Lazard Asset Management launches Rathmore Alternative Fund
LONDON, 2 May 2018 – Lazard Asset Management Limited (LAML), today announced the launch of the Lazard Rathmore Alternative Fund, a UCITS Fund that will be managed in tandem with the established Lazard Rathmore Strategy.
Lazard Rathmore is a global hedged convertible strategy that seeks absolute returns by dynamically allocating capital between two sub-strategies, which include capital structure and convertible arbitrage as well as special situations/event driven investing.
Launched in 2007, the Lazard Rathmore Strategy has delivered an annualised return of 8.6%, a Sharpe Ratio in excess of 2 and low correlation to broader equity markets and rates.
“We are launching this Fund in response to investor demand for a product that offers the opportunity for equity-like returns, with bond-like volatility, and very little sensitivity to interest rates, said Bill Smith, Chief Executive Officer of LAML. “The Lazard Rathmore strategy has focused on delivering attractive risk adjusted returns to investors across market cycles and the recent pick up in volatility creates an attractive tailwind for the Fund.”
Sean Reynolds, who has a 26-year investment career wholly dedicated to this asset class, leads the strategy and is supported by a team of 10 in New York.
“Our view is that the pick-up in volatility, which has been a feature of the market so far in 2018, is likely to persist for the foreseeable future,” said Sean Reynolds, portfolio manager of the Lazard Rathmore Alternative Fund. “In a rising volatility environment, the opportunity to generate excess returns with little sensitivity to interest rates should appeal to investors.”
An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM offers a range of equity, fixed income, and alternative investment products worldwide. As of 31 March 2018, LAM and affiliated asset management companies in the Lazard Group managed $252 billion worth of client assets.
Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 43 cities across 26 countries in North and South America, Europe, Asia and Australia. Celebrating its 175th year, the firm provides advice on mergers and acquisitions, capital markets and other strategic matters, restructuring and capital solutions, and asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit www.lazard.com. Follow Lazard at @Lazard.
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