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This past Wednesday, the Lazard World Dividend & Income fund (LOR) finally merged into the Lazard Global Total Return & Income fund (LGI), $15.89 current market price, $17.63 NAV, -9.9% discount, 6.7% current market yield, creating a roughly $250 million fund. For disclosure purposes, LOR was my top pick for 2019 as a recovery fund and finished the year up 21.9% before the merger closed.
Though this makes LGI a larger $250 million fund offering greater economies of scale and opening the fund up to more institutional investors, it's still