Lazard Global Fixed Income Institutional
Name
As of 07/28/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.9%
1 yr return
-3.2%
3 Yr Avg Return
-10.3%
5 Yr Avg Return
-4.5%
Net Assets
$6.38 M
Holdings in Top 10
21.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.34%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 59.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 07/28/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
LZGIX - Profile
Distributions
- YTD Total Return 0.9%
- 3 Yr Annualized Total Return -10.3%
- 5 Yr Annualized Total Return -4.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.38%
- Dividend Yield 2.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameLazard Global Fixed Income Portfolio
-
Fund Family NameLazard
-
Inception DateMar 30, 2012
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerYvette Klevan
Fund Description
Under normal circumstances, the Portfolio invests at least 80% of its assets in Fixed Income Investments. “Fixed Income Investments” include all types of debt and income producing securities and other instruments, including bonds, notes (including structured notes), mortgage-related securities, asset-backed securities, Eurodollar and Yankee dollar instruments, money market instruments and foreign currency forward contracts, including non-deliverable forward contracts. Fixed Income Investments may be issued by US or foreign corporations or entities, including those with business activities located in emerging market countries; US or foreign banks; the US government, its agencies, authorities, instrumentalities or sponsored enterprises; US state and municipal governments; foreign governments and their political subdivisions; and supranational organizations (such as the World Bank).
In managing the Portfolio’s assets, the Investment Manager employs a relative value approach that is driven by its macroeconomic view of global interest rates, yield curves, sector spreads, and currencies, combined with an opportunistic, but disciplined, security selection process. The Investment Manager seeks to enhance the Portfolio’s total return by rotating investments through global bond and credit markets, maintaining or seeking exposure to foreign currencies in the discretion of the Investment Manager. The Investment Manager seeks to identify and exploit market inefficiencies (such as spread relationships between sectors in different countries, and undervalued or overlooked markets and securities) in seeking to achieve attractive risk-adjusted returns. The Investment Manager also seeks to identify investment opportunities with asymmetric risk/reward characteristics in seeking to enhance portfolio performance and mitigate risk.
The Portfolio’s currency exposure generally is managed relative to that of the Bloomberg Barclays Global Aggregate® Index—Unhedged in US dollar terms, and tactical exposures to non-US dollar currencies are based on the Investment Manager’s fundamental macroeconomic outlook, technical factors and the Investment Manager’s desired market positioning.
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. The Investment Manager allocates the Portfolio’s assets among various regions, countries and currencies, including the United States and the US dollar (but in no less than three different countries or currencies). The Portfolio may invest in securities of issuers with business activities located in emerging market countries or denominated in an emerging market currency.
