Morningstar has awarded the Lazard fund tree stars based on historical returns, and a neutral analyst rating. The firm rates the T Rowe Price higher with four stars, and a forward-looking analyst rating of bronze.
FE Fundinfo, which bases its assessment on a fund’s three-year history of delivering alpha, minimising relative volatility and producing consistent returns, awards both funds two crowns.
According to McDermott, the choice of fund is “all about what you like, really – safety or a taking a little more risk,” said McDermott.
“Despite having a high conviction approach on its top 10, the T Rowe Price fund is probably the safer bet,” he said.
“It has performed exceptionally well recently, with the fund benefitting from the exponential rise of the big tech players. We’d argue this is the fund to be with if you believe that story will continue.”
On the other hand, the Lazard fund “offers something different to many of its peers, in that it is very high conviction and relies heavily on pure stock picking,” said McDermott.
“It is an ideal pick for those wanting to have a strong active US fund, which can demonstrate diversification from the big sectors and obvious names in the market.”
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