Lazard Emerging Markets Debt Portfolio
Data updated: 2023-05-30
C000134198 — Lazard Emerging Markets Debt Portfolio. Money Market · $7.83M AUM · 0.81% expense ratio. Holdings, fees, performance and SEC filings.
C000134198 Fund Overview
Lazard Emerging Markets Debt Portfolio is a US mutual fund managed by Lazard Funds INC, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Lazard Funds INC
- Category: Money Market
- Assets under management: $7.83M
- 1-year return: -6.4%
- SEC CIK: 0000874964
- SEC series ID: S000031123
- Share class ID: C000134198
C000134198 Investment Objective and Strategy
Lazard Emerging Markets Debt Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Lazard Funds INC.
Investment objective
The Portfolio seeks total return from current income and capital appreciation.
Principal investment strategy
The Portfolio invests primarily in debt securities issued or guaranteed by governments, government agencies or supranational bodies or companies or other private-sector entities, including fixed and/or floating rate investment grade and non-investment grade bonds, convertible securities, commercial paper, CDOs, short- and medium-term obligations and other fixed-income obligations, and may invest in money market instruments such as certificates of deposit. The securities in which the Portfolio invests may be denominated in the US dollar, the Canadian dollar, the Euro, the Japanese yen, the Pound Sterling, or the local currency of the issuer. Under normal circumstances, the Portfolio invests at least 80% of its assets in debt securities that are economically tied to emerging market countries.
Emerging market countries include all countries not represented by the MSCI World Index. The Portfolio currently intends to focus its investments in Asia, Africa, the Middle East, Latin America and the developing countries of Europe, although the allocation of the Portfolios assets among countries and regions may vary from time to time based on the Investment Managers judgment and its analysis of market conditions. The Portfolio may invest without limitation in securities rated below investment grade ( e.g., lower than Baa by Moodys or lower than BBB by S&P) (junk bonds) or securities that are unrated. Additionally, the Portfolio is not restricted to investments in securities of any particular maturity or duration. Duration is an estimate of the sensitivity of the price (the value of principal) of a fixed-income security to a change in interest rates.
Generally, the longer the duration, the higher the expected volatility. For example, the market price of a fixed-income security with a duration of three years would be expected to decline 3% if interest rates rose 1%. Conversely, the market price of the same security would be expected to increase 3% if interest rates fell 1%. The Portfolio may enter into futures contracts on US Treasury securities to seek to hedge the Portfolios exposure to the risk of rising interest rates on US Treasury securities embedded in the Portfolios emerging market debt securities (to a greater or lesser degree, depending on the currency in which the debt security is denominated). Similarly, the Portfolio also may enter into futures contracts on US Treasury securities in combination with a credit default swap that provides exposure to emerging markets debt securities, baskets of securities or indices.
The Portfolio may, but is not required to enter into forward currency contracts and credit default swaps, for hedging purposes or to seek to increase returns. The Portfolio is classified as non-diversified under the 1940 Act, which means that it may invest a relatively high percentage of its assets in a limited number of issuers, when compared to a diversified fund.
C000134198 Performance
Total returns for C000134198 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -6.4% |
| 3 years (annualised) | -0.0% |
C000134198 Risk Information
Risk metrics for C000134198, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.7%
C000134198 Costs and Fees
C000134198 costs about $81 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.81%
- Gross expense ratio: 245.33%
- Portfolio turnover: 81%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000134198 Cashflows
Over the 12 months to 2023-03, Lazard Emerging Markets Debt Portfolio had net outflows of $7.53M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-03 | −$6.65M |
| 2023-02 | −$404.59K |
| 2023-01 | $67.07K |
| 2022-12 | −$477.47K |
| 2022-11 | −$42.87K |
| 2022-10 | $44.33K |
C000134198 Debt Constituents
No individual debt constituents are reported in Lazard Emerging Markets Debt Portfolio's latest SEC N-PORT filing.
C000134198 Prospectus and SEC Filings
Official Lazard Emerging Markets Debt Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-04-26
- Prospectus supplement (497) — filed 2022-04-29
- Prospectus supplement (497) — filed 2021-04-29
- Portfolio holdings (N-PORT) — filed 2023-05-30
- Portfolio holdings (N-PORT) — filed 2023-02-28
- Portfolio holdings (N-PORT) — filed 2022-11-29
- Annual census (N-CEN) — filed 2023-03-15
- Annual census (N-CEN) — filed 2022-03-11
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.