The Portfolio may invest up to 15% of its assets in securities that are 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 the unrated equivalent as determined by the Investment Manager. There are no restrictions on the Portfolio’s average portfolio maturity or duration or on the maturities of the individual debt and income producing securities and other instruments in which it may invest. 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, but is not required to, use derivative instruments that are part of its primary investment strategy, such as forward currency contracts, for hedging purposes.
LZGIX - Performance
Return Ranking - Trailing
Period | LZGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -59.5% | 0.9% | 83.50% |
1 Yr | -3.2% | -15.5% | 19.7% | 95.67% |
3 Yr | -10.3%* | -4.3% | 4.2% | 83.08% |
5 Yr | -4.5%* | -2.5% | 4.1% | 74.47% |
10 Yr | -3.1%* | -3.0% | 2.7% | 81.14% |
* Annualized
Return Ranking - Calendar
Period | LZGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -19.1% | -15.2% | 0.9% | 95.50% |
2022 | -6.0% | -10.9% | 12.2% | 50.52% |
2021 | 1.9% | -10.8% | 14.8% | 44.79% |
2020 | 1.2% | -15.3% | 0.6% | 39.31% |
2019 | -0.9% | -44.4% | 14.4% | 50.31% |
Total Return Ranking - Trailing
Period | LZGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -59.5% | 0.9% | 81.55% |
1 Yr | -3.2% | -16.6% | 30.5% | 88.63% |
3 Yr | -10.3%* | -5.2% | 10.9% | 79.23% |
5 Yr | -4.5%* | -2.8% | 7.4% | 72.68% |
10 Yr | -3.1%* | -3.0% | 3.6% | 81.77% |
* Annualized
Total Return Ranking - Calendar
Period | LZGIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -19.1% | -15.2% | 0.9% | 95.50% |
2022 | -6.0% | -10.9% | 12.2% | 50.52% |
2021 | 1.9% | -10.8% | 14.8% | 45.31% |
2020 | 1.2% | -15.3% | 3.8% | 51.45% |
2019 | -0.9% | -44.4% | 14.4% | 58.90% |
NAV & Total Return History
LZGIX - Holdings
Concentration Analysis
LZGIX | Category Low | Category High | LZGIX % Rank | |
---|---|---|---|---|
Net Assets | 6.38 M | 74.5 K | 14.7 B | 99.02% |
Number of Holdings | 95 | 4 | 4562 | 86.73% |
Net Assets in Top 10 | 1.48 M | -112 M | 3.66 B | 87.68% |
Weighting of Top 10 | 21.07% | 4.7% | 100.0% | 74.52% |
Top 10 Holdings
- United States Treasury Notes 1.75% 3.63%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
- Czech (Republic of) 2% 3.12%
Asset Allocation
Weighting | Return Low | Return High | LZGIX % Rank | |
---|---|---|---|---|
Bonds | 96.83% | 0.00% | 220.33% | 20.85% |
Convertible Bonds | 3.19% | 0.00% | 11.19% | 18.48% |
Stocks | 0.00% | 0.00% | 7.47% | 69.67% |
Preferred Stocks | 0.00% | 0.00% | 2.87% | 58.77% |
Other | 0.00% | -9.71% | 100.00% | 54.98% |
Cash | -0.02% | -130.07% | 95.62% | 89.10% |
Bond Sector Breakdown
Weighting | Return Low | Return High | LZGIX % Rank | |
---|---|---|---|---|
Government | 59.79% | 0.30% | 99.47% | 33.17% |
Corporate | 38.67% | 0.00% | 98.62% | 14.90% |
Municipal | 1.33% | 0.00% | 7.95% | 2.40% |
Cash & Equivalents | 0.22% | 0.00% | 95.62% | 98.08% |
Derivative | 0.00% | 0.00% | 74.77% | 75.96% |
Securitized | 0.00% | 0.00% | 52.02% | 91.83% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | LZGIX % Rank | |
---|---|---|---|---|
Non US | 63.55% | 0.00% | 112.80% | 43.13% |
US | 33.28% | -5.52% | 107.53% | 41.71% |
LZGIX - Expenses
Operational Fees
LZGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.34% | 0.02% | 3.65% | 59.33% |
Management Fee | 0.50% | 0.00% | 2.08% | 41.46% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.45% | 6.02% |
Sales Fees
LZGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.00% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
LZGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | 81.05% |
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.
LZGIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 59.00% | 6.00% | 354.00% | 35.50% |
LZGIX - Distributions
Dividend Yield Analysis
LZGIX | Category Low | Category High | LZGIX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.72% | 0.00% | 17.40% | 62.56% |
Dividend Distribution Analysis
LZGIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
LZGIX | Category Low | Category High | LZGIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.38% | -1.08% | 5.77% | 60.29% |
Capital Gain Distribution Analysis
LZGIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 30, 2022 | $0.013 | DailyAccrualFund |
Oct 31, 2022 | $0.013 | DailyAccrualFund |
Sep 30, 2022 | $0.013 | DailyAccrualFund |
Aug 25, 2022 | $0.010 | DailyAccrualFund |
Jul 29, 2022 | $0.013 | DailyAccrualFund |
Jun 30, 2022 | $0.012 | DailyAccrualFund |
May 31, 2022 | $0.012 | DailyAccrualFund |
Apr 29, 2022 | $0.013 | DailyAccrualFund |
Mar 31, 2022 | $0.011 | DailyAccrualFund |
Feb 28, 2022 | $0.011 | DailyAccrualFund |
Jan 31, 2022 | $0.010 | DailyAccrualFund |
Dec 31, 2021 | $0.010 | DailyAccrualFund |
Nov 30, 2021 | $0.011 | DailyAccrualFund |
Oct 29, 2021 | $0.011 | DailyAccrualFund |
Sep 30, 2021 | $0.011 | DailyAccrualFund |
Aug 31, 2021 | $0.011 | DailyAccrualFund |
Aug 17, 2021 | $0.009 | DailyAccrualFund |
Jun 30, 2021 | $0.011 | DailyAccrualFund |
May 28, 2021 | $0.010 | DailyAccrualFund |
Apr 30, 2021 | $0.010 | DailyAccrualFund |
Mar 31, 2021 | $0.011 | DailyAccrualFund |
Feb 26, 2021 | $0.011 | DailyAccrualFund |
Jan 29, 2021 | $0.010 | DailyAccrualFund |
Dec 31, 2020 | $0.010 | DailyAccrualFund |
Nov 30, 2020 | $0.011 | DailyAccrualFund |
Oct 30, 2020 | $0.011 | DailyAccrualFund |
Sep 30, 2020 | $0.011 | DailyAccrualFund |
Aug 31, 2020 | $0.011 | DailyAccrualFund |
Jul 31, 2020 | $0.011 | DailyAccrualFund |
Jun 30, 2020 | $0.011 | DailyAccrualFund |
May 29, 2020 | $0.012 | DailyAccrualFund |
Apr 30, 2020 | $0.012 | DailyAccrualFund |
Mar 31, 2020 | $0.014 | DailyAccrualFund |
Feb 28, 2020 | $0.015 | DailyAccrualFund |
Jan 31, 2020 | $0.015 | DailyAccrualFund |
Dec 31, 2019 | $0.004 | DailyAccrualFund |
Nov 29, 2019 | $0.004 | DailyAccrualFund |
Oct 31, 2019 | $0.004 | DailyAccrualFund |
Sep 30, 2019 | $0.004 | DailyAccrualFund |
Aug 30, 2019 | $0.004 | DailyAccrualFund |
Jul 31, 2019 | $0.005 | DailyAccrualFund |
Jun 28, 2019 | $0.017 | DailyAccrualFund |
May 31, 2019 | $0.017 | DailyAccrualFund |
Apr 30, 2019 | $0.017 | DailyAccrualFund |
Mar 29, 2019 | $0.017 | DailyAccrualFund |
Feb 28, 2019 | $0.016 | DailyAccrualFund |
Jan 31, 2019 | $0.016 | DailyAccrualFund |
Dec 31, 2018 | $0.017 | DailyAccrualFund |
Nov 30, 2018 | $0.016 | DailyAccrualFund |
Oct 31, 2018 | $0.017 | DailyAccrualFund |
Aug 31, 2018 | $0.017 | DailyAccrualFund |
Jul 31, 2018 | $0.019 | DailyAccrualFund |
Jun 29, 2018 | $0.017 | DailyAccrualFund |
May 31, 2018 | $0.017 | DailyAccrualFund |
Apr 30, 2018 | $0.017 | DailyAccrualFund |
Mar 29, 2018 | $0.017 | DailyAccrualFund |
Feb 28, 2018 | $0.016 | DailyAccrualFund |
Jan 31, 2018 | $0.017 | DailyAccrualFund |
Dec 29, 2017 | $0.016 | DailyAccrualFund |
Nov 30, 2017 | $0.017 | DailyAccrualFund |
Oct 31, 2017 | $0.017 | DailyAccrualFund |
Sep 29, 2017 | $0.017 | DailyAccrualFund |
Aug 31, 2017 | $0.018 | DailyAccrualFund |
Jul 31, 2017 | $0.016 | DailyAccrualFund |
Jun 30, 2017 | $0.016 | DailyAccrualFund |
May 31, 2017 | $0.016 | DailyAccrualFund |
Apr 28, 2017 | $0.015 | DailyAccrualFund |
Mar 31, 2017 | $0.022 | DailyAccrualFund |
Feb 28, 2017 | $0.015 | DailyAccrualFund |
Jan 31, 2017 | $0.015 | DailyAccrualFund |
Dec 30, 2016 | $0.017 | DailyAccrualFund |
Nov 30, 2016 | $0.017 | DailyAccrualFund |
