Lazard Global Dynamic Multi-Asset Portfolio
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.0%
1 yr return
7.9%
3 Yr Avg Return
-0.2%
5 Yr Avg Return
2.4%
Net Assets
$10.5 M
Holdings in Top 10
11.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 4.86%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 83.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
GDMOX - Profile
Distributions
- YTD Total Return 1.0%
- 3 Yr Annualized Total Return -0.2%
- 5 Yr Annualized Total Return 2.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.69%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameLazard Global Dynamic Multi-Asset Portfolio
-
Fund Family NameLAZARDFUND
-
Inception DateMay 27, 2016
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJai Jacob
Fund Description
The Investment Manager allocates the Portfolio’s assets among various US and non-US equity and fixed-income strategies managed by the Investment Manager in proportions consistent with the Investment Manager’s evaluation of various economic and other factors designed to estimate probabilities, including volatility. The Investment Manager makes allocation decisions among the strategies based on quantitative and qualitative analysis using a number of different tools, including proprietary software models and input from the Investment Manager’s research analysts. At any given time the Portfolio’s assets may not be allocated to all strategies.
A principal component of the Investment Manager’s investment process for the Portfolio is volatility management. The Investment Manager generally will seek to achieve, over a full market cycle, a level of volatility in the Portfolio’s performance of approximately 10%. Volatility, a risk measurement, measures the magnitude of up and down fluctuations in the value of a financial instrument or index over time.
As a consequence of allocating its assets among various of the Investment Manager’s investment strategies, the Portfolio may:
·invest in US and non-US equity and debt securities (including those of companies with business activities located in emerging market countries and securities issued by governments of such countries), depositary receipts and shares, currencies and related instruments, and structured notes
·invest in exchange-traded open-end management investment companies (“ETFs”), generally those that pursue a passive index-based strategy
·invest in securities of companies of any size or market capitalization
·invest in debt securities of any maturity or duration
·invest in securities of any particular quality or investment grade and, as a result, the Portfolio may invest significantly in securities rated below investment grade (e.g., lower than Baa by Moody’s Investors Service, Inc. or lower than BBB by S&P Global Ratings) (“junk bonds”) or securities that are unrated
·enter into swap agreements (including credit default swap agreements) and forward contracts, and may purchase and write put and covered call options, on securities, indexes and currencies, for hedging purposes (although it is not required to do so) or to seek to increase returns
Under normal market conditions, the Portfolio invests significantly (at least 40%—unless market conditions are not deemed favorable by the Investment Manager, in which case the Portfolio would invest at least 30%) in issuers organized or located outside the US or doing a substantial amount of business outside the US, securities denominated in a foreign currency or foreign currency forward contracts.
GDMOX - Performance
Return Ranking - Trailing
Period | GDMOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.0% | -23.7% | 16.4% | 86.70% |
1 Yr | 7.9% | -8.9% | 48.3% | 44.85% |
3 Yr | -0.2%* | -2.2% | 16.4% | 91.54% |
5 Yr | 2.4%* | -0.7% | 13.4% | 78.74% |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | GDMOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 9.2% | -40.8% | 20.6% | 92.24% |
2022 | -20.2% | -21.0% | 24.5% | 76.99% |
2021 | -5.8% | -24.2% | 27.8% | 11.45% |
2020 | -0.9% | -23.1% | 11.7% | 95.02% |
2019 | 16.3% | -100.0% | 20.6% | 12.26% |
Total Return Ranking - Trailing
Period | GDMOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.0% | -23.7% | 16.4% | 86.05% |
1 Yr | 7.9% | -12.8% | 48.3% | 41.53% |
3 Yr | -0.2%* | -3.4% | 16.4% | 89.74% |
5 Yr | 2.4%* | -1.1% | 13.4% | 73.23% |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | GDMOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.9% | -40.8% | 20.6% | 92.24% |
2022 | -17.2% | -21.0% | 24.5% | 76.99% |
2021 | 11.8% | -24.2% | 27.8% | 11.45% |
2020 | 0.8% | -23.1% | 11.7% | 97.27% |
2019 | 17.4% | -2.9% | 23.1% | 4.09% |
NAV & Total Return History
GDMOX - Holdings
Concentration Analysis
GDMOX | Category Low | Category High | GDMOX % Rank | |
---|---|---|---|---|
Net Assets | 10.5 M | 1.12 M | 110 B | 95.46% |
Number of Holdings | 604 | 2 | 10961 | 34.86% |
Net Assets in Top 10 | 1.25 M | -31.7 M | 22 B | 91.86% |
Weighting of Top 10 | 11.91% | 10.8% | 100.0% | 74.94% |
Top 10 Holdings
