London-headquarted Lazard Asset Management has launched a an offshore version of the Lazard Global Equity Income fund.

London-headquartered Lazard Asset Management has launched a an offshore version of the Lazard Global Equity Income fund.

The fund is managed by Patrick Ryan and will be run in a similar way to the existing Global Equity Income fund, the firm said in a statement. The new fund has both US dollar and sterling share classes and will be domiciled in Dublin.

“The launch of this offshore version of the Global Equity Income fund has been very much driven by client demand, and will satisfy the needs of those that prefer to access funds that are domiciled offshore," said Tony Maddock, head of third party distribution.

Earlier this year, Lazard Asset Management  rolled out the Lazard Global Equity Select Portfolio to invest globally in firms with strong and/or improving financial productivity, but which trade at attractive valuations.

The portfolio management team - based in New York and London - has an average of over 20 years of investment experience and is comprised of Andrew Lacey, Ronald Temple, Louis Florentin-Lee, Patrick Ryan and Martin Flood.

LAM offers equity, fixed income and alternative investment products worldwide. As of end-September 2013, the firm and affiliated asset management companies in the Lazard Group managed $176 billion in client assets.