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GLFOX Lazard Global Listed Infrastructure Open

  • Fund
  • GLFOX
  • Price as of: Sep 13, 2019
  • $15.24 - $0.08 - 0.52%

GLFOX - Profile

Vitals

  • YTD Return 12.7%
  • 3 Yr Annualized Return 3.2%
  • 5 Yr Annualized Return 0.7%
  • Net Assets $6.92 B
  • Holdings in Top 10 55.3%

52 WEEK LOW AND HIGH

$15.24
$13.27
$15.71

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.20%

SALES FEES

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

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$2,500

IRA

$2,500

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Infrastructure

Distributions

  • YTD Total Return 12.7%
  • 3 Yr Annualized Total Return 7.7%
  • 5 Yr Annualized Total Return 8.1%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 2.36%
DIVIDENDS
  • Dividend Yield 1.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name Lazard Global Listed Infrastructure Portfolio
  • Fund Family Name Lazard
  • Inception Date Dec 31, 2009
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager John Mulquiney

Fund Description

The fund invests primarily in equity securities, principally common stocks, of infrastructure companies and concentrates its investments in industries represented by infrastructure companies. It invests at least 80% of its assets in equity securities of infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, ports, telecommunications and other infrastructure companies, with securities listed on a national or other recognized securities exchange.

GLFOX - Performance

Return Ranking - Trailing

Period GLFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.7% -4.6% 22.9% 72.04%
1 Yr -1.7% -19.9% 14.3% 47.27%
3 Yr 3.2%* -4.5% 9.4% 56.71%
5 Yr 0.7%* -17.2% 4.7% 45.51%
10 Yr N/A* -12.1% 7.6% N/A

* Annualized


Return Ranking - Calendar

Period GLFOX Return Category Return Low Category Return High Rank in Category (%)
2018 -15.6% -32.5% -0.1% 61.87%
2017 12.7% 0.8% 74.7% 71.24%
2016 5.6% -18.4% 66.3% 38.46%
2015 -2.1% -62.1% 10.0% 13.50%
2014 4.5% -37.6% 16.3% 19.86%

Total Return Ranking - Trailing

Period GLFOX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.7% -4.6% 22.9% 72.04%
1 Yr -1.1% -18.4% 14.9% 53.09%
3 Yr 7.7%* -4.4% 12.4% 27.71%
5 Yr 8.1%* -17.2% 8.5% 4.49%
10 Yr N/A* -12.1% 10.6% N/A

* Annualized


Total Return Ranking - Calendar

Period GLFOX Return Category Return Low Category Return High Rank in Category (%)
2018 -11.9% -32.5% 2.2% 46.30%
2017 20.4% 1.3% 74.7% 37.77%
2016 9.0% -11.4% 66.3% 14.90%
2015 9.0% -62.1% 11.5% 1.84%
2014 17.7% -37.6% 18.1% 1.37%

NAV & Total Return History

GLFOX - Holdings

Concentration Analysis

GLFOX Category Low Category High GLFOX % Rank
Net Assets 6.92 B 1.44 M 6.92 B 0.35%
Number of Holdings 33 5 2327 48.24%
Net Assets in Top 10 3.72 B -89.3 M 3.72 B 0.35%
Weighting of Top 10 55.29% 13.4% 121.1% 58.45%

Top 10 Holdings

  1. National Grid PLC 8.12%

  2. Atlantia SpA 8.04%

  3. Norfolk Southern Corp 7.55%

  4. Vinci SA 4.66%

  5. Transurban Group 4.62%

  6. Terna SpA 4.60%

  7. Kansas City Southern 4.57%

  8. United Utilities Group PLC 4.39%

  9. Snam SpA 4.39%

  10. Severn Trent PLC 4.36%


Asset Allocation

Weighting Return Low Return High GLFOX % Rank
Stocks
92.24% 82.18% 102.69% 82.75%
Cash
7.76% -2.90% 16.70% 9.86%
Preferred Stocks
0.00% 0.00% 0.81% 44.72%
Other
0.00% -2.37% 10.84% 61.97%
Convertible Bonds
0.00% 0.00% 3.11% 54.58%
Bonds
0.00% 0.00% 4.98% 55.99%