Oct 31, 2016 | $0.017 | DailyAccrualFund |
Sep 30, 2016 | $0.017 | DailyAccrualFund |
Aug 31, 2016 | $0.017 | DailyAccrualFund |
Jul 29, 2016 | $0.016 | DailyAccrualFund |
Jun 30, 2016 | $0.016 | DailyAccrualFund |
May 31, 2016 | $0.016 | DailyAccrualFund |
Apr 29, 2016 | $0.016 | DailyAccrualFund |
Mar 31, 2016 | $0.018 | DailyAccrualFund |
Feb 29, 2016 | $0.015 | DailyAccrualFund |
Jan 29, 2016 | $0.016 | DailyAccrualFund |
Dec 31, 2015 | $0.016 | DailyAccrualFund |
Nov 30, 2015 | $0.015 | DailyAccrualFund |
Oct 30, 2015 | $0.017 | DailyAccrualFund |
Sep 30, 2015 | $0.015 | DailyAccrualFund |
Aug 31, 2015 | $0.015 | DailyAccrualFund |
Jul 31, 2015 | $0.015 | DailyAccrualFund |
Jun 30, 2015 | $0.016 | DailyAccrualFund |
May 29, 2015 | $0.017 | DailyAccrualFund |
Apr 30, 2015 | $0.016 | DailyAccrualFund |
Mar 31, 2015 | $0.018 | DailyAccrualFund |
Feb 27, 2015 | $0.015 | DailyAccrualFund |
Jan 30, 2015 | $0.015 | DailyAccrualFund |
Dec 31, 2014 | $0.016 | DailyAccrualFund |
Nov 28, 2014 | $0.016 | DailyAccrualFund |
Oct 31, 2014 | $0.016 | DailyAccrualFund |
Sep 30, 2014 | $0.017 | DailyAccrualFund |
Aug 29, 2014 | $0.019 | DailyAccrualFund |
Jul 31, 2014 | $0.020 | DailyAccrualFund |
Jun 30, 2014 | $0.020 | DailyAccrualFund |
May 30, 2014 | $0.019 | DailyAccrualFund |
Apr 30, 2014 | $0.019 | DailyAccrualFund |
Mar 31, 2014 | $0.022 | DailyAccrualFund |
Feb 28, 2014 | $0.019 | DailyAccrualFund |
Jan 31, 2014 | $0.020 | DailyAccrualFund |
Dec 31, 2013 | $0.019 | DailyAccrualFund |
Nov 29, 2013 | $0.018 | DailyAccrualFund |
Oct 31, 2013 | $0.020 | DailyAccrualFund |
Sep 30, 2013 | $0.019 | DailyAccrualFund |
Aug 30, 2013 | $0.019 | DailyAccrualFund |
Jul 31, 2013 | $0.018 | DailyAccrualFund |
Jun 28, 2013 | $0.018 | DailyAccrualFund |
May 31, 2013 | $0.019 | DailyAccrualFund |
Apr 30, 2013 | $0.019 | DailyAccrualFund |
Mar 28, 2013 | $0.021 | DailyAccrualFund |
Feb 28, 2013 | $0.020 | DailyAccrualFund |
Jan 31, 2013 | $0.022 | DailyAccrualFund |
Dec 31, 2012 | $0.022 | DailyAccrualFund |
Nov 30, 2012 | $0.021 | DailyAccrualFund |
Oct 31, 2012 | $0.021 | DailyAccrualFund |
Sep 28, 2012 | $0.018 | DailyAccrualFund |
Aug 31, 2012 | $0.019 | DailyAccrualFund |
Jul 31, 2012 | $0.020 | DailyAccrualFund |
Jun 29, 2012 | $0.019 | DailyAccrualFund |
May 31, 2012 | $0.018 | DailyAccrualFund |
Apr 30, 2012 | $0.011 | DailyAccrualFund |
LZGIX - Fund Manager Analysis
Managers
Yvette Klevan
Start Date
Tenure
Tenure Rank
Mar 30, 2012
10.18
10.2%
Yvette Klevan, a Managing Director of Lazard, is a portfolio manager/analyst on the Lazard’s Global Fixed Income team. She began working in Lazard in 1982. Prior to joining Lazard in 2002, Ms. Klevan was a Senior Portfolio Manager at Offitbank and previously worked at Bank of America, Chase Manhattan Bank and Aramco Services Company. Yvette has an MBA in Finance and Management Information Systems from the University of Houston and a BBA in Mechanical Engineering Route to Business from the University of Texas.
Jared Daniels
Start Date
Tenure
Tenure Rank
Mar 30, 2012
10.18
10.2%
Jared Daniels, a Managing Director of the Investment Manager, is a portfolio manager/analyst on the Global Fixed Income team. He began working in the investment field in 1997. Prior to joining the Investment Manager in 1998, Mr. Daniels was with CIBC Oppenheimer Corporation. He is a CFA Charterholder. He has a BS in Public Financial Management with a minor in Economics from Indiana University. Jared is a member of the New York Society of Security Analysts (NYSSA).
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.02 | 28.31 | 6.8 | 3.67 |