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Lazard Asset Management

Last Updated : 28 Jan 2010

Objective and strategy

The Lazard Emerging Markets Fund seeks to achieve total returns (includes income and capital appreciation and before the deduction of fees and taxes) that exceed those of the MSCI Emerging Markets Index by 3% per annum over rolling five-year periods.

The investment strategy of the Fund is to provide investors with access to investments in emerging markets. The Fund aims to meet its investment objective through bottom-up stock selection. Lazard’s Emerging Markets Investment Team seeks to create value in this way by assessing the trade-off between a company’s valuation and its financial productivity.

The Team aims to pick the best companies from the emerging markets universe based on their expected upside, which is a function of valuation, sustainability and risk control. The goal is to create a portfolio of emerging market companies that is less expensive, yet has higher profitability than the benchmark MSCI Emerging Markets Index.