- Apple Inc 2.04%
- Microsoft Corp 1.88%
- iShares MSCI World ETF 1.12%
- Alphabet Inc 1.06%
- NVIDIA Corp 1.04%
- United States Treasury Note/Bond 1.02%
- United States Treasury Note/Bond 0.99%
- Province of British Columbia Canada 0.98%
- Czech Republic Government Bond 0.93%
- Housing New Zealand Ltd 0.86%
Asset Allocation
Weighting | Return Low | Return High | GDMOX % Rank | |
---|---|---|---|---|
Stocks | 57.50% | -45.72% | 98.42% | 86.22% |
Bonds | 42.84% | -39.76% | 93.84% | 8.98% |
Convertible Bonds | 1.43% | 0.00% | 25.49% | 20.46% |
Preferred Stocks | 0.00% | -0.03% | 14.00% | 83.30% |
Cash | 0.00% | -97.12% | 185.58% | 43.42% |
Other | -0.15% | -1.25% | 197.12% | 84.97% |
Stock Sector Breakdown
Weighting | Return Low | Return High | GDMOX % Rank | |
---|---|---|---|---|
Technology | 21.42% | 0.00% | 39.48% | 21.02% |
Healthcare | 14.28% | 0.00% | 30.30% | 15.71% |
Financial Services | 13.18% | 0.00% | 30.34% | 66.67% |
Industrials | 12.29% | 0.09% | 32.39% | 21.44% |
Consumer Cyclical | 9.60% | 0.00% | 20.84% | 44.80% |
Consumer Defense | 8.97% | 0.00% | 31.85% | 20.81% |
Communication Services | 8.51% | 0.00% | 28.59% | 23.35% |
Energy | 3.71% | 0.00% | 38.61% | 74.73% |
Basic Materials | 2.88% | 0.00% | 60.23% | 88.32% |
Utilities | 2.85% | 0.00% | 40.29% | 49.68% |
Real Estate | 2.31% | 0.00% | 90.14% | 73.25% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | GDMOX % Rank | |
---|---|---|---|---|
US | 42.83% | -4.82% | 95.75% | 66.81% |
Non US | 14.66% | -46.69% | 57.06% | 89.35% |
Bond Sector Breakdown
Weighting | Return Low | Return High | GDMOX % Rank | |
---|---|---|---|---|
Government | 50.03% | 0.00% | 98.64% | 21.29% |
Corporate | 36.81% | 0.00% | 99.90% | 34.86% |
Municipal | 1.89% | 0.00% | 31.28% | 4.59% |
Cash & Equivalents | 0.00% | 0.10% | 100.00% | 67.01% |
Securitized | 0.00% | 0.00% | 83.28% | 86.43% |
Derivative | -0.15% | 0.00% | 41.88% | 45.09% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | GDMOX % Rank | |
---|---|---|---|---|
Non US | 24.00% | -39.00% | 137.36% | 4.18% |
US | 18.83% | -177.12% | 87.76% | 32.15% |
GDMOX - Expenses
Operational Fees
GDMOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 4.86% | 0.16% | 2.71% | 39.46% |
Management Fee | 0.80% | 0.00% | 1.70% | 85.65% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.45% |
Administrative Fee | N/A | 0.01% | 0.70% | 5.15% |
Sales Fees
GDMOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
GDMOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | 85.42% |
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.
GDMOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 83.00% | 0.00% | 441.00% | 68.90% |
GDMOX - Distributions
Dividend Yield Analysis
GDMOX | Category Low | Category High | GDMOX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 10.92% | 15.59% |
Dividend Distribution Analysis
GDMOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Monthly | Monthly |
Net Income Ratio Analysis
GDMOX | Category Low | Category High | GDMOX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.69% | -5.20% | 6.33% | 78.43% |
Capital Gain Distribution Analysis
GDMOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 23, 2022 | $0.257 | OrdinaryDividend |
Aug 19, 2022 | $0.044 | OrdinaryDividend |
Aug 20, 2021 | $0.156 | OrdinaryDividend |
Dec 23, 2020 | $0.188 | OrdinaryDividend |
Dec 24, 2018 | $0.141 | OrdinaryDividend |
Dec 22, 2017 | $0.102 | OrdinaryDividend |
GDMOX - Fund Manager Analysis
Managers
Jai Jacob
Start Date
Tenure
Tenure Rank
May 27, 2016
6.01
6.0%
Jai Jacob is a Managing Director and Portfolio Manager/Analyst, leading the Lazard Multi-Asset investment team. Prior to joining the Multi-Asset investment team, Jai worked in Global Risk Management, Fixed Income, Quantitative Technology and Settlements. He led the development of Lazard's proprietary Risk Analysis system, and has built quantitative analytical tools for over 40 Lazard investment strategies. Jai began working in the investment field in 1998 upon joining Lazard. He has a BA from Cornell University.
Stephen Marra
Start Date
Tenure
Tenure Rank
May 27, 2016
6.01
6.0%
Stephen Marra is a Director and Portfolio Manager/Analyst on the Lazard Multi-Asset investment team, specializing in strategy research. Prior to joining the Multi-Asset investment team, Stephen worked in Settlements, Fixed Income Risk and Quantitative Technology where he helped design and develop Lazard's proprietary trading and risk management systems. He began working in the investment field in 1999 upon joining Lazard. Steve has a BS in Biology from Cornell University.
Kim Tilley
Start Date
Tenure
Tenure Rank
May 01, 2020
2.08
2.1%
Kim Tilley is a Portfolio Manager/Analyst on the Lazard Multi-Asset investment team, specializing in ETFs. She began working in the investment field in 2000. Prior to joining Lazard in 2002, Kim worked on the Institutional Equity Sales Desk at Wachovia Securities, Inc. She has a BS in Finance from Miami University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |