Lazard Asset Management has launched two new fixed income funds, the Lazard Emerging Markets Debt Portfolio and the Lazard U.S. Municipal Portfolio.
“These two new mutual funds offer investors additional ways to diversify their portfolios with debt from emerging market countries and U.S. municipalities,” said Charles Carroll, a deputy chairman and head of global marketing at Lazard. “The emerging markets and fixed income investment teams managing these portfolios have a high degree of expertise and experience with their respective fixed income strategies. Both teams rely on fundamental security selection and use a disciplined approach to portfolio construction.”
The emerging markets fund has a flexible investment approach that will allow the portfolio management team to invest in the entire universe of emerging market debt, including hard and local currency instruments of sovereign, corporate and securitized debt, as well as derivatives. The fund will be managed by Denise Simon and Arif Joshi.
The municipal fund will invest in investment-grade U.S. municipal securities with an average weighted duration of two to seven years. Joe Ramos, George Grimbilas and John Senesac, Jr. are managers of this fund.