Individual Investors
UK Onshore Fund Range
Fund Overview
Fund Facts
Commentaries
Literature
Management Team Profile
Asset Allocation
Performance

As at 30/09/08

Fund Information
 
Objective‡  
To achieve an income yield greater than that of the FTSE All-Share Index, whilst producing capital growth at a rate at least equivalent to that produced by the Index.
 
Benchmark  
FTSE All-Share Index
 
Fund Managers  
Alan Clifford and team
 
Sedol Code  
0846981 (Retail Income)
0847025 (Institutional Income)
 
Launch Date  
31 March 1971
 
Fund Size  
£94.76m
 
Retail Income Share Class (£2,000 min)  
NAV 388.3p
Current Yield 5.31%
Initial Charge 3.75%
Annual Management Charge** 1.25%
 
Institutional Income Share Class (£200,000 min)  
NAV 401.0p
Current Yield 5.30%
Initial Charge Nil
Annual Management Charge** 0.75%
 
Ex-Distribution Dates  
31 December, 31 March,
30 June, 30 September
 
Income Distribution Dates  
28 February, 31 May,
31 August, 30 November
 
 
Technical Statistics*
 
Alpha (% p.a.)-4.69

“Alpha” represents the return of a portfolio that is attributable to the manager’s investment decisions.

Beta1.09

“Beta” measures a fund’s sensitivity to movements in the overall market.

Tracking Error (% p.a.)3.94

“Tracking error” measures the volatility of the difference between a portfolio’s performance and the benchmark.

Information Ratio-1.19

“Information ratio” represents the value added of the manager (excess return) divided by the tracking error.

Sharpe Ratio-0.62

“Sharpe ratio” measures return in excess of the risk free rate for every unit of risk taken.

*Technical Statistics calculated three years to 30/09/08. Tracking error shown is calculated using
NAV data priced at midday and Index data priced at the close of day.

Past performance should not be taken as guide to future returns.

Source: Lazard Asset Management Ltd and Lipper Hindsight. Portfolio information as at 30/09/08.

This is a financial promotion and is not intended to constitute investment advice.

The Lazard UK Income Fund is a sub-fund of Lazard Investment Funds, a UK-authorised Open Ended Investment Company (“OEIC”) and UCITS.

Investors are reminded that the value of shares and the income from them can fall as well as rise due to stock market and currency movements. When you sell your investment you may get back less than you originally invested.

**The annual management charge is deducted from the capital of the fund. This will increase the income from the fund but may constrain or erode potential capital growth. The increased income will lead to increased potential income tax liability.

The information provided should not be considered as a recommendation or solicitation to purchase, sell or hold these securities. It should also not be assumed that any investment in these securities was or will be, profitable.

The Authorised Corporate Director of the fund is Lazard Fund Managers Limited, which is authorised and regulated by the Financial Services Authority (“FSA”) and is a member of IMA.

This financial promotion is issued and approved by Lazard Asset Management Limited, 50 Stratton Street, London W1J 8LL.

Lazard Asset Management Limited is incorporated in England and Wales with registered number 525667. It is authorised and regulated by the Financial Services Authority.

 




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