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LZEMX Lazard Emerging Markets Equity Instl

  • Fund
  • LZEMX
  • Price as of: Aug 08, 2016
  • $16.49
  • + $0.12
  • + 0.73%
  • Category
  • Emerging Markets Equities

LZEMX - Profile

Vitals

  • YTD Return 22.7%
  • 3 Yr Annualized Return -1.0%
  • 5 Yr Annualized Return -1.8%
  • Net Assets $11.2 B
  • Holdings in Top 10 32.1%

52 WEEK LOW AND HIGH

$16.49
$11.97
$16.49

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.10%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 14.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

Closed to new investors as of 2010-07-19

STANDARD (TAXABLE)

$100,000

IRA

$100,000

Investment Themes

CATEGORY

Emerging Markets Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Diversified Emerging Mkts

Distributions

  • YTD Total Return 22.7%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return -1.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.83%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name Lazard Emerging Markets Equity Portfolio
  • Fund Family Name Lazard
  • Inception Date Jul 15, 1994
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager John R. Reinsberg

Fund Description

The Lazard Emerging Markets Equity Portfolio Institutional Shares (LZEMX) is an actively managed fund that seeks to aggressively grow investor capital. The fund invests in emerging-market stocks of all market caps that meet certain value metrics. These include contrasting price with growth potential. LZEMX also applies quantitative research to its stock picks in order to monitor risks with regards to country selection.

With a unique twist on emerging-market equities, LZEMX could make for a great subcore position for investors. The fund is managed by Lazard Asset Management Ltd.

LZEMX - Performance

Return Ranking - Trailing

Period LZEMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 22.7% -32.2% 261.5% 3.40% 1
1 Yr 1.6% -24.4% 25.4% 25.94% 2
3 Yr -1.0% * -9.8% 21.2% 63.13% 4
5 Yr -1.8% * -11.8% 7.4% 39.61% 2
10 Yr 4.9% * -2.0% 8.0% 22.41% 2

* Annualized


Return Ranking - Calendar

Period LZEMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -21.8% -47.4% 5.5% 88.51% 5
2014 N/A -6.6% -6.6% N/A N/A
2013 N/A 7.7% 7.7% N/A N/A
2012 N/A 20.4% 20.4% N/A N/A
2011 N/A -19.6% -19.6% N/A N/A

Total Return Ranking - Trailing

Period LZEMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 22.7% -14.5% 261.5% 3.47% 1
1 Yr 1.6% -28.2% 21.4% 20.72% 2
3 Yr -1.0% * -10.9% 21.2% 56.56% 3
5 Yr -1.8% * -12.2% 7.4% 35.94% 2
10 Yr 4.9% * -2.0% 8.0% 20.33% 1

* Annualized


Total Return Ranking - Calendar

Period LZEMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -21.8% -47.4% 5.5% 88.39% 5
2014 N/A -6.6% -6.6% N/A N/A
2013 N/A 8.4% 8.4% N/A N/A
2012 N/A 21.1% 21.1% N/A N/A
2011 N/A -18.5% -18.5% N/A N/A

NAV & Total Return History

LZEMX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

LZEMX Category Low Category High LZEMX % Rank Quintile
Net Assets 11.2 B 272 64.2 B 1.16% 1
Number of Holdings 82 1 4232 17.39% 4
Net Assets in Top 10 3.4 B 0 9.53 B 0.58% 1
Weighting of Top 10 32.1% 0.0% 181.6% 8.70% 2

Top 10 Holdings

  1. Taiwan Semiconductor Manufacturing Co Ltd 4.43%
  2. Samsung Electronics Co Ltd 3.29%
  3. China Construction Bank Corp H 4.14%
  4. China Mobile Ltd ADR 2.93%
  5. Tata Consultancy Services Ltd 2.82%
  6. NetEase Inc ADR 3.12%
  7. Baidu Inc ADR 2.84%
  8. PT Telekomunikasi Indonesia (Persero) Tbk ADR 3.04%
  9. Sberbank of Russia PJSC 3.12%
  10. Cielo SA 2.41%

Asset Allocation

Weighting Category Low Category High LZEMX % Rank Quintile
Stocks
95.51% 0.00% 100.40% 15.51% 3
Cash
3.09% -81.97% 100.00% 9.86% 2
Other
1.40% -1.37% 31.18% 12.03% 3
Convertible Bonds
0.00% 0.00% 11.35% 0.87% 3
Preferred Stocks
0.00% 0.00% 9.90% 10.29% 4
Bonds
0.00% 0.00% 98.05% 5.36% 3

