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Swiss firm shuts down global value fund

Swiss firm shuts down global value fund

Lombard Odier has closed its Luxembourg-domiciled global value fund after the assets under management fell below a workable level.

The Swiss asset management firm revealed the strategy, the LO Funds – Pzena Global Value fund, was closed at the beginning of January following a review of operations.

A spokesperson for Lombard Odier told Citywire Global the closure was carried out for operational reasons and that the company continues to operate a host of similar, alternatives both in-house and through its open-architecture approaches. 

The fund was originally launched in May 2007 and run on mandate by a team from New York-based boutique Pzena Investment Management.

Company head Richard Pzena, along with fund managers John Goetz and Rama Krishna, had originally overseen management of the fund.

Krishna stepped down from the fund in November 2010 and was replaced by Caroline Cai and Mickael Peterson

According to the latest available factsheet, the fund had $40.53 million in assets under management at the end of September 2012. 

The LO Funds – Pzena Global Value fund returned 9.2% in US dollar terms in three years to the end of November 2012. This compares to its Citywire benchmark, the MSCI World TR USD, which rose 24.22% over the same period.


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Caroline Cai
Caroline Cai
911/1234 in Equity - Global Equities (Performance over 3 years) Average Total Return: 12.90%
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