Lazard merges International Equity into Global Income

Lazard Asset Management has closed its International Equity fund and merged the assets into the rece...

Lazard Asset Management has closed its International Equity fund and merged the assets into the recently launched Global Equity Income offering. Michael Fry heads up the £18m International Equity vehicle but will not be departing as a result of the merger. Patrick Ryan runs the £8m Global Equity Income, which launched in October. Lazard MD and head of UK third-party distribution Charlie Wilson said the merger was down to a shift in inv-estor needs. "Due to a change in investor appetite, we have seen some substantial assets from International Equity switched into other Lazard strateg...