Lazard launches opportunities fund

2014-10-10

Lazard Global Investment Funds plc, an Irish-registered Open Ended Investment Company and recognised UCITS, has merged the assets of the Matrix Lazard Opportunities Fund into the newly created Lazard Opportunities Fund. This is following the recent closure of the Matrix UCITS fund platform.

“The transition from Matrix to the Lazard UCITS platform has been seamless and we welcome existing and future investors,” said Mike Wariebi, Head of Alternative Investments, Marketing and Business Development in Europe and the Middle East at Lazard Asset Management. “We anticipate significant demand for the fund as the market is seeing $90billion+ of convertible debt maturing over the next few years. We believe companies looking to re-finance debt and re-structure may create opportunities in special situations.”

The Lazard Opportunities Fund is a relative value capital structure and convertible arbitrage fund focused on special situations and events trading. The fund aims to generate returns by exploiting anomalies across a corporate’s securities, using proprietary screening tools, quantitative analysis and fundamental research. The Fund is domiciled in Ireland and has weekly liquidity.

“We anticipate ongoing periods of volatility spikes as markets digest political, economic and sovereign events and this will likely create a generally volatile investment environment in the near term,” said Sean Reynolds, Portfolio Manager of the Lazard Opportunities Fund. “The Lazard Opportunities Fund is designed to take try to advantage of increased volatility via its current bias towards short-dated corporate credit. The emphasis on shorter-dated trades where outcomes are more definable provides appropriate exposure to the beta of the asset class, but also helps to cushion during periods of risk aversion from the alpha generation delivered via special situations.”