Lazards rethinks portfolio service

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Lazard Asset Management is revamping its Personal Portfolio Service to offer a fixed monthly payment...

Lazard Asset Management is revamping its Personal Portfolio Service to offer a fixed monthly payment option and an Isa link. The fixed payment option lets investors take up to 7.5% of the annual value of their investment, monthly by direct credit. All portfolios with fixed monthly payments are also monitored by a safety net review. If annual payments exceed 10% of the portfolio value, a review of the amount being withdrawn from the fund is triggered. If payments start exceeding 15% of the portfolio value over 12 months then payments are suspended after 90 days' notice. Clients may overri...

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