Lazard International Equity Fund Awarded Five-Star Morningstar Rating™

NEW YORK--()--Lazard Asset Management LLC today announced that the Lazard International Equity Portfolio (Institutional: LZIEX; Open: LZIOX) has achieved the highest Morningstar Rating™1 of five-stars for its overall, ten-year, and five-year risk-adjusted performance. The Morningstar Rating™ is based on risk-adjusted performance out of 712 funds for the overall period, 364 funds over a ten-year period, and 624 funds over a five-year period in Morningstar’s Foreign Large Blend category as of April 30, 2016.

“We are pleased that the Lazard International Equity Portfolio has been recognized by Morningstar for its strong risk-adjusted returns,” said Charles Carroll, Deputy Chairman and Head of Global Marketing at Lazard Asset Management. “We believe achievement of a five-star rating demonstrates the expertise of our International Equity investment team and their ability to add value for our clients.”

The Lazard International Equity Portfolio seeks consistent, strong relative returns over the long term. The portfolio management team pursues this goal by adhering to a robust relative value investment process, employing bottom-up stock selection to identify companies with strong and/or improving financial productivity that trade at attractive valuations.

The Lazard International Equity Portfolio joins Lazard’s existing line-up of Lazard Funds Inc. (LFI) funds with a Morningstar Overall Rating™ of five-stars for the period ended April 30, 2016, including:

An indirect subsidiary of Lazard Ltd (NYSE:LAZ), Lazard Asset Management (LAM) offers a range of equity, fixed income, and alternative investment products worldwide. As of March 31, 2016, LAM and affiliated asset management companies in the Lazard Group managed $191 billion worth of client assets. For more information about LAM, please visit www.lazardnet.com

About Lazard
Lazard, one of the world’s preeminent financial advisory and asset management firms, operates from 42 cities across 27 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments, and individuals.

1 As of April 30, 2016. © 2016 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar not its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar Rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. Morningstar ratings are based on the Institutional Share Class.

Understanding Investment Risk

Lazard International Equity Portfolio (Institutional: LZSIX; Open: LZESX) / Lazard International Strategic Equity Portfolio (Institutional: LISIX; Open: LISOX) Equity securities will fluctuate in price; the value of your investment will thus fluctuate, and this may result in a loss. Securities in certain non-domestic countries may be less liquid, more volatile, and less subject to governmental supervision than in one’s home market. The values of these securities may be affected by changes in currency rates, application of a country’s specific tax laws, changes in government administration, and economic and monetary policy. Small-and mid-capitalization stocks may be subject to higher degrees of risk, their earnings may be less predictable, their prices more volatile, and their liquidity less than that of large-capitalization or more established companies' securities. Emerging markets securities carry special risks, such as less developed or less efficient trading markets, a lack of company information, and differing auditing and legal standards. The securities markets of emerging markets countries can be extremely volatile; performance can also be influenced by political, social, and economic factors affecting companies in emerging markets countries.

Lazard US Equity Concentrated Portfolio (Institutional: LEVIX; Open: LEVOX) The Portfolio invests in stocks believed by Lazard to be undervalued, but that may not realize their perceived value for extended periods of time or may never realize their perceived value. The stocks in which the Portfolio invests may respond differently to market and other developments than other types of stocks. Equity securities will fluctuate in price; the value of your investment will thus fluctuate, and this may result in a loss. Small- and mid-capitalization stocks may be subject to higher degrees of risk, their earnings may be less predictable, their prices more volatile, and their liquidity less than that of large-capitalization or more established companies’ securities. Because the Portfolio may invest in a smaller number of issuers than other, more diversified investment portfolios, the Portfolio’s net asset value may be more vulnerable to changes in the market value of a single issuer or group of issuers and may be relatively more susceptible to adverse effects from any single corporate, industry, economic, market, political or regulatory occurrence than if the Portfolio’s investments consisted of securities issued by a larger number of issuers.

Lazard Global Listed Infrastructure Portfolio (Institutional: GLIFX; Open: GLFOX): Securities and instruments of infrastructure companies are more susceptible to adverse economic or regulatory occurrences affecting their industries. Infrastructure companies may be subject to a variety of factors that may adversely affect their business or operations, including additional costs, competition, regulatory implications, and certain other factors. The Portfolio invests in stocks believed by Lazard to be undervalued, but that may not realize their perceived value for extended periods of time or may never realize their perceived value. The stocks in which the Portfolio invests may respond differently to market and other developments than other types of stocks. The Portfolio seeks to substantially hedge foreign currency exposure back to the US dollar. The Portfolio’s total foreign currency exposure may not be fully hedged at all times. Irrespective of any foreign currency exposure hedging, the Portfolio may experience a decline in the value of its portfolio securities, in US dollar terms, due solely to fluctuations in currency exchange rates. Derivative transactions may reduce returns or increase volatility and a small investment in certain derivatives could have a potentially large impact on each Portfolio’s performance. Because these Portfolios invest in a relatively smaller number of issuers than other investment portfolios, their net asset value could be more susceptible to adverse effects of any single corporate, economic, political, regulatory, or other occurrence.

The Lazard International Equity Instl in Morningstar’s Foreign Large Blend category received four stars for the three year rating (out of 712 funds), five stars for the five year rating (out of 624 funds), and five stars for the ten year rating (out of 364 funds).

The Lazard US Equity Concentrated Instl in Morningstar’s Large Blend category received five stars in the three year rating (out of 1374 funds), five stars in the five year rating (out of 1202 funds), and four stars in the ten year rating (out of 880 funds).

The Lazard International Strategic Eq Instl in Morningstar’s Foreign Large Blend category received four stars for the three year rating (out of 712 funds), five stars for the five year rating (out of 624 funds), and five stars for the ten year rating (out of 364 funds).

The Lazard Global Listed Infrastructure Inst in Morningstar’s Infrastructure category received five stars for the three year rating (out of 63 funds), five stars for the five year rating (out of 63 funds), and five stars for the ten year rating (out of 50 funds).

Please consider a fund’s investment objectives, risks, charges, and expenses carefully before investing. For more complete information about The Lazard Funds, Inc. and current performance, you may obtain a prospectus or summary prospectus by calling 800-823-6300 or going to www.lazardnet.com. Read the prospectus or summary prospectus carefully before you invest. The prospectus and summary prospectus contain investment objectives, risks, charges, expenses, and other information about the Portfolio and The Lazard Funds that may not be detailed in this document. The Lazard Funds are distributed by Lazard Asset Management Securities LLC.

Contacts

Lazard Ltd
Media:
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
or
Clare Pickett, +1-212-632-6963
clare.pickett@lazard.com

Contacts

Lazard Ltd
Media:
Judi Mackey, +1-212-632-1428
judi.mackey@lazard.com
or
Clare Pickett, +1-212-632-6963
clare.pickett@lazard.com