Lazard unveils UCITS version of long/short credit fund

Fund based on existing strategy

Lazard Asset Management has launched a UCITS-compliant long/short credit fund that will primarily invest in investment grade, crossover and high yield bonds across Europe and North America.

The Lazard Coherence Credit Alternative Fund is a UCITS version of the existing Coherence Long/Short credit strategy, and will be managed by Sal Naro, Vincent Mistretta, Michael Cannon and Sanjay Aiyar. The team also manage the original version of the strategy. Both funds are part of Lazard's Alternative Investment Platform, which has about $3.9bn in assets as of the end of September Lazard said in a statement that the fund will focus on "consistent absolute returns and capital preservation, while seeking to limit interest rate volatility though hedging and other dynamic risk manageme...