Lazard Fund Managers is to lose the services of Mark Pollard, European portfolio manager who worked ...
Lazard Fund Managers is to lose the services of Mark Pollard, European portfolio manager who worked on the group's European Alpha fund.
Pollard's resignation means Lazards now has a team of four portfolio managers covering the UK and continental Europe, supported by 12 analysts. He has not yet indicated where his future plans lie.
Rupert Tyer, director at Lazard Asset Management, said: 'Mark was part of a joint team which covers both the UK and Europe. The fund management of both of our core retail offerings, the Lazard UK Alpha fund and the Lazard European Alpha remains unchanged, with the remaining members of the team assuming Mark's responsibilities for the time being.'
Tyer also said the company had not made a decision on whether Pollard would be replaced, although he did say he thought performance would be unaffected because of Lazards' emphasis on a team process.
Lazards has been promoting the £140m European Alpha fund as a package called the Lazard Alpha Isa, along with the UK Alpha fund, managed by Tony Willis and Simon Roberts, as part of its Isa season campaign. The initial fee on the package has been reduced to 3.5%, from 3.75% until 30 April.
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