Lazard Global Convertibles Recovery C Cap EUR Hdg

The Fund aims to maximise total return from income and capital growth. The Fund is actively managed and will primarily invest in convertibles bonds (i.e. debt securities that are convertible into the equity securities of the issuer) which the Investment Manager has determined are likely to experience recovery in valuations. The strategy of the Fund is to focus on investment opportunities presented by companies, sectors or regions that have been underperforming or undervalued at the time of investment. The Fund will also invest in investment grade, non- graded investments, unrated convertible bonds and/or debt securities (e.g. bonds) which are issued by companies, governments, government agencies, quasi sovereign bodies or supranational bodies (such as the World Bank) across the world. The Fund has flexibility to invest up to 100% of its value in securities that are rated below investment grade. The Fund also has flexibility to invest up to 100% of its value in emerging markets. The Fund does not intend to invest directly in equities, however, the Fund may from time to time hold equity securities on an ancillary basis up to a limit of 10% of the value of the Fund. The Fund may gain exposure to the asset classes above either by investing in them directly, or by using derivatives (which are financial contracts whose value is linked to the price of an underlying investment). The currency exposures of the Fund's portfolio may be hedged back into US Dollars, being the base currency of the Fund. As a result of its use of derivatives, the Fund may be 'geared' or 'leveraged' (which can lead to a proportionately much larger movement in the value of the Fund's assets). The expected level of the Fund's leverage will be 100% of the value of the Fund. The Fund has discretion as to which investments it will hold within the limits of the Investment Objective and Policy. The Fund's performance is not measured in reference to a benchmark. Income and profits, if any, attribu

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No