lazard

UK EQUITIES

Equity Income fund managers are yet to warm to the tobacco sector, despite a strong 2014 for stocks driven by M&A and their defensive qualities.

Lazard manager Pat Ryan is optimistic on the prospects for Chinese banks despite a string of well-publicised problems, and has increased exposure to the sector within his Global Equity Income fund.

Alan Custis and Alan Clifford have stuck with insurers amid early signs the sector is rebounding from the sharp falls sparked by Chancellor George Osborne's move to change the pensions landscape.

FUND SELECTION

Lazard Asset Management has renamed its top performing UK income fund, run by Alan Custis and Alan Clifford.

Emerging markets took a tumble at the start of the year and worried investors pulled their money out of some of the largest emerging market equity funds in the UK market.

Lazard Global Equity Income manager Pat Ryan has been buying EM stocks on valuation grounds as the region continues to underperform global indices.

Lazard Asset Management has launched an offshore version of Pat Ryan's £327m Lazard Global Equity Income fund.

The cheapest UK equity income funds in the market are delivering much better long-term returns than some of their more expensive rivals, data compiled for Investment Week reveals