Lazard unveils Global Equity Income fund

The UK-domiciled OEIC has a 5% target yield and aims to offer yield and capital growth. Lazard based the fund on the Lazard World Dividend Equity strategy, which has produced a yield of 5.8% over the year to 30 June. The portfolio will feature 60 to 100 of the highest yielding stocks from Lazard’s 900 existing holdings in diversified regions and sectors, with a 25% maximum investment in emerging markets. The fund will typically invest in stocks with a market capitalisation of more than $3bn (£1.4bn), and may invest up to 10% in stocks outside of Lazard portfolios. Patrick Ryan, one ...