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 non-US companies whose principal activities are located in countries represented by the MSCI EAFE Index that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. The Portfolio also may invest up to 15% of its assets in securities of companies whose principal business activities are located in emerging market countries, although the allocation of the Portfolios assets to emerging market countries may vary from time to time. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. The countries represented by the MSCI EAFE Index currently include: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, … The Portfolio invests primarily in equity securities, principally common stocks, of non-US companies whose principal activities are located in countries represented by the MSCI EAFE Index that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. The Portfolio also may invest up to 15% of its assets in securities of companies whose principal business activities are located in emerging market countries, although the allocation of the Portfolios assets to emerging market countries may vary from time to time. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. The countries represented by the MSCI EAFE Index currently include: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland and the United Kingdom. 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 March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ASML Holding NV | — | $57.14M | 4.12% |
| BANK LEUMI LE-IS | — | $41.19M | 2.97% |
| PIRAEUS BANK SA | — | $39.99M | 2.88% |
| SOC GENERALE SA | — | $39.74M | 2.86% |
| BANCO SANTANDER SA | — | $35.62M | 2.57% |
| RESONA HOLDINGS | — | $35.39M | 2.55% |
| PHOENIX HOLD/THE | — | $32.06M | 2.31% |
| LOTTOMATICA GROU | — | $30.65M | 2.21% |
| ABB Ltd. (Registered) | ABLZF | $30.48M | 2.20% |
| NATIONAL GRID PL | — | $30.28M | 2.18% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How 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 International Equity Select Portfolio · LZESX, LZSIX, RLIQX | 39% | 0.85% |
| Lazard Retirement International Equity Portfolio | 36% | 0.85% |
| Lazard International Equity Portfolio · LZIOX, LZIEX, RLIEX | 36% | 0.80% |
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 March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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