Jen Ryan, Head of North American Distribution, Lazard Asset Management, joined Keith Black, Managing Director of RIA Channel, to discuss how clients are repositioning portfolios after recent rate increases.
Lazard Asset Management offers customized solutions for clients across a number of asset classes and strategies, including fundamental, long-only equity strategies, and quantitative investment solutions in international and emerging markets.
One strategy that has been especially popular is Lazard’s international quality growth strategy, which focuses on sustainable cash flows and enduring franchises that last across market environments. Investors are also interested in a listed infrastructure product that invests in assets with high barriers to entry.
Ryan notes that the market has accepted and internalized inflation and has moved on to repositioning portfolios to take advantage of the new rate regime. Investors are now reconsidering the value of private markets in today’s higher-rate environment. New allocations to alternative investments have slowed due to the denominator effect, where investors appear to be overweight in private assets after volatile public markets have fallen quickly while less volatile alternative investments are slower to be marked down.
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