Stock Sector Breakdown

Weighting Category Low Category High LZEMX % Rank Quintile
Financial Services
26.30% 0.00% 45.31% 4.95% 1
Technology
23.68% 0.00% 38.96% 5.68% 2
Communication Services
11.70% 0.00% 20.02% 2.33% 1
Consumer Cyclical
9.69% 0.00% 29.65% 19.94% 4
Energy
7.13% 0.00% 23.29% 6.99% 2
Industrials
6.12% 0.00% 28.91% 15.14% 3
Consumer Defense
5.02% 0.00% 43.71% 24.02% 5
Basic Materials
3.75% 0.00% 15.64% 20.38% 4
Healthcare
0.25% 0.00% 20.10% 27.07% 5
Real Estate
0.00% 0.00% 11.28% 25.47% 5
Utilities
0.00% 0.00% 53.57% 24.75% 5

Stock Geographic Breakdown

Weighting Category Low Category High LZEMX % Rank Quintile
Non US
95.51% 0.00% 100.52% 11.74% 2
US
0.00% -3.75% 99.89% 18.41% 4

LZEMX - Expenses

Operational Fees

LZEMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.10% 0.08% 935.74% 35.03% 1
Management Fee 1.00% 0.03% 2.00% 4.78% 3
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee 0.02% 0.00% 0.55% 9.02% 1

Sales Fees

LZEMX Fees (% of AUM) Category Low Category High LZEMX Rank Quintile
Front Load N/A 0.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

LZEMX Fees (% of AUM) Category Low Category High LZEMX Rank Quintile
Max Redemption Fee 1.00% 0.50% 2.00% 1.23% 1

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

LZEMX Fees (% of AUM) Category Low Category High LZEMX Rank Quintile
Turnover 14.00% 0.00% 947.00% 18.31% 1

LZEMX - Distributions

Dividend Yield Analysis

LZEMX Category Low Category High LZEMX % Rank Quintile
Dividend Yield 0.4% 0.00% 3.56% 12.65% 1

Dividend Distribution Analysis

LZEMX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

LZEMX Category Low Category High LZEMX % Rank Quintile
Net Income Ratio 1.83% -1.67% 5.89% 11.63% 1

Capital Gain Distribution Analysis

LZEMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

LZEMX - Managers

John R. Reinsberg

Manager

Start Date

Jul 15, 1994

Tenure

22.06

Tenure Rank

0.3%

John Reinsberg is Deputy Chairman of Lazard Asset Management responsible for oversight of the firm's international and global strategies. He is also a Portfolio Manager/Analyst on the Global Equity and International Equity portfolio teams. He began working in the investment field in 1981. Prior to joining Lazard in 1992, John was Executive Vice President with General Electric Investment Corporation and Trustee of the General Electric Pension Trust.


Rohit Chopra

Manager

Start Date

May 01, 2007

Tenure

9.26

Tenure Rank

2.2%

Rohit Chopra Managing Director, Portfolio Manager/Analyst Lazard Asset Management LLC (New York) Rohit Chopra is a Portfolio Manager/Analyst on the Emerging Markets Equity team, focusing on consumer and telecommunications research and analysis. He began working in the investment field in 1996. Prior to joining Lazard in 1999, Rohit was with Financial Resources Group, Deutsche Bank and Morgan Stanley. He has a BS in Finance and Information Systems from New York University and also studied at the London School of Economics and Political Science.


James M. Donald

Lead Manager

Start Date

Nov 30, 2001

Tenure

14.68

Tenure Rank

0.9%

James Donald is a Portfolio Manager/Analyst on the Emerging Markets Equity team and Head of the Emerging Markets Group. He is also a member of the International Equity Select with Emerging Markets team. Since joining Lazard in 1996, James has been instrumental in developing and coordinating the emerging markets activities at Lazard. He began working in the investment field in 1983. Prior to joining Lazard, James was a Portfolio Manager with Mercury Asset Management. He has a BA (Hons) in history from the University of Western Ontario.


Monika Shrestha

Manager

Start Date

Dec 31, 2014

Tenure

1.58

Tenure Rank

9.7%

Monika Shrestha Senior Vice President, Portfolio Manager/Analyst Lazard Asset Management LLC (New York) Monika Shrestha is a Research Analyst on the Emerging Markets Equity team, focusing on the financials sector. She began working in the investment field in 1997. Prior to joining Lazard in 2003, Monika was a principal at Waterview Advisors and a Corporate Finance Analyst with Salomon Smith Barney. She has an MBA from the Harvard Business School, a BSE in Computer Science and Engineering and a BS in Economics (with a concentration in Finance) from the University of Pennsylvania.


Tenure Analysis

Category Low

0.0

Category High

24.8

Category Average

4.78

Category Mode

1.6