Lazard Asset Management has launched a bond fund focused on Scandinavian assets to tap into the region’s “exceptional” economic fundamentals.
The Lazard Scandinavian High Quality Bond Fund invests in bonds with high credit ratings and high levels of liquidity, whether Scandinavian bonds or global bonds denominated in Scandinavian currencies.
Michael Weidner and Daniel Herdt, members of the Lazard European fixed income team, manage the fund.
Weidner said: “The fundamentals of the Scandinavian economies of Norway, Sweden, Finland and Denmark are exceptional, and the bonds have been providing stable performance for many years. The combination of attractive returns with high levels in credit ratings, liquidity and diversification is appealing to investors – especially in times of geopolitical risk and historically low or negative interest rates.”
He added: “In our opinion, there is no comparable product currently available in the market.”
According to the firm’s website, the ‘EA Dist Eur’ version of the fund, which is domiciled in Ireland, has a minimum investment of €500, while its key investor information document says it has entry and exit charges of 3% and 2%, respectively, and an ongoing charge of 0.58%.
The ‘A Dist EUR’ version of the fund has a minimum investment of €250,000, the same entry and exit charges, and an ongoing charge of 0.73%.
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