LCAOX: Lazard Opportunistic Strategies Open

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LCAOX Lazard Opportunistic Strategies Open

  • Fund
  • LCAOX
  • Price as of: Oct 18, 2019
  • $9.66 - $0.01 - 0.10%

LCAOX - Profile

Vitals

  • YTD Return 11.2%
  • 3 Yr Annualized Return -0.3%
  • 5 Yr Annualized Return -0.9%
  • Net Assets $84.5 M
  • Holdings in Top 10 68.5%

52 WEEK LOW AND HIGH

$9.66
$8.33
$9.84

Expenses

OPERATING RELATED FEES

  • Expense Ratio 4.22%

SALES FEES

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

BROKERAGE FEES

  • Turnover 227.00%

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 Tactical Allocation

Distributions

  • YTD Total Return 11.2%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.00%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Lazard Opportunistic Strategies Portfolio
  • Fund Family Name Lazard
  • Inception Date Mar 31, 2008
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager Stephen Marra

Fund Description

The fund utilizes an asset allocation strategy to invest in a global portfolio of uncorrelated assets that can include exposure, through underlying vehicles, to stocks, bonds, commodities and other investments. It invests primarily in ETFs and similar products, which generally pursue a passive index-based strategy as well as actively managed closed-end management investment companies ("closed-end funds") and exchange-traded notes ("ETNs" and collectively with ETFs and closed-end funds, "underlying funds").

LCAOX - Performance

Return Ranking - Trailing

Period LCAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.2% -21.7% 20.1% 23.60%
1 Yr -1.3% -28.3% 11.5% 62.26%
3 Yr -0.3%* -10.4% 9.6% 80.82%
5 Yr -0.9%* -15.4% 7.4% 69.23%
10 Yr 0.7%* -3.7% 11.3% 60.98%

* Annualized


Return Ranking - Calendar

Period LCAOX Return Category Return Low Category Return High Rank in Category (%)
2018 -17.6% -25.7% 1.6% 85.33%
2017 9.3% -11.6% 17.9% 43.54%
2016 3.7% -11.4% 276.9% 45.39%
2015 -7.1% -87.3% -1.0% 61.16%
2014 -2.1% -21.5% 68.3% 43.24%

Total Return Ranking - Trailing

Period LCAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.2% -21.7% 20.1% 24.22%
1 Yr -1.3% -28.3% 11.5% 67.92%
3 Yr 3.2%* -10.4% 9.6% 63.70%
5 Yr 3.0%* -15.4% 7.4% 40.17%
10 Yr 4.2%* -3.7% 11.3% 70.73%

* Annualized


Total Return Ranking - Calendar

Period LCAOX Return Category Return Low Category Return High Rank in Category (%)
2018 -16.1% -25.7% 1.6% 88.00%
2017 17.5% -5.4% 22.8% 4.76%
2016 5.1% -11.0% 276.9% 47.52%
2015 -4.6% -87.3% 1.8% 47.11%
2014 4.1% -21.4% 76.9% 26.13%

NAV & Total Return History

LCAOX - Holdings

Concentration Analysis

LCAOX Category Low Category High LCAOX % Rank
Net Assets 84.5 M 871 K 17.5 B 49.38%
Number of Holdings 22 1 1272 59.63%
Net Assets in Top 10 57.9 M 0 12.3 B 45.34%
Weighting of Top 10 68.54% 0.0% 198.3% 57.14%

Top 10 Holdings

  1. Vanguard Intmdt-Term Trs ETF 10.67%

  2. Vanguard S&P 500 ETF 10.22%

  3. Vanguard Interm-Term Corp Bd ETF 9.74%

  4. iShares 1-3 Year Treasury Bond ETF 8.97%

  5. iShares Core Dividend Growth ETF 5.42%

  6. iShares Russell Mid-Cap Value ETF 4.97%

  7. Vanguard Small-Cap Value ETF 4.92%

  8. Royce Value Trust 4.77%

  9. Franklin FTSE Japan ETF 4.67%

  10. Goldman Sachs Access Treasury 0-1 Yr ETF 4.18%


Asset Allocation

Weighting Return Low Return High LCAOX % Rank
Stocks
40.95% 0.00% 87.92% 60.25%
Bonds
31.11% -22.27% 73.84% 59.01%
Cash
27.63% -113.86% 100.00% 14.29%
Convertible Bonds
0.29% 0.00% 14.17% 33.54%
Other
0.01% -0.63% 144.69% 62.73%
Preferred Stocks
0.00% 0.00% 27.41% 73.29%

