Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens

Lazard World Trust Fund

LN: WTR

£107.2m market cap

334p last close

Lazard World Trust Fund (WTR) seeks to achieve long-term capital appreciation by investing primarily in a diversified portfolio of companies whose shares trade at a discount to the underlying net asset value.

Investment summary

Lazard World Trust Fund (WTR) is differentiated from the majority of peers by its focus on discounted assets. Its portfolio is a blend of closed-end funds, investment trusts and holding companies that trade at a discount to the value of their assets, and in particular those where the underlying assets are also undervalued. Manager Kun Deng and his Discounted Assets team at Lazard Asset Management are focused on opportunities wherever they arise, with a longstanding bias to Asian and emerging markets. A key part of the WTR strategy is to engage with the underlying holdings to help unlock value through initiatives such as higher dividend policies, and in the spirit of ‘practising what they preach’, the fund has announced a new 6% annual distribution, paid quarterly, which will make it one of the highest-yielding equity-focused investment companies.

Share price graph
Price performance
%
1m
3m
12m
Actual (1.8) (4.8) (15.0)
Relative* (2.6) (2.7) (3.6)
52-week high/low 394.0p/316.0p
*% relative to local index
Key management
Philip R. McLoughlin Chairman
Kun Deng Fund manager

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