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 relatively large non-US companies with market capitalizations in the range of companies included in the MSCI Europe, Australasia and Far East (EAFE ) Index (ranging from approximately $3.6 billion to $324.3 billion as of March 31, 2025) that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. In choosing stocks for the Portfolio, the Investment Manager looks for established companies in economically developed countries and may invest up to 15% of the Portfolios assets in securities of companies whose principal business activities are located in emerging market countries. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. The Portfolio invests primarily in equity securities, principally common stocks, of relatively large non-US companies with market capitalizations in the range of companies included in the MSCI Europe, Australasia and Far East (EAFE ) Index (ranging from approximately $3.6 billion to $324.3 billion as of March 31, 2025) that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. In choosing stocks for the Portfolio, the Investment Manager looks for established companies in economically developed countries and may invest up to 15% of the Portfolios assets in securities of companies whose principal business activities are located in emerging market countries. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| LAZARD GOVT MNY MMKT INS | — | $64.14M | 5.44% |
| ENGIE | — | $32.20M | 2.73% |
| ASTRAZENECA PLC | — | $28.21M | 2.39% |
| ORANGE | — | $27.91M | 2.37% |
| UNILEVER PLC | — | $27.16M | 2.30% |
| AIA Group Ltd | — | $27.11M | 2.30% |
| RELX PLC | — | $25.34M | 2.15% |
| ASML Holding NV | — | $25.19M | 2.14% |
| SHIN-ETSU CHEM | — | $21.63M | 1.84% |
| BUREAU VERITAS S | — | $20.13M | 1.71% |
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 Retirement International Equity Portfolio | 99% | 0.85% |
| Lazard International Equity Select Portfolio · LZESX, LZSIX, RLIQX | 54% | 0.85% |
| Lazard International Strategic Equity Portfolio · LISOX, LISIX, RLITX | 36% | 0.82% |
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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