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The principal reasoning behind this fund is Lazard's wish to produce a portfolio that is capable of delivering consistent top quartile performance.
The team have identified their main strength as stock picking although some slight sector positioning may take place. Through the use of their in-house developed "Present Value Model", (a form of discounted cash-flow) the process begins with this screening for possible investment opportunities. Drawing heavily on a team of over 30 investment professionals located around the world, analysts are encouraged to choose their preferred stock from each sector. Therefore, although sector weights are largely in line with the benchmark, stock bets can be high. This leads to a relatively concentrated portfolio of Lazard's best UK stock ideas.