LEOOX: Lazard Enhanced Opportunities Open

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LEOOX Lazard Enhanced Opportunities Open


Profile

LEOOX - Profile

Vitals

  • YTD Return 2.2%
  • 3 Yr Annualized Return -1.5%
  • 5 Yr Annualized Return -2.1%
  • Net Assets $16.3 M
  • Holdings in Top 10 25.8%

52 WEEK LOW AND HIGH

$9.01
$7.98
$9.03

Expenses

OPERATING RELATED FEES

  • Expense Ratio 13.76%

SALES FEES

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

BROKERAGE FEES

  • Turnover 354.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Nontraditional Bond

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return 1.4%
  • 5 Yr Annualized Total Return 2.1%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Lazard Enhanced Opportunities Portfolio
  • Fund Family Name
    Lazard
  • Inception Date
    Dec 31, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Frank Bianco

Fund Description

The fund seeks to achieve its investment objective over a full market cycle through a hedged strategy investing primarily in convertible fixed income and preferred securities (including those rated below investment grade ("junk")). Although its investment focus is U.S. companies, the Portfolio also may invest in non-U.S. companies, including depositary receipts and shares. The fund is non-diversified.


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Categories

Performance

LEOOX - Performance

Return Ranking - Trailing

Period LEOOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -21.5% 302.0% 21.30%
1 Yr 2.6% -24.0% 304.3% 24.53%
3 Yr -1.5%* -12.1% 58.6% 57.75%
5 Yr -2.1%* -6.7% 33.2% 82.49%
10 Yr N/A* -4.9% 14.8% N/A

* Annualized

Return Ranking - Calendar

Period LEOOX Return Category Return Low Category Return High Rank in Category (%)
2019 6.1% -7.4% 12.4% 11.04%
2018 -4.7% -9.2% 0.8% 58.65%
2017 -4.7% -12.3% 9.4% 98.40%
2016 2.9% -2.8% 10.7% 42.86%
2015 -11.1% -11.1% 4.8% 100.00%

Total Return Ranking - Trailing

Period LEOOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -21.5% 302.0% 21.30%
1 Yr 2.6% -24.0% 304.3% 24.84%
3 Yr 1.4%* -9.0% 62.5% 16.67%
5 Yr 2.1%* -4.3% 37.0% 26.73%
10 Yr N/A* -4.9% 20.0% N/A

* Annualized

Total Return Ranking - Calendar

Period LEOOX Return Category Return Low Category Return High Rank in Category (%)
2019 6.1% -7.0% 12.6% 13.71%
2018 -4.4% -9.2% 4.8% 75.56%
2017 5.9% -3.1% 15.2% 10.80%
2016 4.1% -2.8% 17.7% 45.89%
2015 -2.6% -10.1% 5.4% 52.50%

NAV & Total Return History


Holdings

LEOOX - Holdings

Concentration Analysis

LEOOX Category Low Category High LEOOX % Rank
Net Assets 16.3 M 2.88 M 32.4 B 95.13%
Number of Holdings 290 1 5115 56.96%
Net Assets in Top 10 953 K -3.43 B 10 B 82.91%
Weighting of Top 10 25.77% 11.1% 866.9% 68.48%

Top 10 Holdings

  1. Carnival Corporation 5.75% 4.57%
  2. Carnival Corp 4.37%
  3. iShares 7-10 Year Treasury Bond ETF 2.56%
  4. Wayfair Inc Class A 2.34%
  5. Herbalife Nutrition Ltd 2.62% 2.19%
  6. LIBERTY MEDIA CORP DEL 2.75% 2.01%
  7. IIP Operating Partnership LP 3.75% 2.00%
  8. Penn National Gaming, Inc. 2.75% 1.92%
  9. Snap Inc 0.25% 1.91%
  10. American Eagle Outfitter 3.75% 1.90%

Asset Allocation

Weighting Return Low Return High LEOOX % Rank
Convertible Bonds
141.94% -1.28% 141.94% 0.63%
Cash
31.65% -164.01% 2217.71% 23.42%
Preferred Stocks
0.00% 0.00% 23.00% 46.20%
Other
0.00% -15.28% 43.46% 51.90%
Bonds
-1.66% -2367.93% 258.37% 93.99%
Stocks
-71.93% -71.93% 249.29% 100.00%

Expenses

LEOOX - Expenses

Operational Fees

LEOOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 13.76% 0.01% 14.61% 1.28%
Management Fee 0.95% 0.00% 2.15% 77.81%
12b-1 Fee 0.25% 0.00% 1.00% 22.11%
Administrative Fee N/A 0.03% 0.45% 1.36%

Sales Fees

LEOOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 6.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LEOOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 2.00% 45.83%

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.

LEOOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 354.00% 2.00% 532.00% 93.66%

Distributions

LEOOX - Distributions

Dividend Yield Analysis

LEOOX Category Low Category High LEOOX % Rank
Dividend Yield 0.00% 0.00% 4.58% 20.97%

Dividend Distribution Analysis

LEOOX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

LEOOX Category Low Category High LEOOX % Rank
Net Income Ratio 1.10% -0.23% 6.94% 94.94%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

LEOOX - Fund Manager Analysis

Managers

Frank Bianco


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.67

5.7%

Frank Bianco, CFA, Director, Portfolio Manager/Analyst, is a Portfolio Manager/Analyst for all capital structure and convertibles-based strategies. He began working in the investment field in 1991. Prior to joining Lazard in 2009, Mr. Bianco was a Portfolio Manager and Head of Credit Research at Argent Funds Group LLC, where he oversaw domestic and international convertible bond, high yield and equity derivative portfolios. Prior to that, Mr. Bianco was a senior research analyst at McMahan Securities Co. L.P., covering the Biotechnology and Healthcare sectors. Previously, he was a senior research analyst in the Credit Risk Management division of the Federal Reserve Bank of New York. Frank started his career as a credit analyst at American International Group. Mr. Bianco has a BA in Economics from Ohio Wesleyan University. He is a member of the New York Society of Security Analysts (NYSSA) and holds FINRA Series 7, 86 and 87 licenses.

Sean Reynolds


Start Date

Tenure

Tenure Rank

Dec 31, 2014

5.67

5.7%

Sean H. Reynolds, Managing Director of Lazard Asset Management LLC, is a Portfolio Manager/Analyst on the Investment Manager’s capital structure and convertibles-based teams. Prior to joining Lazard in 2007, Mr. Reynolds was a portfolio manager for convertible arbitrage strategies at SAC Capital Management from April 2003 to August 2006 and, subsequent to this, senior portfolio manager at Sailfish Capital Partners' G2 Multistrategy Fund.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 25.68 5.68 1.67