Lazard Asset Management has launched the Lazard Global Commodities fund, seeking to outperform the Bloomberg Commodity Total Return Index with less volatility.
The strategy will be run by Terrence Brennan and the manager’s commodities team including portfolio manager analysts Michael Bernadiner and Edouardo Gonzalez as well as client portfolio manager Caroline Abramo.
The fund’s investment philosophy relies on value generation through fundamental analysis of commodity futures and related equities. It takes into account ESG considerations.
“We are launching this fund in response to investor demand.” said Tony Maddock, head of Third Party Distribution at LAML. “With increased concerns about duration risk and rising inflationary pressures, it is important for our clients to have the right commodities exposure within their portfolios,” he added.
The fund is available to UK and European investors.
Lazard Asset Management and affiliated asset managers in the Lazard Group managed $252bn (€215.8bn) of assets as of end March 2018.