Lazard Australian Equity Fund (W Class)
About this Fund
Fund Detail
PDS | https://informedinvestor.com.au/view/pds/101062-2023-10-31-02:31.pdf |
FUND MANAGER | Lazard Asset Management Pacific Co. |
ASX Code | |
APIR | LAZ0010AU |
ASSET CLASS | AUSTRALIAN EQUITIES |
INVESTMENT STYLE | The investment strategy of the Fund is to provide investors with access to companies listed on the Australian Securities Exchange that Lazard believes are out of favour and trading below their intrinsic value. The number of stocks will generally range from 25 to 45 which means Lazard makes active investment decisions as to which stocks the Fund holds. |
INVESTMENT PROFILE | The Fund seeks to achieve total returns (including income and capital appreciation and before the deduction of fees and taxes) that exceed those of the S&P/ASX 200 Accumulation Index (“the benchmark”) over the long term. |
CURRENCY MANAGEMENT | Unhedged |
INCEPTION DATE | 16-12-2002 |
BENCHMARK | S&P/ASX 200 Accumulation Index |
FUND SIZE | S&P/ASX 200 Accumulation Index |
DISTRIBUTION FREQUENCY | Quarterly |
NO. OF HOLDINGS | 25-45 |
FEES | 0.70% p.a. of the NAV |
STRUCTURE |
Benefits
Benefits | Benefits of investing in the Lazard Australian Equity Fund (W Class)Lazard believes some of the significant benefits of investing in the Fund are:
Risk levelHigh Investor suitabilityInvestors seeking an investment return objective similar to the Fund and are comfort- able with the risks of investing, as described in the PDS. |
RISK LEVEL | |
INVESTOR SUITABILITY |
Risks
Title | |
Detail |
Key Features
About the FundThe Lazard Australian Equity Fund takes large active positions, holding generally 25 to 45 securities chosen for their potential to deliver absolute returns over the long term. It is a high conviction portfolio but key benchmark risks are also taken into consideration when constructing the portfolio. The Fund's objective is to achieve total returns (including income and capital appreciation and before the deduction of fees and taxes) that exceed those of the S&P/ASX 200 Accumulation Index by 3% per annum over rolling three-year periods. |
Mandate
How we invest your moneyThe investment strategy of the Fund is to provide investors with access to companies listed on the Australian Securities Exchange that Lazard believes are out of favour and trading below their intrinsic value. The number of stocks will generally range from 25 to 45 which means Lazard makes active investment decisions as to which stocks the Fund holds. The Fund may hold a position up to a weighting of benchmark +3% in any one com- pany at the time of purchase and a minimum company weight of benchmark -3%. The Fund may retain securities which were listed on the Australian Securities Exchange when acquired, even if those securities subsequently cease to be listed on that market. The Fund, however, will not add to such holdings except as part of any type of corporate action. If these securities are denominated or pay dividends in a currency other than Australian dollars, the Fund will not generally hedge the currency exposure back to Australian dollars. The Fund may also invest in initial public offerings which are expected to be listed within 3 months from the date of purchase. Asset classes and range
Within this range the Fund may also invest up to 10% in the equities of companies listed on the New Zealand Stock Exchange.
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