Sub-Strategy
As of Date:
As of Date:
Summary
The Lazard Global Equity Franchise strategy is an actively managed portfolio that seeks long-term, defensive returns by investing globally in a range of franchise companies. The strategy targets returns in excess of the MSCI World Index, with lower risk over the long term. The strategy invests in listed companies which we consider have an "economic franchise", meaning companies which possess a combination of predictable earnings and large competitive advantages. The number of securities will generally range from 25 to 50.
Primary Benchmark
MSCI World Index
Fund Assets Under Management*
Strategy Assets Under Management*
US$ 3.3 billion
Distribution Date
Inception
01-Oct-2013
Minimum Investment
Ticker
CUSIP
ISIN
APIR
Maximum Initial Charge
SEDOL
Valoren
Annual Management Charge (%)
SFDR Category
ETF Exchange
IOPV Ticker
30 Day SEC Yield*
Unsubsidized 30 day SEC Yield*
Fund Net Assets**
Shares Outstanding
Gross Expense Ratio
Net Expense Ratio
Type | Lazard |
---|---|
Alpha (trailing 3 years) | -1.88 |
Beta (%, trailing 3 years) | 0.93 |
Tracking Error (trailing 3 years) | 8.73 |
R-squared (%, trailing 3 years) | 0.76 |
Standard Deviation (%, trailing 3 years) | 17.58 |
Sharpe Ratio (trailing 3 years) | 0.02 |
31-Mar-2025 All values in USD unless otherwise specified Performance Inception: 01-Oct-2013
Performance for periods shorter than one year has not been annualized.
Performance is presented on both a gross of all fees and net of fees basis. The performance quoted represents past performance. Past performance is not a reliable indicator of future results. Additional information on the fees and expenses applied to obtain net performance returns can be accessed by referencing the GIPS compositeopens in a new tab.
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Distribution Dividend-
dividend-
Sector
|
Lazard (%)
|
MSCI World
|
Overweight/ Underweight (%)
|
---|---|---|---|
Utilities | 21.65 | 2.69 | 18.96 |
Financials | 15.79 | 17.34 | -1.55 |
Health Care | 15.11 | 11.12 | 3.99 |
Industrials | 14.76 | 11.06 | 3.70 |
Consumer Discretionary | 12.81 | 10.18 | 2.63 |
Communication Services | 9.13 | 7.91 | 1.22 |
Information Technology | 3.92 | 23.56 | -19.64 |
Materials | 1.85 | 3.36 | -1.51 |
Consumer Staples | 0.00 | 6.47 | -6.47 |
Energy | 0.00 | 4.12 | -4.12 |
Real Estate | 0.00 | 2.18 | -2.18 |
Cash | 4.97 | 0.00 | 4.97 |
Geographic
|
Lazard (%)
|
MSCI World
|
Overweight/ Underweight (%)
|
---|---|---|---|
United States | 35.61 | 71.99 | -36.38 |
United Kingdom | 20.29 | 3.78 | 16.51 |
Italy | 18.96 | 0.77 | 18.19 |
France | 6.98 | 2.88 | 4.10 |
Cash | 4.97 | 0.00 | 4.97 |
Spain | 4.01 | 0.78 | 3.23 |
Japan | 3.87 | 5.41 | -1.54 |
Germany | 2.96 | 2.50 | 0.46 |
Israel | 1.36 | 0.23 | 1.13 |
Switzerland | 0.99 | 2.49 | -1.50 |
Hong Kong | 0.00 | 0.49 | -0.49 |
Portugal | 0.00 | 0.04 | -0.04 |
Austria | 0.00 | 0.05 | -0.05 |
Norway | 0.00 | 0.16 | -0.16 |
Ireland | 0.00 | 0.08 | -0.08 |
Belgium | 0.00 | 0.24 | -0.24 |
Australia | 0.00 | 1.65 | -1.65 |
Canada | 0.00 | 3.10 | -3.10 |
Denmark | 0.00 | 0.60 | -0.60 |
Finland | 0.00 | 0.26 | -0.26 |
