Lazard Emerging Markets Income Portfolio
Data updated: 2019-11-19
C000141030 — Lazard Emerging Markets Income Portfolio. Money Market · $5.29M AUM · 0.91% expense ratio. Holdings, fees, performance and SEC filings.
C000141030 Fund Overview
Lazard Emerging Markets Income 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: $5.29M
- SEC CIK: 0000874964
- SEC series ID: S000045295
- Share class ID: C000141030
C000141030 Investment Objective and Strategy
Lazard Emerging Markets Income 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 consisting of appreciation and income.
Principal investment strategy
Under normal circumstances, the Portfolio invests at least 80% of its assets in currencies, debt securities, derivative instruments and other investments that are economically tied to emerging market countries. Such investments may include combinations of these instruments that have economic characteristics similar to currencies or debt securities economically tied to emerging markets countries, such as a currency forward contract denominated in an emerging markets currency and US dollar-denominated debt security in a principal amount corresponding to the notional value of forward contracts, which together have economic characteristics similar to a debt security denominated in the emerging markets currency. Derivatives instruments in which the Portfolio may invest include forward currency contracts (including non-deliverable forward contracts).
Debt securities in which the Portfolio may invest include debt securities issued or guaranteed by governments, government agencies or supranational bodies; corporate obligations; fixed and/or adjustable rate or inflation-linked investment grade and non-investment grade bonds (junk bonds); convertible securities; zero coupon securities; CDOs; short- and medium-term obligations and other fixed-income obligations; and commercial paper and money market instruments such as certificates of deposit. Emerging market countries include all countries represented by the JPMorgan Emerging Local Markets Plus Index (ELMI +) or countries outside of the G-10, although the allocation of the Portfolios assets among countries and regions may vary from time to time based on the judgment of the Investment Manager and its analysis of market conditions.
The securities or instruments in which the Portfolio invests may be denominated in US and non-US currencies, including the local currency of the issuer. Although the Portfolio is not restricted to investments in securities of any particular maturity or duration, the average duration of the Portfolio is expected to be short, typically less than one year. The Investment Manager may extend duration in particular countries when domestic yield curves are favorable. The Portfolio is not limited to securities of any particular quality or investment grade and, as a result, the Portfolio may invest 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. The Portfolio may, but is not required to, use derivative instruments that are part of its primary investment strategy, such as forward currency contracts, for hedging purposes.
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.
C000141030 Costs and Fees
C000141030 costs about $91 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.91%
- Gross expense ratio: 3.80%
- Portfolio turnover: 65%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000141030 Cashflows
Over the 12 months to 2019-09, Lazard Emerging Markets Income Portfolio had net inflows of $23.69K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2019-09 | −$2.17K |
| 2019-08 | $11.10K |
| 2019-07 | $14.76K |
C000141030 Debt Constituents
No individual debt constituents are reported in Lazard Emerging Markets Income Portfolio's latest SEC N-PORT filing.
C000141030 Prospectus and SEC Filings
Official Lazard Emerging Markets Income Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
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.