Lazard Global Credit II Fund


Fund Strategy

The Fund seeks to provide attractive risk-adjusted returns through investment in a diversified portfolio of assets. The Fund has the objectives of current income, long-term capital appreciation, and principal protection.


Investment Process

The Fund employs a hedged strategy, expressed primarily through convertible securities as well as preferred securities, equities, fixed income, options, and ETFs. The Fund utilizes selective portfolio level and position level hedges in an attempt to minimize macro equity, credit, and interest rate risk.


Investor Profile

  • Accredited investors seeking capital appreciation in a fund that has traditionally exhibited low correlation to equity markets and manages duration in a hedged fixed-income portfolio
  • Investors seeking income, participation in equity market upside and downside protection in volatile markets
  • Investors looking for a portfolio to mitigate systemic risks and with lower volatility than traditional equity and fixed income markets

Monthly Commentaries

 

Portfolio Managers

Sean Reynolds

Managing Director, Portfolio Manager/Analyst, Lazard Asset Management LLC (New York)
image for Adam Mitchell

Adam Mitchell

Senior Vice President, Client Portfolio Manager, Lazard Asset Management LLC (New York)

How to Invest

Alternative Solutions

Fund Overview

Fund Performance

Fund Performance: 
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2017 0.57 0.53 1.70 0.36 - - - - - - - - -
2016 -2.44 -0.45 2.26 1.17 0.60 1.25 0.41 0.40 -0.13 -1.56 0.37 0.11 1.92
2015 -0.41 4.32 -0.92 3.66 0.53 -1.43 -3.63 -3.70 -1.80 1.10 -3.48 -4.72 -10.39
2014 1.31 2.01 0.51 0.95 0.59 0.20 -0.30 0.23 -2.18 -0.40 -3.63 -4.61 -5.41
2013 1.18 0.40 0.45 0.67 0.39 -2.62 1.85 0.37 0.35 2.02 0.34 0.54 6.02
2012 1.53 1.91 -0.53 0.97 -0.85 0.70 1.99 0.24 1.13 0.14 0.23 0.81 8.54
2011 - - - - - - - - - 3.15 -0.92 1.22 3.45

Growth of $100,000

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Risk Bar Description: 
Risk Rating

Portfolio Details

Fund Codes
A Class: AHP640
F Class: AHP648
U Class: AHP646
G Class: AHP645


Management Fee
A Class: 2.5%
F Class: 1.5%
U Class: 2.5%
G Class: 1.5%


Incentive Fee/Allocation
20%


Purchases
Weekly

Liquidity
Monthly with 20 business days notice


Prime Broker
Bank of Nova Scotia


Auditor
PricewaterhouseCoopers


Administrator
RBC Investor & Treasury Services


^ Minimum Investment for accredited investors is $25,000
^ Minimum Investment for non-accredited purchases is $150,000

 

Source: Arrow Capital Management Inc./Morningstar, 2017

On January 4, 2016, Lazard Asset Management became the sub-advisor of the Fund, and the Fund name was changed from the Raven Rock Income II Fund to the Lazard Global Credit II Fund.

From Oct 1, 2011 to March 30, 2013 returns are for the Lazard Global Credit II Fund (Class A-S), and are adjusted to reflect Class F fees.

Commissions, trailing commissions, management, performance and other fees may be associated with this investment. Investors should read the offering memorandum before investing. Unless otherwise stipulated returns are for Class F units in Canadian funds. Except as otherwise noted returns are historical compounded total returns including changes in the unit value and reinvestment of all dividends or distributions and do not take into account the sales, redemption, distributions or optional charges or income tax payable by the investor that may affect the compound growth rate and are not intended to reflect the future value of the fund. Past performance may not be repeated. Offering of units in this fund are made pursuant to the Confidential Offering Memorandum (OM) only to those investors who meet certain eligibility or minimum purchase requirements. Important information, including this fund’s fundamental investment objective is contained in the OM which may be obtained from Arrow Capital Management Inc.