| Change Details | |
|---|---|
| Title | Lazard Global Equity Income |
| Type | Objective and policy changes |
| Companies Impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Effective Date | 22 July 2024 |
| 1. Fund details | |
| Companies impacted | Quilter Life & Pensions Limited Quilter Investment Platform Limited |
| Fund Group | Lazard Fund Managers Limited |
| Fund Name | Lazard Global Equity Income |
| Type of change | Objective change |
| Date change effective from | 22/07/2024 |
| Is the event subject to shareholder approval? | No |
| 2. Target benchmark | |
| Previous Target benchmark | New Target benchmark |
| MSCI All Country World Value Index | MSCI All Country World Index |
| 3. Investment objective and policy | |
| Previous objective and policy | New Objective and policy |
| To outperform the MSCI All Country World Value Index, while generating income, over at least 5 years. The fund will invest at least 70% in global equities and equity related securities, including common and preferred stock and depositary receipts. Leveraging Lazard’s global equity research capabilities, the fund will invest in financially productive and attractively valued securities that are currently or are likely to begin to generate significant income from dividend distributions. The fund’s investments will typically consist of holdings in companies having greater than US$300 million (or relevant currency equivalent) in market capitalisation with liquid quoted securities. The fund is actively managed and may invest in companies anywhere in the world and in any industry sector. |
To provide income over the long term (at least 5 years). The fund also seeks to outperform the MSCI All Country World Index over rolling 5 year periods, after the deduction of charges. The fund will invest at least 70% in global equities and equity related securities, including common and preferred stock and depositary receipts. Leveraging Lazard’s quantitative advantage team’s research capabilities and stock selection process, the fund will consider four key criteria of a company’s attractiveness: its valuation relative to peers; its sentiment in the market; an evaluation of how much growth it is likely to achieve; and the quality of its business. Companies selected for the fund may exhibit any one or more of these criteria. In addition, the fund will incorporate the likelihood of the company to distribute dividends. The fund’s investment will typically consist of holdings in companies having greater than US$300 million (or relevant currency equivalent) in market capitalisation with liquid quoted securities. The fund is actively managed and may invest in companies anywhere in the world and in any industry sector. |