LCNIX : Lazard International Equity Concentrated Portfolio Institutional Shares

Fund Summary

The investment seeks long-term capital appreciation. The fund invests primarily in equity securities, principally common stocks, of non-U.S. companies. It has a concentrated portfolio of investments, typically investing in 20 to 30 securities of non-U.S. companies. The fund invests at least 80% of its assets in equity securities. In choosing stocks for the fund, the Investment Manager generally looks for established companies in economically developed countries that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. It is non-diversified.