Lazard Asset Management Awarded Mid Wynd International Investment Trust Mandate
LONDON, 27 June, 2023 – Lazard Asset Management today announced that it has been awarded the mandate to manage the Mid Wynd International Investment Trust, a listed closed-end fund with net assets of more than £400m.
The firm will take over management responsibilities in respect of the Trust later this year, with global equity managers Barnaby Wilson and Louis Florentin-Lee responsible for managing the portfolio. The team will manage the Trust consistent with the Lazard Global Quality Growth Strategy which launched in 2011.
“We are honoured to have been appointed as Mid Wynd’s investment manager,” said Jeremy Taylor, UK CEO of Lazard Asset Management. “We share a commitment to providing consistently excellent returns for our clients. Investing in companies with high financial productivity that trade at attractive valuations is a hallmark of our investment approach. We are pleased to be able to bring this to Mid Wynd’s extensive shareholder base and look forward to partnering with Mid Wynd’s Board to deliver strong investment results and increase shareholder value.”
The Lazard Global Quality Growth strategy aims to invest in what the team consider to be some of the best businesses in the world – companies with sustainable competitive advantages that are expected to generate consistently high returns on capital and that can reinvest in their business to drive future growth. In doing so, investors can share in the economic wealth created by these businesses. The investment approach is supported by twenty-five years of empirical research and Lazard’s extensive fundamental research team of global sector specialists.
Russell Napier, Chairman of Mid Wynd, added: “We are delighted to appoint Lazard and their Global Quality Growth team, headed by Louis Florentin-Lee and Barnaby Wilson, as managers of Mid Wynd. We are impressed by the team’s disciplined approach and the resilience of their relative returns through very different market conditions. Identifying those companies that continue to invest at high rates of return for much longer periods than the market anticipates is an approach which the Board believes will continue to reward long-term investors"
Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 43 cities across 26 countries in North and South America, Europe, Asia and Australia. Celebrating its 175th year, the firm provides advice on mergers and acquisitions, capital markets and other strategic matters, restructuring and capital solutions, and asset management services to corporations, partnerships, institutions, governments and individuals. For more information on Lazard, please visit www.lazard.com. Follow Lazard at @Lazard.
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