Lazard Emerging Markets
Managed by James Donald since launch in May 1997, this emerging markets fund has delivered consistently strong performance, ranked first quartile in the IMA Global Emerging Markets sector across both five and 10 years, including a 10-year return of 253.17 per cent to October 15 2014.
The fund seeks to achieve long-term capital growth through investments in shares of companies that are either based in, or have “significant” business interests in, both developing and emerging market countries. It also aims to outperform the MSCI Emerging Markets Index with lower-than-index levels of volatility.
As a result, the portfolio’s largest geographical weighting is to emerging Asia at roughly 47.9 per cent of the fund. Emerging Latin America accounts for a further 19.2 per cent, with Banco do Brasil the fund’s largest holding at 4.9 per cent of the portfolio.
Meanwhile, the sector exposure is weighted towards financials, which makes up approximately 28.2 per cent of the fund. Information technology accounts for 17.3 per cent.
What the judges say
The fund was lauded for its global reach, team-based approach and the depth of analysis employed.
Club members
Baillie Gifford Emerging Markets Growth
Genesis Emerging Markets
Hermes Global Emerging Markets
Invesco Perpetual Emerging Countries
In numbers
£797.2m
Total assets
63.57%
Five-year actual return
1.58%
Ongoing charges (for retail share class)
