Lazard Asset Management today launched in the U.S. its Lazard Developing Markets Equity Portfolio fund, confirmed spokeswoman Monica Orbe.
Portfolio managers Kevin OHare and Peter Gillespie will co-manage the new emerging markets mutual fund.
The fund will be available to both institutional and retail investors, and will use a bottom-up stock selection process and a relative growth strategy, Ms. Orbe added. It will invest in 60 to 90 emerging market securities whose companies have a market capitalization of more than $300 million. Companies that have more than 50% of their net assets or sales from emerging markets may also be included.
Lazard Asset Management had $134.1 billion in assets under management as of June 30.