Morningstar Fund Report  | 11/04/2025Print

Lazard Multicap UK Income Fund B Inc

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Lazard Multicap UK Income Fund B Inc
Fund15.5-1.07.49.11.8
+/-Cat-2.32.50.61.10.9
+/-B’mrk---0.3-0.7-3.4
 
Category: UK Equity Income
Category Benchmark: Morningstar UK All Cap TME ...
Key Stats
NAV
10/04/2025		 GBP 5.82
Day Change 4.77%
Morningstar Category™ UK Equity Income
IA (formerly IMA) Sector UK Equity Income
ISIN GB0008469818
Fund Size (Mil)
09/04/2025		 GBP 53.28
Share Class Size (Mil)
09/04/2025		 GBP 1.38
Max Initial Charge 3.75%
Ongoing Charge
17/02/2025		  1.30%
Investment Objective: Lazard Multicap UK Income Fund B Inc
The objective of the Sub-Fund is to achieve income combined with capital growth. The Sub-Fund will invest at least 70% in the shares of UK companies, being those which are incorporated, domiciled or conduct a significant portion of their business in the UK. The Sub-Fund will not be restricted in respect of choice of investments by company size or industry.
Returns
Trailing Returns (GBP)10/04/2025
YTD-3.71
3 Years Annualised3.04
5 Years Annualised9.51
10 Years Annualised3.77
12 Month Yield 3.85
Dividend Paying Frequency Quarterly
Management
Manager Name
Start Date
Aaron Barnfather
30/09/2023
Tomasz Bulinski
30/09/2023
Click here to see others
Inception Date
31/03/1971

Category Benchmark
Fund BenchmarkMorningstar Benchmark
FTSE AllSh TR GBPMorningstar UK All Cap TME NR GBP
Portfolio Profile for  Lazard Multicap UK Income Fund B Inc28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock97.190.0097.19
Bond0.000.000.00
Property0.000.000.00
Cash3.603.180.43
Other2.460.082.38
Top 5 Regions%
United Kingdom98.28
Eurozone0.97
United States0.75
Canada0.00
Latin America0.00
Top 5 Sectors%
Financial Services23.77
Industrials17.91
Consumer Cyclical11.25
Healthcare10.49
Energy10.47
Top 5 HoldingsSector%
HSBC Holdings PLCFinancial ServicesFinancial Services7.49
Shell PLCEnergyEnergy7.29
AstraZeneca PLCHealthcareHealthcare6.25
Unilever PLCConsumer DefensiveConsumer Defensive5.68
National Grid PLCUtilitiesUtilities3.25
Increase Decrease New since last portfolio
Lazard Multicap UK Income Fund B Inc
Growth Of 1000 (GBP) 31/03/2025
Fund:  Lazard Multicap UK Income Fund B Inc
Category:  UK Equity Income
Category Index:  Morningstar UK All Cap TME NR GBP
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-12.2518.69-10.7215.52-0.977.359.141.76
+/- Category-1.70-0.251.83-2.282.470.601.060.89
+/- Category Index------0.27-0.68-3.40
% Rank in Category6864417146534054
Trailing Returns (GBP)10/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day4.77   6.477.65
1 Week-4.64   4.015.95
1 Month-6.41   3.344.79
3 Months-3.59   3.703.24
6 Months-3.35   5.202.38
YTD-3.71   4.411.92
1 Year1.50   4.351.02
3 Years Annualised3.04   1.810.02
5 Years Annualised9.51   1.740.69
10 Years Annualised3.77   0.35-0.77
 
Category: UK Equity Income
Category Index: Morningstar UK All Cap TME NR GBP
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20251.76---
20242.515.241.76-0.59
20233.03-1.172.572.79
20221.70-5.33-6.239.69
20216.724.252.081.72
2020-28.7111.61-3.8716.72
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageAverage3 star
10-YearAverageAverage3 star
OverallAverageAverage3 star
 
Category :  UK Equity IncomeClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev11.39 %
3-Yr Mean Return5.76 %
 
