Lazard Asset Management (LAM) has unveiled a new Lazard Emerging Markets Income Portfolio for investors seeking yield-based total return.
The new fund will deliver capital appreciation and income from exposure to emerging-market currency and local debt markets, with a short duration bias.
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Designed to have low correlation to equity and debt indices, the fund will offer diversification benefits for investors.
The Emerging Markets Income Fund will be managed by Ardra Belitz and Ganesh Ramachandran, managing directors and portfolio managers on Lazard’s Emerging Income team respectively.
Belitz said: "The Emerging Markets Income Portfolio offers an attractive solution for investors seeking yield-based total return from non-traditional sources, while the strategy’s low volatility mitigates entry-point risk relative to other emerging market asset classes."
"The Portfolio has the potential to benefit in a period of rising interest rates as global demand conditions improve, given the favorable implications for emerging market local currency valuations following sizeable depreciation in recent years," added Ramachandran.
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By GlobalDataLAM manages over $60 billion in emerging markets equity and debt assets globally as of 31 March 2014.
