXHIBITS.
ITEM 11(a): NOT APPLICABLE.ITEM 11(b):
(i) Certification of each principal executive officer and principal
financial officer of the Registrant as required by Rule 30a-2 under
the Act (17 CFR 270.30a-2) is attached hereto as a part of
EX-99.CERT.
(ii) Certification of each principal executive officer and principal
financial officer of the Registrant as required by Section 906 of
the Sarbanes-Oxley Act of 2002 is attached hereto as a part of
EX-99.906CERT.
<Page>
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the
Investment Company Act of 1940, the Registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
LORD ABBETT GLOBAL FUND, INC.
/s/Robert S. Dow
----------------
Robert S. Dow
Chief Executive Officer,
Chairman and President
/s/Joan A. Binstock
-------------------
Joan A. Binstock
Chief Financial Officer and Vice President
Date: August 25, 2004
<Page>
Pursuant to the requirements of the Securities and Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
dates indicated.
LORD ABBETT GLOBAL FUND, INC.
/s/Robert S. Dow
----------------
Robert S. Dow
Chief Executive Officer,
Chairman and President
/s/Joan A. Binstock
-------------------
Joan A. Binstock
Chief Financial Officer and Vice President
Date: August 25, 2004