Lazard Global Equity Income fund

Andy Parsons, advice team manager at The Share Centre, outlines why investors seeking income and long term capital growth might want to consider investing in global income with the Lazard Global Equity Income fund.

"The number of global equity income funds has expanded in recent years as investors have sought income from outside the UK shorelines with the realization that overseas companies could often offer dividend yields higher than those found in the UK (for example in Continental Europe and Asia Pacific).

"The fund is suitable for those investors who wish to truly diversify their portfolio and who have an appreciation that geographical location should not necessarily be seen as a barrier to investment as they often have products and services that affect our every day lives.

"Launched in October 2007, the fund is co-managed by Patrick Ryan, Andrew Lace and Kyle Waldhaeur. The underlying investments will generally have a bias towards large and mid cap companies, and investors has the reassurance that a minimum of 90% of the stock chosen will already be held within other Lazard strategies.

"By the very nature of being a 'Global Equity Income' fund, the managers have a universe that is far greater and far more reaching than a country specific offering. However, the managers do have certain restrictions imposed upon them, most notably that no more than 25% of the portfolio can be invested in Emerging Markets, a maximum of 10% is allowed in companies with a market cap of less than $3bn and no more than 35% in any one sector.

"In terms of performance the Lazard Global Equity Income fund is currently yielding 3.70%, whilst in growth terms it has returned 24.21% in 2009 and has returned 6.87% year to date.  The fund has an annual management charge of 1.5% and an initial charge of 3.75%.

"As the fund features in The Share Centre's Platinum 120 range, customers wishing to invest in the Lazard Global Equity Income fund will not have to pay the initial charge or purchase dealing commission.  Customers can also invest in the fund from as little as £10".