Lazard Asset Management (LAM) has launched two open-end equity funds, expanding its international and global fund offerings.
Both funds seek capital appreciation through distinct investment approaches.
The Lazard International Equity Concentrated Portfolio is a multi-capitalisation, concentrated international equity portfolio. It invests in non-US companies judged by the investment team to have sustainably high or improving returns at attractive valuations.
“This portfolio seeks to leverage the richest insights of LAM’s international equity analysts,” says John Reinsberg, deputy chairman, international and global strategies. “It distils the intellectual capital of a USD30 billion international equity platform into a twenty-to-thirty-stock portfolio.”
The investment team comprises portfolio manager/analysts Kevin Matthews, Michael Bennett, Michael Fry, and Michael Powers, as well as Reinsberg. On average, each team member has 26 years of industry experience, more than half of which has been with LAM.
LAM’s second new fund, Lazard Global Strategic Equity Portfolio, invests around the world and across the market capitalisation spectrum. This portfolio is designed to participate in rising markets and its focus on valuations and financial productivity is intended to protect capital in declining markets. Like the Lazard International Equity Concentrated Portfolio, it focuses on stocks with attractive valuations and sustainably high or improving financial returns.
The investment team consists of portfolio manager/analysts Robin Jones, Mark Little, Barnaby Wilson and Reinsberg. On average, each team member has 21 years of industry experience, with 15 of those years spent with LAM.