Netherlands | 0.00 | 1.10 | -1.10 |
New Zealand | 0.00 | 0.05 | -0.05 |
Singapore | 0.00 | 0.43 | -0.43 |
Sweden | 0.00 | 0.92 | -0.92 |
Market Cap
|
Lazard (%)
|
MSCI World
|
Overweight/ Underweight (%)
|
---|---|---|---|
Over 200 Bil | 3.86 | 41.53 | -37.67 |
40 - 200 Bil | 8.13 | 38.71 | -30.58 |
10 - 40 Bil | 37.46 | 17.71 | 19.75 |
3 - 10 Bil | 38.03 | 2.05 | 35.98 |
1.2 - 3 Bil | 7.56 | 0.00 | 7.56 |
Cash | 4.97 | 0.00 | 4.97 |
Sector
|
Lazard (%)
|
-
|
Overweight/ Underweight (%)
|
---|---|---|---|
Utilities | 21.65 | - | - |
Financials | 15.79 | - | - |
Health Care | 15.11 | - | - |
Industrials | 14.76 | - | - |
Consumer Discretionary | 12.81 | - | - |
Communication Services | 9.13 | - | - |
Information Technology | 3.92 | - | - |
Materials | 1.85 | - | - |
Consumer Staples | 0.00 | - | - |
Energy | 0.00 | - | - |
Real Estate | 0.00 | - | - |
Cash | 4.97 | - | - |
Geographic
|
Lazard (%)
|
-
|
Overweight/ Underweight (%)
|
---|---|---|---|
United States | 35.61 | - | - |
United Kingdom | 20.29 | - | - |
Italy | 18.96 | - | - |
France | 6.98 | - | - |
Cash | 4.97 | - | - |
Spain | 4.01 | - | - |
Japan | 3.87 | - | - |
Germany | 2.96 | - | - |
Israel | 1.36 | - | - |
Switzerland | 0.99 | - | - |
Hong Kong | 0.00 | - | - |
Portugal | 0.00 | - | - |
Austria | 0.00 | - | - |
Norway | 0.00 | - | - |
Ireland | 0.00 | - | - |
Belgium | 0.00 | - | - |
Australia | 0.00 | - | - |
Canada | 0.00 | - | - |
Denmark | 0.00 | - | - |
Finland | 0.00 | - | - |
Netherlands | 0.00 | - | - |
New Zealand | 0.00 | - | - |
Singapore | 0.00 | - | - |
Sweden | 0.00 | - | - |
Market Cap
|
Lazard (%)
|
-
|
Overweight/ Underweight (%)
|
---|---|---|---|
Over 200 Bil | 3.86 | - | - |
40 - 200 Bil | 8.13 | - | - |
10 - 40 Bil | 37.46 | - | - |
3 - 10 Bil | 38.03 | - | - |
1.2 - 3 Bil | 7.56 | - | - |
Cash | 4.97 | - | - |
31-Mar-2025 All values in USD unless otherwise specified
Characteristics
|
Lazard
|
MSCI World
|
|
---|---|---|---|
Market Capitalization (B, weighted avg.) | 45.64 | 649.95 | - |
Price/Earnings | 20.04 | 21.48 | - |
Price/Earnings (forward 12 months) | 13.15 | 18.80 | - |
Return on Equity (%) | 10.34 | 15.74 | - |
Return on Equity (%, forward 12 months) | 14.88 | 16.16 | - |
Price/Book | 2.07 | 3.38 | - |
Price/Cash Flow | 8.98 | 14.92 | - |
Free Cash Flow Yield (%) | 6.23 | 4.05 | - |
Net Debt to Capital | 55.37 | 39.90 | - |
EPS Growth (%, forward 12 months) | 93.63 | 18.01 | - |
EPS Growth (%, trailing 3 years) | -17.64 | 4.55 | - |
31-Mar-2025 All values in USD unless otherwise specified
Investment characteristics are based upon a portfolio that represents the proposed investment for a fully discretionary account.
Unless otherwise noted, characteristics are trailing 12 months.
Top Holdings
|
Lazard (%)
|
Sector
|
---|---|---|
H&R Block | 6.20 | Consumer Discretionary |
Omnicom | 6.03 | Communication Services |
Nexi | 5.93 | Financials |
Rentokil Initial | 5.90 | Industrials |
IGT | 5.78 | Consumer Discretionary |
Snam | 5.19 | Utilities |
National Grid | 5.17 | Utilities |
Severn Trent | 4.62 | Utilities |
United Utilities | 4.60 | Utilities |
Dentsply Sirona | 4.46 | Health Care |
31-Mar-2025