• Lazard International Equity Concentrated Portfolio

Lazard
INT, Large-Cap Core

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Lazard International Equity Concentrated Portfolio

LCNIX

Summary

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on securities of non-US companies.

The team considers companies generating sustainably high or improving returns and that are trading at attractive valuations.

In addition, the team favors established companies in economically developed countries that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The concentrated portfolio typically holds 20 to 30 securities of non-US companies, including those whose principal business activities are located in emerging market countries.

The manager also may invest the fund’s net assets in securities of companies domiciled in emerging market countries.

Strategy Process Research Risk Philosophy

Price

Last Close

$10.73 ( +0.07 )

52 Week HL

$10.84 - $8.43

Net Assets

Expense Ratio

1.21 %

Sector Allocation

Mar 31, 2021

Top 10 Holdings

Mar 31, 2021

Company Name

  • Arca Continental
  • Samsung
  • Samsung
  • Samsung
  • Tencent

Holding

  • 5.93
  • 5.67
  • 5.48
  • 5.30
  • 5.23

Company Name

  • Tencent
  • Toromont
  • Volkswagen
  • RELX
  • Digital Garage
  • Total

Holding

  • 4.82
  • 4.41
  • 4.40
  • 4.02
  • 4.00
  • 49.26%

Manager

Name

Kevin J. Matthews

Leadership

Single Manager

Tenure

2003

Advisor

Documents

Prospectus

Summary

Fact Sheet

Q2 2021

Annual Reports

Website

Link

Performance

YTD

6.9 %

3 Year

11.95%

5 Year

28.6%

Best

23.3%
2017

Worst

-16.26%
2018

Returns +
Quarterly

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
Q1 1.7% -28.2% 13% -1.1% 7.9% 4.8% 0.9% - - - -
Q2 4% 13.9% 3.6% -1.1% 4.7% 1.2% 1.3% -100% - - -
Q3 1% 7% -1.7% 1.9% 3.8% 4.4% -15.4% -3.7% - - -
Q4 - 11% 6% -13.7% 4.9% -5.4% 1.7% -0.9% - - -

Returns +
Monthly

J F M A M J J A S O N D
2021 -2.6% 0.8% 3.6% 2.6% 1.8% -0.4% -0.8% 1.8% - - - -
2020 -2% -7.6% -20.6% 6.8% 3.5% 3.1% 5.5% 3.2% -1.6% -3.4% 11.5% 3.1%

Returns +
Annual

    2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
    0%16%29%-6%19%8%-1%14%29%13%0%

Alpha

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011
LCNIX 7%-3%--16%23%5%-12%----
S&P 500 -16%29%-6%19%8%-1%14%29%13%-
Alpha 7%-18%--10%4%-4%-12%----

LCNIX S&P 500

Chart +