Lazard closes income class on euro small-cap fund

Lazards closed the retail and institutional income share classes on its European Smaller Companies f...

Lazards closed the retail and institutional income share classes on its European Smaller Companies fund from the beginning of this month. The group said the move was in recognition of the low dividend yields in smaller-cap stocks in Europe, which it expects to continue. Currently the historic yield of the fund is 0.57% and so there is a minimal dividend to distribute.