fund
Lazard Global Equity Income C
Targets a substantial yield from developed and emerging market equities.
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112.45p
Price (Inc)
These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.
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210.32p
Price (Acc)
These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?
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0.00%
Initial chargeSome funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!
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0.75%
Annual management charge
This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).
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0.82%
Ongoing charges
This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.
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2.90%
Yield
How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…
Fund summary
| Sector | Global Equity Income |
| Structure | OEIC |
| Launched | November, 2012 |
| Size | £87m |
| Yield | 2.90% |
| Charging basis | Capital |
| Dividends paid | 28 Feb, 31 May, 31 Aug, 30 Nov |
Charges
| Standard initial charge | 0.00% |
| Initial charge via Bestinvest | 0.00% |
| Additional bid/offer spread | 0.00% |
| Annual management charge | 0.75% |
| Ongoing charges figure | 0.82% |
Allocation
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Investment process
The fund seeks to generate both substantial income and long term capital growth through investment in global equities, both in developed and emerging markets. Up to 25% of the fund may be invested in emerging market stocks.
Manager research
Average monthly relative returns
- 16/17 0.15%
- 17/18 -0.41%
- 18/19 -0.33%
- 19/20 -0.43%
- 20/21 -0.62%
Bestinvest MRI
- 3 years -0.46%
- 5 years -0.33%
- Career -0.31%
- 3 years 6.60%
- 5 years 9.30%
- Career 3.90%
Performance figures are based on the average of monthly percentage returns relative to the benchmark index.
Patrick Ryan
Ryan is a Portfolio Manager for Lazard’s World Dividend Equity strategy and sits on their Global Equity team. He began working in the investment industry in 1989 and was an equity analyst for Hutson Management before joining Lazard in February 1994. Ryan has a BS in Industrial Engineering from Columbia University; he is also a member of the New York Society of Security Analysts and the CFA Institute.
Track record
Patrick Ryan has 13.3 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been -0.31%. During the worst period of relative performance (from November 2007 - October 2020) there was a decline of 42% relative to the index. The worst absolute loss has been 37%.
Periods of worst performance
| Absolute | -37.00% (November 2007 - February 2009) |
| Relative | -42.00% (November 2007 - October 2020) |
About the MRI
Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.
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Top 10 holdings
Data accurate as at 31 July 2020
| 4.1% | Microsoft Corp |
| 3.2% | Banca Farmafactoring Spa |
| 3.1% | Cisco Systems Inc |
| 3% | Abb Ltd |
| 2.8% | Pfizer Inc |
| 2.7% | Johnson & Johnson |
| 2.5% | Moscow Exchange Micex Rts |
| 2.3% | Verizon Communications Inc |
| 2.3% | Ping An Insurance(Gr)Co Of China |
| 2.2% | Accenture Plc |
| Source: Trustnet |
Sector breakdown
| Financials | 20.00% |
| Information Technology | 18.00% |
| Health Care | 11.00% |
| Consumer Discretionary | 9.00% |
| Industrials | 9.00% |
| Consumer Staples | 7.00% |
| Others | 7.00% |
| Communications | 6.00% |
| Real Estate | 6.00% |
| Energy | 5.00% |