Stock Sector Breakdown

Weighting Return Low Return High GLFOX % Rank
Utilities
45.32% 0.00% 59.38% 7.39%
Industrials
38.93% 0.51% 42.99% 1.06%
Consumer Cyclical
3.68% 0.00% 23.58% 70.77%
Technology
2.74% 0.00% 38.51% 72.18%
Real Estate
0.00% 0.00% 11.49% 91.20%
Healthcare
0.00% 0.00% 30.01% 75.00%
Financial Services
0.00% 0.00% 47.66% 77.46%
Energy
0.00% 0.00% 35.95% 99.30%
Communication Services
0.00% 0.00% 33.42% 95.42%
Consumer Defense
0.00% 0.00% 23.55% 75.35%
Basic Materials
0.00% 0.00% 18.13% 79.93%

Stock Geographic Breakdown

Weighting Return Low Return High GLFOX % Rank
Non US
71.01% 20.74% 100.17% 15.14%
US
21.23% -2.59% 76.73% 85.21%

GLFOX - Expenses

Operational Fees

GLFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.20% 0.01% 18.47% 49.10%
Management Fee 0.90% 0.00% 1.50% 72.89%
12b-1 Fee 0.25% 0.00% 1.00% 38.17%
Administrative Fee 0.02% 0.00% 0.40% 4.62%

Sales Fees

GLFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GLFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.05% 2.00% 88.89%

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.

GLFOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 0.00% 448.00% 55.91%

GLFOX - Distributions

Dividend Yield Analysis

GLFOX Category Low Category High GLFOX % Rank
Dividend Yield 1.06% 0.00% 2.20% 30.63%

Dividend Distribution Analysis

GLFOX Category Low Category High Category Mode
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

GLFOX Category Low Category High GLFOX % Rank
Net Income Ratio 2.36% -4.01% 5.73% 16.25%

Capital Gain Distribution Analysis

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

GLFOX - Managers

John Mulquiney

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2009

9.67

9.7%

John Mulquiney is a Portfolio Manager/Analyst on the Global Listed Infrastructure and Global Equity Franchise teams. He has been working in the investment field since 1997. Prior to joining Lazard in August 2005, John worked at Tyndall Australia where he covered stocks in various sectors including financials, consumer discretionary, health care and materials. John was also in the Asset and Infrastructure Group at Macquarie Bank, where he undertook transactions and developed valuation models for airports, electricity generators, rail projects and health infrastructure. John holds a PhD from the Australian National University, and a BA (Hons) from Sydney University. He is a CFA® charter holder.


Warryn Robertson

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2009

9.67

9.7%

Warryn Robertson is a portfolio manager/analyst on the Lazard Asset Management's Global Listed Infrastructure and Global Equity Franchise teams. Prior to joining Lazard Asset Management in April 2001, Mr. Robertson spent three years with Capital Partners, an independent advisory house, where he was an associate director developing business valuations for infrastructure assets and other alternative equity investments including airports, toll roads, timber plantations, power stations and coal mines. Mr. Robertson is a member of the Securities Institute of Australia and the Institute of Chartered Accountants.


Matthew Landy

Manager

Start Date

Tenure

Tenure Rank

Mar 31, 2016

3.42

3.4%

Matthew Landy—Matthew Landy is a portfolio manager/analyst on the Global Listed Infrastructure and Global Equity Franchise teams. He began working in the investment field in 1995. Prior to joining Lazard in 2006, Landy worked in the private equity industry where he was involved in early stage venture capital in Europe and management buy-out investing in Australia. Previously he was an equity analyst with Tyndall Investment Management covering stocks in the consumer staples, consumer discretionary, and industrial sectors. Landy has a BCom and a BA from Monash University in Melbourne, Australia. Landy has served as a portfolio manager for the Fund since its inception.


Bertrand Cliquet

Manager

Start Date

Tenure

Tenure Rank

Sep 30, 2017

1.92

1.9%

Bertrand Cliquet is a Portfolio Manager/Analyst on the Global Listed Infrastructure and Global Equity Franchise teams. Before joining Lazard in 2004, Bertrand worked for Goldman Sachs International as a Research Analyst. Earlier, he worked in the Mergers and Acquisitions group at Deutsche Bank, focusing on the utility and retail sectors. He also did an internship at Enskilda Securities in Paris, where he worked as an analyst covering the retail sector. Bertrand has been working in the investment field since 1999. He attained a business degree from HEC in Paris, with a major in Finance. Bertrand was awarded the Prize of the "Club Finance International", and the Prize of the HEC Foundation for his thesis on "The deregulation of the European electricity market and its consequences for electricity prices and the strategic positioning of energy companies". Bertrand is fluent in both French and German. He is a CFA® charter holder.


Tenure Analysis

Category Low

0.07

Category High

27.78

Category Average

5.23

Category Mode

5.33