Lazard Asset Management is planning to appoint a manager to run an emerging markets smaller companies fund.
Under the stewardship of James Donald, the company already manages the £700m Lazard emerging markets fund.
It also has an emerging market growth fund at a reasonable price (Garp) strategy that is only available to institutional investors, and the group would like to add an emerging market small-cap strategy.
Once a team has been appointed and constraints have been assessed, the group will aim to launch an emerging market small-cap fund, which would be available to retail investors.
Donald’s Lazard emerging markets fund was previously named emerging markets growth but was renamed in 2006 to better reflect its style. He will continue to run this fund and will not move into the small-cap team.