Lazard Asset Management has announced the US launch of the Lazard Developing Markets Equity Portfolio, a new emerging markets fund.
The new emerging markets mutual fund, available to both institutional and individual investors, uses a bottom-up stock selection process and a relative growth strategy.
The Lazard Developing Markets Equity Portfolio, co-managed by portfolio managers Kevin O’Hare and Peter Gillespie, will primarily invest in securities and countries in the MSCI Emerging Markets Index. The team takes a fundamental approach to stock selection and portfolio construction that includes evaluating each security individually for political, corporate governance, macro and portfolio risk.
The fund will generally invest in approximately 60 to 90 emerging market securities whose companies have a market capitalization of over $300 million. Companies that have more than 50% of their net assets or sales from emerging markets may also be included.
James Donald, managing director and head of emerging markets at Lazard, said: We created the Lazard Developing Markets Equity Portfolio for investors who want a growth alternative to value investing in emerging markets. This new fund will invest in emerging market companies with sustainable earnings power and the potential to provide growth at a reasonable price.