Lazard launches global income fund

Lazard launches first UK retail offering for two-and-a-half years.

Lazard is to launch a global income fund later this month, its first UK retail offering for two-and-a-half years. Global Equity Income, which comes to the market on October 22, will target a 5% yield and invest in between 60 and 100 stocks. It will be managed by Patrick Ryan out of New York, who currently manages World Dividend Equity, a US mutual fund run using a similar strategy. The US fund has delivered a 5.8% annual yield in its first two years since launch, with 15.1% annualised growth, and Ryan is confident he can replicate this in the UK. “Demographics are changing across th...