Lazard Asset Management has launched a concentrated US equity fund for UK investors.
The Lazard US Equity Concentrated Ucits fund will invest in around 20 stocks across the market cap spectrum, using bottom-up stock selection.
The fund will be managed by Christopher Blake and Martin Flood from New York. It will mirror the existing US-run fund of the same name.
Lazard is intending the fund to be used alongside ETF and index exposures for UK investors adopting a core and satellite approach.
“We believe that the concentrated, high active share approach employed in our fund can complement passive investments,” says Blake.
Flood says: “We believe that the US opportunity set is extremely attractive as it is the largest and most liquid market worldwide.
“Furthermore, US companies represent some of the most financially productive globally, with healthy balance sheets, strong earnings, robust free cash flow and reasonable valuations.”
Lazard recently launched a Ucits version of its long-short US equity strategy, the US Fundamental Alternative fund, also run in New York by portfolio managers Dmitri Batsev and Jerry Liu.