Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Portfolio seeks long-term capital appreciation.
Strategy. The Portfolio invests primarily in equity securities, principally common stocks, of companies in developed and emerging markets. The Investment Manager, through its bottom-up, fundamental research process, invests in companies it believes have strong and/or improving financial productivity and are undervalued based on their earnings, cash flow or asset values. In managing the Portfolio, the Investment Manager utilizes a flexible investment approach and engages in bottom-up, fundamental security analysis and selection. The Portfolio may invest in securities across the capitalization spectrum. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. In addition, under normal market conditions, the Portfolio invests significantly (at least 40%unless market conditions are not deemed favorable by the Investment Manager, in which … The Portfolio invests primarily in equity securities, principally common stocks, of companies in developed and emerging markets. The Investment Manager, through its bottom-up, fundamental research process, invests in companies it believes have strong and/or improving financial productivity and are undervalued based on their earnings, cash flow or asset values. In managing the Portfolio, the Investment Manager utilizes a flexible investment approach and engages in bottom-up, fundamental security analysis and selection. The Portfolio may invest in securities across the capitalization spectrum. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. In addition, under normal market conditions, the Portfolio invests significantly (at least 40%unless market conditions are not deemed favorable by the Investment Manager, in which case the Portfolio would invest at least 30%) in non-US companies. The Investment Manager will allocate the Portfolios assets among various regions and countries, including the United States (but in no less than three different countries). The Portfolios investments in non-US companies may include companies whose principal business activities are located in emerging market countries. Although the Portfolio is classified as diversified under the Investment Company Act of 1940, as amended, it may invest in a smaller number of issuers than other, more diversified investment portfolios.
Top holdings
As of Sept. 30, 2025 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| APPLE INC | — | $3.65M | 4.52% |
| MICROSOFT CORP | — | $3.35M | 4.16% |
| TAIWAN SEMIC MFG CO LTD SP ADR | — | $3.14M | 3.89% |
| AMAZON.COM INC | — | $2.45M | 3.03% |
| ASML Holding NV | — | $2.08M | 2.58% |
| SCHWAB CHARLES CORP | — | $2.00M | 2.48% |
| ABB Ltd. (Registered) | ABLZF | $1.97M | 2.44% |
| VISA INC-CLASS A | — | $1.91M | 2.37% |
| AMPHENOL CORPORATION CL A | — | $1.73M | 2.14% |
| RELX PLC | — | $1.59M | 1.97% |
Portfolio moves
Jun 30, 2025 → Sep 30, 2025How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| LAZARD GLOBAL TOTAL RETURN & INCOME FUND INC | 77% | — |
| Lazard Equity Megatrends ETF · THMZ | 34% | — |
| MFS Massachusetts Investors Growth Stock Fund · MIGFX, MIGHX, MIGKX, MIGBX, MIGDX, MGTIX, MIGMX, MIRGX, MIGNX | 32% | 0.37% |
Advisers
| Firm | Role |
|---|---|
| Lazard Asset Management LLC | Adviser |
Footnotes
- Expense ratio as of April 28, 2025, from the fund's prospectus.
- Net assets and holdings count as of September 30, 2025, from the fund's N-PORT filing.
- Total return for calendar year 2024, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2024 (the latest prospectus does not yet chart this year).
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