3-Yr Sharpe Ratio0.14
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar UK All Cap TME NR GBP  FTSE AllSh TR GBP
3-Yr Beta0.970.99
3-Yr Alpha-2.19-1.93
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)GBP 25403-
Market Capitalisation% of Equity
Giant44.33
Large24.52
Medium18.20
Small10.00
Micro2.95
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings11.601.00
Price/Book1.651.02
Price/Sales1.111.42
Price/Cash Flow7.751.06
Dividend-Yield Factor3.970.90
 
Long-Term Projected Earnings Growth9.031.00
Historical Earnings Growth1.14-0.24
Sales Growth3.970.78
Cash-Flow Growth0.700.87
Book-Value Growth4.542.42
 
Category: UK Equity Income
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock97.190.0097.19
Bond0.000.000.00
Property0.000.000.00
Cash3.603.180.43
Other2.460.082.38
World Regions28/02/2025
 % of EquityRelative to Category
United States0.750.29
Canada0.000.00
Latin America0.000.00
United Kingdom98.281.07
Eurozone0.970.28
Europe - ex Euro0.000.00
Europe - Emerging0.00-
Africa0.000.00
Middle East0.000.00
Japan0.000.00
Australasia0.000.00
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: UK Equity Income
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials5.740.95
Consumer CyclicalConsumer Cyclical11.251.15
Financial ServicesFinancial Services23.770.95
Real EstateReal Estate2.180.62
Consumer DefensiveConsumer Defensive10.040.76
HealthcareHealthcare10.491.23
UtilitiesUtilities4.310.92
Communication ServicesCommunication Services2.300.38
EnergyEnergy10.471.44
IndustrialsIndustrials17.911.34
TechnologyTechnology1.540.65
 
Category: UK Equity Income
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings62
Total Number of Bond Holdings0
Assets in Top 10 Holdings44.98
NameSectorCountry% of Assets
HSBC Holdings PLC103United Kingdom7.49
Shell PLC309United Kingdom7.29
AstraZeneca PLC206United Kingdom6.25
Unilever PLC205United Kingdom5.68
National Grid PLC207United Kingdom3.25
GSK PLC206United Kingdom3.16
RELX PLC310United Kingdom3.10
Barclays PLC103United Kingdom2.94
Rio Tinto PLC Registered Shares101United Kingdom2.92
BP PLC309United Kingdom2.89
 
Increase Decrease New since last portfolio
Category: UK Equity Income
 
Management
Name of CompanyLazard Fund Managers Limited
Phone-
Website -
Address50 Stratton Street,
 London   W1J 8LL
 United Kingdom
DomicileUnited Kingdom
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date31/03/1971
Fund Advisor(s)
Lazard Asset Management Ltd
Fund ManagerAaron Barnfather
Manager Start Date30/09/2023
Career Start Year1994
 
Biography
Aaron Barnfather is a senior portfolio manager and leads the portfolio management team in London who are responsible for the management of European equities. He began working in the investment field in 1994. Prior to joining Lazard in 2008, Aaron was a Senior Portfolio Manager and lead manager on Newton Investment Management’s pan-European portfolios, launching the Newton European Higher Income fund in 2007. Prior to Newton, he held positions at Royal & Sun Alliance Investment Management on the UK, International and European Equity teams. He has a BA in Business Studies from the University of East London and an MSc in Investment Analysis from Stirling University. Aaron is a member of the UK Society of Investment Professionals (UKSIP).
Fund ManagerTomasz Bulinski
Manager Start Date30/09/2023
Fund ManagerAnastasia Savina
Manager Start Date28/05/2024
Fund ManagerAlan Clifford
Manager Start Date29/10/2008
 
Biography
Alan Clifford is a Portfolio Manager on our UK Equity Team, specifically responsible for managing UK Small Cap Equity portfolios. He joined Lazard Asset Management Limited in December 2002 having spent the previous 10 years within the UK Small Cap portfolio management team of Legal & General Investment Management and prior to that in an accountancy role. Alan achieved the AIIMR qualification in 1994 and is an Associate of the Chartered Institute of Management Accountants.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge3.75%
Max Exit Charge*2.00%
Annual Charges
Max Annual Management Charge1.25%
Ongoing Charge1.30%
Purchase Details
Minimum Investments
Initial500  GBP
Additional500  GBP
Savings-
Tax Free Savings Schemes
ISAsYes