The asset management arm of New York-listed Lazard is providing lower risk exposure to European stock markets.

Lazard Asset Management has launched a UCITS compliant fund to invest in European large and mid-cap companies.

The Lazard European Alternative Fund will use bottom up stock selection, comprising a liquid portfolio of around 60 long and short positions in European large and mid-cap companies.

The fund will be managed out of London by Leopold Arminjon, who joined Lazard in June from Henderson Global Investors where he was lead portfolio manager of both the Henderson Horizon Pan-European Alpha Fund and the Alphagen Tucana Fund. Arminjon will be supported by portfolio manager/analyst Nitin Arora who recently joined from HSBC where he was lead equity research analyst for the past five years.

“The nascent European recovery offers an attractive backdrop for investors, but remains complex and volatile as evidenced by the sovereign crises of the past few years,” said Arminjon.

“This strategy can take steps to adapt to these circumstances with a view to protect capital, offering the potential for a lower risk option to access European stock markets.”

Lazard Asset Management offers a range of equity, fixed-income, and alternative investment products worldwide. As of the end of June, LAM and affiliated asset management companies in the Lazard Group managed $203 billion of client assets.