Terrence Gray and Jian Tao Join Lazard Asset Management
August 07 2020 - 5:00AM
Business Wire
- LAM expands its thematic investment
offering -
Lazard Asset Management LLC (LAM) today announced that Terrence
Gray and Jian Tao have joined the firm, bringing with them their
“Bottom Billion Strategy”.
The Bottom Billion Strategy, with assets under management of
approximately US$500 million, uses a thematic investment process to
invest in exchange-traded shares of companies in emerging and
frontier markets. The Strategy is built on the premise that nearly
2 billion people will move up the income pyramid over the next
15-20 years, representing a long-term growth opportunity. The
Strategy invests in companies offering products and services that
improve lives for individuals at the base of the pyramid. These
individuals, or the “Bottom Billion”, represent an estimated US$5
trillion in spending annually. The Strategy operates via an Irish
domiciled CCF fund.
Nathan Paul, Chief Business Officer, Lazard Asset Management,
said: "Both Terrence and Jian bring extensive experience in
emerging and frontier markets to our investment platform. The
addition of the Bottom Billion Strategy to our suite of products
enables us to offer our clients an investment solution that is
uncorrelated with our current strategies.”
Both Mr. Gray and Mr. Tao previously worked at Global Thematic
Partners (GTP), where they most recently served as portfolio
managers of the Bottom Billion Strategy. Prior to GTP, they worked
at Deutsche Asset Management.
“The movement of the ‘Bottom Billion’ up the income pyramid
represents a powerful structural theme that is unlikely to be
derailed by market cycles in developed economies. It also offers
investors a unique opportunity to have a positive social impact on
a large scale as we focus on improving lives at the base of the
pyramid,” said Terrence Gray, portfolio manager of the Bottom
Billion Strategy. “Both new and existing clients can benefit from
the combination of our disciplined thematic investing approach and
the first-class emerging market resources at Lazard Asset
Management.”
About Lazard Asset Management (LAM) LLC
An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM offers a
range of equity, fixed-income, and alternative investment products
worldwide. As of July 31, 2020, LAM and affiliated asset management
companies in the Lazard Group managed $215 billion worth of client
assets. For more information about LAM, please visit
www.LazardAssetManagement.com. Follow LAM at @LazardAsset.
AM- LAZ
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200807005015/en/
Media contacts Zoe Butt, +44 20 7448 2802
zoe.butt@lazard.com
Hillary Yaffe, +1 212 632 6528 hillary.yaffe@lazard.com
Lazard (NYSE:LAZ)
Historical Stock Chart
From Aug 2024 to Sep 2024
Lazard (NYSE:LAZ)
Historical Stock Chart
From Sep 2023 to Sep 2024