Lazard Emerging Markets Equity Portfolio Open Shares

Overview

The Lazard Emerging Markets Equity Portfolio Open Shares is a mutual fund that seeks long-term capital appreciation by investing in well-run, profitable companies in emerging markets. The fund primarily focuses on equities, targeting growth and late-stage investments across various industries, including technology, financial services, and consumer discretionary sectors. Its geographical focus spans countries such as China, Taiwan, South Korea, Brazil, Mexico, South Africa, India, the United States, Indonesia, and Hong Kong. The fund employs a strategy of identifying companies that appear mispriced relative to their fundamentals, often due to misunderstood business models or near-term political and economic concerns. As of September 30, 2025, the portfolio held 84 companies, with a weighted average market capitalization of $104.2 billion. The top holdings included Taiwan Semiconductor Manufacturing Company Limited, SK hynix Inc., and China Construction Bank Corporation. The fund has demonstrated a strong track record, achieving a 5-star Morningstar rating for both 3-year and 5-year periods as of June 30, 2025. It has also outperformed its benchmark, the MSCI Emerging Markets Index, over various time frames. The fund's expense ratio is 1.32%, with a portfolio turnover rate of 20% as of September 30, 2025. These factors contribute to its reputation as a leading choice for investors seeking exposure to emerging market equities.

Investment Focus

• Minimum initial investment: $2,500
• Minimum subsequent investment: $50

Portfolio Companies