Lazard International Equity Value Portfolio

Data updated: 2022-05-27

C000205573 — Lazard International Equity Value Portfolio. Emerging Markets Value Equity · $2.72M AUM. Holdings, fees, performance and SEC filings.

C000205573 Fund Overview

Lazard International Equity Value Portfolio is a US mutual fund managed by Lazard Funds INC, categorised as Emerging Markets Value Equity. 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: Emerging Markets Value Equity
Assets under management: $2.72M
1-year return: -6.8%
SEC CIK: 0000874964
SEC series ID: S000063440
Share class ID: C000205573

C000205573 Investment Objective and Strategy

Lazard International Equity Value 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 long-term capital appreciation.

Principal investment strategy

The Portfolio invests primarily in equity securities, principally common stocks, of non-US companies. The Portfolio has a concentrated portfolio of investments, typically investing in 20 to 30 securities of non-US companies, including those whose principal business activities are located in emerging market countries. The Investment Manager seeks to realize the Portfolios investment objective primarily by investing in companies that the Investment Manager believes are undervalued and whose valuations will benefit from potential company-specific catalysts identified by the Investment Manager. For example, the Investment Manager may seek to invest in companies engaging in activities that the Investment Manager believes will improve the companies fundamentals, resolve circumstances that may be negatively affecting valuation and/or improve market and investor perceptions of the companies.

The Investment Manager divides these catalysts into three main categories: self-help, positive changes in capital allocation and business simplifications. Self-Help Many companies undertake self-directed initiatives intended to drive improvement in fundamentals regardless of macroeconomic conditions. These initiatives may range from large-scale corporate restructurings to smaller-scale cost-cutting programs. In many cases, new corporate management teams, changes to the board of directors and/or shifts in a companys ownership structure are the impetus for self-help plans. Positive Changes in Capital Allocation The Investment Manager believes companies seeking to address inefficient balance sheets often offer opportunities to add value to shareholders. The Portfolio seeks to invest in companies undertaking special capital returns, deleveraging programs and/or value-enhancing reinvestment or mergers and acquisitions.

In-depth analysis of balance sheet and cash flow potential, as well as interviews with corporate management teams, helps the Investment Manager identify potential positive capital allocation change opportunities before they are reflected in equity prices. Business Simplifications The simplification of organizational and ownership structures often enables corporate management to increase returns through more effective resource allocation and less operational distraction. Furthermore, monetization of hidden value within a company may occur as a result of asset sales, spin-offs or wind-downs. Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities. The Portfolio may invest in securities of companies across the capitalization spectrum. At times, the Portfolio may engage in active and frequent trading, which will increase portfolio turnover.

The Investment Manager may seek to hedge some or all foreign currency exposure in the Portfolio against movements relative to the US dollar by entering into foreign currency forward contracts, but the Investment Manager may determine not to hedge some or all of the Portfolios foreign currency exposure from time-to-time or at any time. The Portfolio is classified as non-diversified under the Investment Company Act of 1940, as amended (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.

C000205573 Performance

Total returns for C000205573 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-6.8%
3 years (annualised)	0.2%

C000205573 Risk Information

Risk metrics for C000205573, derived from monthly returns in SEC filings.

1-year volatility (annualised): 12.1%

C000205573 Costs and Fees

C000205573 costs about $120 per $10,000 invested per year in fund expenses.

Net expense ratio: 1.20%
Gross expense ratio: 14.79%
Portfolio turnover: 70%
Brokerage commissions: 13.35 bps of average net assets (SEC N-CEN)

C000205573 Cashflows

Over the 12 months to 2022-03, Lazard International Equity Value Portfolio had net outflows of $32.12K, from monthly SEC N-PORT filings.

Month	Net flow
2022-03	−$57.41K
2022-02	−$14.73K
2022-01	$323
2021-12	$106.51K
2021-11	−$10.07K
2021-10	−$3.15K

C000205573 Debt Constituents

No individual debt constituents are reported in Lazard International Equity Value Portfolio's latest SEC N-PORT filing.

C000205573 Prospectus and SEC Filings

Official Lazard International Equity Value Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Emerging Markets Value Equity 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.