Lazard Asset Management Launches New Real Assets Fund

Jan 20 2017 | 10:13pm ET

Lazard Asset Management has debuted a new liquid alternative fund based on the company’s existing real assets strategy.

The new open-end fund, named Lazard Real Assets and Pricing Opportunities Portfolio, trades under the symbol RALOX and invests in liquid real assets, including REITs, listed infrastructure companies, commodity futures, companies affected by commodity prices and broader inflation trends, and global inflation-linked bonds. An institutional version trades under RALIX. 

Lazard’s multi-asset team has managed the real asset strategy for nearly two years, the company said in a statement, and manages more than $4.2 billion in assets across a wide range of strategies. The new fund aims to provide a multi-faceted defense against different inflationary forces while seeking to generate current income and capital appreciation. 

“After over 30 years of low inflation, conditions are in place for accelerating price increases, particularly in the United States,” said Ronald Temple, managing director and co-head of multi-asset at LAM. “We believe investors should evaluate their portfolios to ensure that they are protected against the possibility of a structural shift toward higher rates of inflation in the future.”

“No single asset effectively protects investors against the many potential sources of inflation,” said Jai Jacob, portfolio manager of the Fund. “By leveraging liquid investment options, we believe a multi-asset approach can more effectively defend against a range of inflation drivers.”

An indirect subsidiary of financial services giant Lazard, Lazard Asset Management offers a range of equity, fixed income, and alternative investment products worldwide. As of September 30, 2016, LAM and affiliated asset management companies in the Lazard Group managed $205 billion worth of client assets. 

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