Human expertise remains irreplaceable, regardless of how automated investing becomes. By integrating quantitative methods with fundamental research, our teams seek to build strategies that are both resilient and responsive to changing market dynamics, helping generate alpha for investors.
Since 1997, we have simplified and optimized our systematic stock selection process. Historically, this has delivered consistent execution across investment models. We scour and evaluate a wide universe of stocks using a proprietary multi-factor approach that combines four financial metrics—Value, Growth, Quality, and Sentiment—seeking to identify attractive investment opportunities and mitigate macro risks relative to the benchmark.
There is no black box at Lazard Asset Management – our team has the freedom and flexibility to do what they do best, which has historically led to strong performance. Through a core, bottom-up stock selection approach, complemented by ongoing quantitative research efforts, our Advantage team has delivered superior investment results across diverse market environments.
Focus On Bottom-Up Stock Selection Seeks To Produce More Consistent Excess Returns
Investor style preferences can be unpredictable and volatile. Lazard’s core approach is designed to integrate these varying styles, aiming to deliver more consistent excess returns over time.
As of 31 December 2024
1 MSCI Emerging Markets Value Index
2 MSCI Emerging Markets Growth Index
For illustrative purposes only. The information is not representative of any product or strategy managed by Lazard. The indices are unmanaged have no fees. One cannot invest directly in an index.
Performance is based on rolling 24-month difference in price index returns.
The performance quoted represents past performance. Past performance is not a reliable indicator of future results.
Source: Lazard, MSCI
MSCI Emerging Markets Index
MSCI World Index
MSCI All Country Asia ex-Japan Index
MSCI Europe Index
MSCI Emerging Markets Index
MSCI Emerging Markets Index
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Important Information
As of 13 March 2025
A quantitative investment strategy relies on quantitative models and quantitative filters, which, if incorrect, may adversely affect performance.
No risk management technique or process can guarantee return or eliminate risk in any market environment.
Equity securities will fluctuate in price; the value of your investment will thus fluctuate, and this may result in a loss.
Certain information included herein is derived by Lazard in part from an MSCI index or indices (the “Index Data”). However, MSCI has not reviewed this product or report, and does not endorse or express any opinion regarding this product or report or any analysis or other information contained herein or the author or source of any such information or analysis. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any Index Data or data derived therefrom.
Certain information contained herein constitutes “forward-looking statements” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “target,” “intent,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events may differ materially from those reflected or contemplated in such forward-looking statements.
This document reflects the views of Lazard Asset Management LLC, Lazard Frères Gestion or its affiliates ("Lazard") based upon information believed to be reliable as of the publication date. There is no guarantee that any forecast or opinion will be realized. This document is provided by Lazard for informational purposes only. Nothing herein constitutes investment advice or a recommendation relating to any security, commodity, derivative, investment management service, or investment product. Investments in securities, derivatives, and commodities involve risk, will fluctuate in price, and may result in losses. Certain assets held in Lazard’s investment portfolios, in particular alternative investment portfolios, can involve high degrees of risk and volatility when compared to other assets. Similarly, certain assets held in Lazard’s investment portfolios may trade in less liquid or efficient markets, which can affect investment performance. Past performance does not guarantee future results. The views expressed herein are subject to change, and may differ from the views of other Lazard investment professionals.
This document is intended only for persons residing in jurisdictions where its distribution or availability is consistent with local laws and Lazard’s local regulatory authorizations. Please visit www.lazardassetmanagement.com/global-disclosure for the specific Lazard entities that have issued this document and the scope of their authorized activities.