The fund looks to maximise risk-adjusted returns through bottom-up security selection and top-down asset allocation.

Lazard Asset Management has launched the Lazard Diversified Return Fund to be managed by its multi-asset investment team, led by portfolio manager Jai Jacob.

The fund is UCITS-compliant and offers investment capabilities across equities, fixed income, and other diversifying assets. It is also benchmark agnostic, and seeks total return by targeting volatility to a range of 4 per cent to 8 per cent.

“By combining top-down market forecasts, individual security selection, and robust risk management, the fund aims to protect investors’ capital while delivering a consistent pattern of returns,” said Jacob

“It has been designed to meet significant demand for low volatility, diversified strategies from our global client base,” added Bill Smith, chief executive.

The multi-asset team currently manages more than $4 billion in assets under management, and as of 30 September, 2016, LAM and affiliated asset management companies in the Lazard Group managed $205 billion of client assets.

Lazard is a New York-listed financial advisory and asset management firm which advises on mergers, acquisitions, restructuring, capital structure and strategy.