Lazard AM launches global equity income mirror fund
Lazard Asset Management has launched an offshore version of Pat Ryan's £327m Lazard Global Equity Income fund.
The Dublin-domiciled fund mirrors the existing onshore fund and will offer both US dollar and sterling share classes.
The group's head of third party distribution, Tony Maddock, said: “The launch of this offshore version of the Global Equity Income fund has been very much driven by client demand, and will satisfy the needs of those that prefer to access funds that are domiciled offshore.”
In the three years to 25 February 2014, the onshore fund returned 24.9%, compared to a sector average of 30.9%, according to FE.
The move comes after Old Mutual Global Investors announced the launch of an offshore mirror version of Richard Buxton’s £1bn Old Mutual UK Alpha fund, also domiciled in Dublin.
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