Lazard Asset Management has changed the name of its UK Equity Income fund to the Multi-Cap UK Income fund.
Over the past three years it has returned 13.1% compared with 12.1% from its IMA UK Equity Income sector and 9.5% from the FTSE All Share index.
‘We believe that taking a multi-cap approach to income investing in the UK market can help to overcome the impact of market concentration as well as accessing dividend growth amongst smaller companies, which should lead to an attractive total return for clients,’ commented Clifford (pictured).
The fund currently has a 62% allocation to the FTSE 100, below the All Share’s 82% weighting to the large-caps. It has 21% in the FTSE 250, 7% in the FTSE SmallCap index, and 4% in AIM-listed stocks.