Stock Sector Breakdown

Weighting Return Low Return High LCAOX % Rank
Industrials
9.95% 0.00% 18.97% 11.88%
Technology
9.12% -0.01% 20.97% 30.00%
Financial Services
5.15% 0.00% 26.19% 60.63%
Consumer Cyclical
4.06% -0.47% 16.51% 55.63%
Healthcare
3.05% -1.31% 16.37% 61.88%
Basic Materials
2.02% -1.04% 14.80% 27.50%
Consumer Defense
1.94% 0.00% 14.18% 64.38%
Real Estate
1.93% 0.00% 32.84% 57.50%
Utilities
1.85% -0.58% 14.69% 49.38%
Energy
1.15% -1.47% 14.89% 61.25%
Communication Services
0.72% -0.68% 18.53% 63.75%

Stock Geographic Breakdown

Weighting Return Low Return High LCAOX % Rank
US
35.87% 0.00% 67.44% 45.34%
Non US
5.08% -6.80% 51.29% 65.84%

Bond Sector Breakdown

Weighting Return Low Return High LCAOX % Rank
Cash & Equivalents
27.63% -113.86% 100.00% 14.29%
Government
21.76% -60.55% 65.57% 40.37%
Corporate
9.60% 0.00% 53.88% 50.93%
Securitized
0.05% 0.00% 42.89% 62.11%
Derivative
0.00% -43.75% 3.62% 60.87%
Municipal
0.00% 0.00% 61.85% 77.02%

Bond Geographic Breakdown

Weighting Return Low Return High LCAOX % Rank
US
30.11% -82.26% 67.38% 39.13%
Non US
1.00% 0.00% 59.99% 80.75%

LCAOX - Expenses

Operational Fees

LCAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 4.22% 0.22% 5.31% 1.86%
Management Fee 1.00% 0.15% 1.50% 80.75%
12b-1 Fee 0.25% 0.00% 1.00% 49.53%
Administrative Fee 0.02% 0.02% 0.45% 1.06%

Sales Fees

LCAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

LCAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.50% 2.00% 72.34%

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.

LCAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 227.00% 9.00% 6333.00% 67.70%

LCAOX - Distributions

Dividend Yield Analysis

LCAOX Category Low Category High LCAOX % Rank
Dividend Yield 0.19% 0.00% 8.53% 64.20%

Dividend Distribution Analysis

LCAOX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Quarterly

Dividend Payout History


Net Income Ratio Analysis

LCAOX Category Low Category High LCAOX % Rank
Net Income Ratio 1.00% -1.21% 5.60% 53.42%

Capital Gain Distribution Analysis

LCAOX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

LCAOX - Managers

Stephen Marra

Manager

Start Date

Tenure

Tenure Rank

Feb 06, 2017

2.65

2.7%

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.


Jai Jacob

Manager

Start Date

Tenure

Tenure Rank

Feb 06, 2017

2.65

2.7%

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.


Thomas M. McManus

Manager

Start Date

Tenure

Tenure Rank

Feb 06, 2017

2.65

2.7%

Tom McManus specializes in macroeconomic forecasting and asset allocation. He began working in the investment field in 1980. Prior to joining Lazard in 2010, Tom was Managing Director and Chief Investment Officer of Wells Fargo Advisors. Previously, Tom was Managing Director and Chief Investment Strategist at Bank of America Securities LLC. Tom started his career at Morgan Stanley in 1980 in strategic planning and equity derivatives. From 1983 to 1991, he was a member of the Global Equity Derivatives department at Goldman Sachs. Tom has a BS in Operations Research from Columbia School of Engin


Kim Tilley

Manager

Start Date

Tenure

Tenure Rank

Feb 06, 2017

2.65

2.7%

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

0.0

Category High

17.26

Category Average

5.02

Category Mode

4.75