Lazard’s Australian equities fund tops Mercer’s 2022 performance table

Big bets on the insurance, energy and iron ore sectors helped the Lazard Australian Equity Fund top Mercer’s investment manager performance tables for 2022.

Over the December quarter, a shareholding in bombed-out financial services group AMP added further to performance as the stock climbed 18.2 per cent from $1.10 to $1.30.“AMP remains attractively priced, but no longer within the topmost attractive stocks on our value rank,” Lazard said. Lazard is bullish on Rio’s aluminium operations: “We see this business as structurally more profitable in the medium to long-term as demand accelerates, driven by the global energy transition, and combined with an underinvestment in supply,” it said.

Over five years, the top-performing long-only fund under Mercer’s coverage is the First Sentier Australian Equities Geared Growth Fund. It has returned 14 per cent a year before fees. In 2022, it lost 19 per cent to rank 75th from up to 133 funds.

Source: News Formal (newsformal.com)

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