Domiciled in Dublin, the new fund will have both dollar and sterling share classes and will be managed by Patrick Ryan.
The new fund will be run in a very similar way to the existing Global Equity Income fund, also managed by Ryan, which is domiciled in the UK.
The minimum investment on the new fund has not been revealed yet, but the annual management charge for the retail C share class will be 0.75 per cent and there will be no other charges.
Lazard Asset Management head of third party distribution Tony Maddock says: “The launch of this offshore version of the Global Equity Income fund has been very much driven by client demand, and will satisfy the needs of those that prefer to access funds that are domiciled offshore.”
Three Counties IFA Andrew Alexander says: ”You do see more funds coming onshore after testing themselves offshore, but it is different to do it the other way around.”