Lazard Emerging Markets Debt R6
Name
As of 04/24/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$7.45 M
Holdings in Top 10
22.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio N/A
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 81.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RLEDX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.06%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameLazard Emerging Markets Debt Portfolio
-
Fund Family NameLazard
-
Inception DateJul 28, 2016
-
Shares OutstandingN/A
-
Share ClassRetirement
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerDenise Simon
Fund Description
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, commercial paper, collateralized debt obligations, 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 Portfolio’s assets among countries and regions may vary from time to time based on the Investment Manager’s 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 Moody’s Investors Service, Inc. or lower than BBB by S&P Global Ratings) (“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 Portfolio’s exposure to the risk of rising interest rates on US Treasury securities embedded in the Portfolio’s 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 Investment Company Act of 1940, as amended, 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.
RLEDX - Performance
Return Ranking - Trailing
Period | RLEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -4.3% | 11.9% | 48.34% |
1 Yr | N/A | -9.4% | 10.9% | 55.89% |
3 Yr | N/A* | -17.6% | 15.2% | 0.96% |
5 Yr | N/A* | -17.8% | 9.6% | 0.35% |
10 Yr | N/A* | -14.5% | 6.6% | 58.21% |
* Annualized
Return Ranking - Calendar
Period | RLEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -21.3% | -58.7% | 15.1% | 75.48% |
2022 | -9.5% | -12.8% | 25.4% | 71.66% |
2021 | -0.5% | -6.9% | 25.9% | 73.83% |
2020 | 9.6% | -19.2% | 4.3% | 24.66% |
2019 | -11.3% | -7.2% | 5.2% | 62.77% |
Total Return Ranking - Trailing
Period | RLEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -19.8% | 9.2% | 45.32% |
1 Yr | N/A | -21.4% | 10.9% | 52.57% |
3 Yr | N/A* | -17.6% | 15.1% | 0.97% |
5 Yr | N/A* | -17.8% | 9.5% | 0.70% |
10 Yr | N/A* | -14.5% | 10.6% | 57.71% |
* Annualized
Total Return Ranking - Calendar
Period | RLEDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -16.6% | -58.7% | 15.1% | 78.03% |
2022 | -5.7% | -12.8% | 25.4% | 70.68% |
2021 | 3.5% | -6.9% | 25.9% | 80.20% |
2020 | 14.5% | -19.2% | 4.3% | 31.85% |
2019 | -7.7% | -7.2% | 5.2% | 74.09% |
NAV & Total Return History
RLEDX - Holdings
Concentration Analysis
RLEDX | Category Low | Category High | RLEDX % Rank | |
---|---|---|---|---|
Net Assets | 7.45 M | 49.1 K | 15.2 B | 95.47% |
Number of Holdings | 224 | 4 | 2121 | 51.08% |
Net Assets in Top 10 | 3.84 M | -134 M | 1.25 B | 92.00% |
Weighting of Top 10 | 21.95% | 2.2% | 95.0% | 50.94% |
Top 10 Holdings
- State Str Instl Invt Tr Treas Mmkt Fd Inst 4.97%
- South Africa (Republic of) 8.5% 2.29%
- Secretaria Tesouro Nacional 10% 2.25%
- Russian Federation 4.375% 2.18%
- Saudi Arabia (Kingdom of) 2.25% 2.18%
- Mexico (United Mexican States) 5.75% 1.99%
- China (People's Republic Of) 3.12% 1.97%
- Secretaria Tesouro Nacional 0% 1.94%
- China Development Bank 1.86% 1.93%
- Indonesia(Rep Of) 8.375% 1.90%
Asset Allocation
Weighting | Return Low | Return High | RLEDX % Rank | |
---|---|---|---|---|
Bonds | 94.34% | -0.02% | 116.66% | 32.31% |
Cash | 5.66% | -16.66% | 101.67% | 58.46% |
Stocks | 0.00% | -0.47% | 2.07% | 27.08% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 2.15% |
Other | 0.00% | -3.28% | 3.53% | 8.62% |
Convertible Bonds | 0.00% | 0.00% | 8.47% | 59.69% |
RLEDX - Expenses
Operational Fees
RLEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | N/A | 0.17% | 43.25% | 69.05% |
Management Fee | 0.70% | 0.00% | 1.10% | 48.34% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.02% | 0.65% | 1.54% |
Sales Fees
RLEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
RLEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | 74.74% |
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.
RLEDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 81.00% | 0.00% | 218.00% | 66.20% |
RLEDX - Distributions
Dividend Yield Analysis
RLEDX | Category Low | Category High | RLEDX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 27.47% | 51.96% |
Dividend Distribution Analysis
RLEDX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
RLEDX | Category Low | Category High | RLEDX % Rank | |
---|---|---|---|---|
Net Income Ratio | 4.06% | -2.28% | 9.04% | 49.38% |
Capital Gain Distribution Analysis
RLEDX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 30, 2022 | $0.058 | DailyAccrualFund |
Oct 31, 2022 | $0.057 | DailyAccrualFund |
Sep 30, 2022 | $0.052 | DailyAccrualFund |
Aug 25, 2022 | $0.048 | DailyAccrualFund |
Jul 29, 2022 | $0.049 | DailyAccrualFund |
Jun 30, 2022 | $0.054 | DailyAccrualFund |
May 31, 2022 | $0.055 | DailyAccrualFund |
Apr 29, 2022 | $0.056 | DailyAccrualFund |
Mar 31, 2022 | $0.036 | DailyAccrualFund |
Feb 28, 2022 | $0.050 | DailyAccrualFund |
Jan 31, 2022 | $0.052 | DailyAccrualFund |
Dec 31, 2021 | $0.022 | DailyAccrualFund |
Nov 30, 2021 | $0.014 | DailyAccrualFund |
Oct 29, 2021 | $0.019 | DailyAccrualFund |
Sep 30, 2021 | $0.021 | DailyAccrualFund |
Aug 31, 2021 | $0.020 | DailyAccrualFund |
Jul 30, 2021 | $0.019 | DailyAccrualFund |
Jun 30, 2021 | $0.018 | DailyAccrualFund |
May 28, 2021 | $0.018 | DailyAccrualFund |
Apr 30, 2021 | $0.017 | DailyAccrualFund |
Mar 31, 2021 | $0.017 | DailyAccrualFund |
Feb 26, 2021 | $0.017 | DailyAccrualFund |
Jan 29, 2021 | $0.018 | DailyAccrualFund |
Dec 31, 2020 | $0.004 | DailyAccrualFund |
Nov 30, 2020 | $0.009 | DailyAccrualFund |
Oct 30, 2020 | $0.070 | DailyAccrualFund |
Sep 30, 2020 | $0.107 | DailyAccrualFund |
Aug 31, 2020 | $0.065 | DailyAccrualFund |
Jul 31, 2020 | $0.048 | DailyAccrualFund |
Jun 30, 2020 | $0.003 | DailyAccrualFund |
May 29, 2020 | $0.046 | DailyAccrualFund |
Apr 30, 2020 | $0.059 | DailyAccrualFund |
Mar 31, 2020 | $0.051 | DailyAccrualFund |
Feb 28, 2020 | $0.057 | DailyAccrualFund |
Jan 31, 2020 | $0.069 | DailyAccrualFund |
Dec 31, 2019 | $0.039 | DailyAccrualFund |
Nov 29, 2019 | $0.032 | DailyAccrualFund |
Oct 31, 2019 | $0.035 | DailyAccrualFund |
Sep 30, 2019 | $0.033 | DailyAccrualFund |
Aug 30, 2019 | $0.036 | DailyAccrualFund |
Jun 28, 2019 | $0.029 | DailyAccrualFund |
May 31, 2019 | $0.035 | DailyAccrualFund |
Apr 30, 2019 | $0.035 | DailyAccrualFund |
Mar 29, 2019 | $0.040 | DailyAccrualFund |
Feb 28, 2019 | $0.038 | DailyAccrualFund |
Jan 31, 2019 | $0.039 | DailyAccrualFund |
Dec 31, 2018 | $0.040 | DailyAccrualFund |
Nov 30, 2018 | $0.042 | DailyAccrualFund |
Oct 31, 2018 | $0.037 | DailyAccrualFund |
Aug 31, 2018 | $0.040 | DailyAccrualFund |
Jul 31, 2018 | $0.041 | DailyAccrualFund |
Jun 29, 2018 | $0.037 | DailyAccrualFund |
May 31, 2018 | $0.045 | DailyAccrualFund |
Apr 30, 2018 | $0.043 | DailyAccrualFund |
Jan 31, 2017 | $0.015 | DailyAccrualFund |
Dec 30, 2016 | $0.040 | DailyAccrualFund |
Nov 30, 2016 | $0.037 | DailyAccrualFund |
Oct 31, 2016 | $0.038 | DailyAccrualFund |
Sep 30, 2016 | $0.040 | DailyAccrualFund |
Aug 31, 2016 | $0.008 | DailyAccrualFund |
Jul 29, 2016 | $0.004 | DailyAccrualFund |
RLEDX - Fund Manager Analysis
Managers
Denise Simon
Start Date
Tenure
Tenure Rank
Feb 28, 2011
11.26
11.3%
Denise S. Simon, a Managing Director of Lazard Asset Management LLC, is a portfolio manager/analyst on Lazard’s Emerging Markets Debt team. Prior to joining Lazard in 2010, Ms. Simon was a Managing Director and portfolio manager at HSBC Asset Management. She also was associated with The Atlantic Advisors, Dresdner Kleinwort Wasserstein, Bayerische Vereinsbank, Lehman Brothers, Kleinwort Benson and UBS.
Arif Joshi
Start Date
Tenure
Tenure Rank
Feb 28, 2011
11.26
11.3%
Arif Joshi is a Portfolio Manager/Analyst on Lazard's Emerging Markets Debt team. He began working in the investment field in 1998. Prior to joining Lazard in 2010, Arif was with HSBC Asset Management (formerly Halbis) where he served as Senior Vice President and Portfolio Manager. At HSBC, Arif was responsible for global emerging markets, focusing on corporate and sovereign credit analysis, risk management and quantitative modeling. He began this role at The Atlantic Advisors LLC (acquired by HSBC in 2005). Prior to HSBC, he was an associate at Strategic Management Group where he advised Fortune 500 companies on finance and corporate strategy. Arif has an MBA in Finance from Columbia Business School and a BS in Economics from the Wharton School at the University of Pennsylvania.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 23.87 | 6.38 | 6.11 |