Lazard Asset Management (LAM) has launched a new mutual fund, Lazard Global Listed Infrastructure Portfolio (LGLIP), to both institutional and individual investors in the US. It is an actively managed portfolio of infrastructure companies with a minimum market capitalization of $250m.
The portfolio uses a ‘preferred infrastructure’ approach that focuses primarily on equity securities of companies that own infrastructure assets that exhibit certain desirable characteristics including longevity of the issuer, lower risk of capital loss and revenues linked to inflation. The portfolio also seeks to
substantially hedge foreign currency exposure back to the US dollar.
Charles Carroll, deputy chairman and head of global marketing at LAM, said: “The Lazard Global Listed Infrastructure Portfolio provides investors with the opportunity to participate in the rising demand for infrastructure assets worldwide.
“This new mutual fund expands our existing infrastructure platform to both institutional and retail investors, reflecting the growing importance of the asset class and our ongoing commitment to developing global investment solutions for our clients.”
