Lazard Asset Management Launches Emerging Markets Debt Total Return Fund

Lazard Asset Management Launches Emerging Markets Debt Total Return Fund

NEW YORK--(BUSINESS WIRE)-- Lazard Asset Management LLC (LAM) today announced the launch of the Lazard Explorer Total Return Portfolio (the "Portfolio") (NYSE: Institutional: LETIX, Open: LETOX).

The Portfolio utilizes a flexible total return investment strategy, seeking to provide clients with strong risk-adjusted returns over a full market cycle. The portfolio management team considers the entire universe of emerging markets debt asset classes, including external and local sovereign, quasi-sovereign, corporate and inflation-linked debt, when allocating where they believe there is value, based on their global macroeconomic outlook and fundamental sovereign analysis.

The Portfolio is managed by Denise Simon and Arif Joshi, Managing Directors and the Portfolio Managers on Lazard's Emerging Markets Debt team. Denise and Arif are seasoned investors each with over 15 years of experience in managing emerging markets debt portfolios through a full range of economic cycles.

"The Portfolio takes an unconstrained approach to emerging markets debt investing, looking for the best risk-adjusted returns across the asset class," said Denise Simon, Portfolio Manager. "It utilizes a total return strategy, designed to offer investors the potential to capture alpha opportunities while maintaining lower volatility than the market."

"Despite the uncertainty of today's markets, we believe there are compelling valuation opportunities across the asset class. The Portfolio's approach offers the flexibility needed to take advantage of them," added Arif Joshi, Portfolio Manager.

The Emerging Markets Debt team complements the strength of Lazard's emerging markets platform, drawing on the expertise of over 50 investment professionals dedicated to emerging markets. As of March 31, 2013, the firm manages over $50 billion in emerging markets equity and debt assets globally.

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 40 cities across 26 countries in North America, Europe, Asia, Australia, Central and South America. With origins dating back 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. As of March 31, 2013 LAM and affiliated asset management companies managed US$172 billion worth of client assets. For more information on Lazard, please visit

Information and opinions presented have been obtained or derived from sources believed by Lazard to be reliable. Lazard makes no representation as to their accuracy or completeness. All opinions expressed herein are as of the date of this presentation and are subject to change.

An investment in fixed-income securities involves risks, including but not limited to, interest rate risk and credit risk. The value of your investment in the Portfolio will fluctuate, which means you could lose money. Non-domestic securities carry special risks, such as exposure to less developed or less efficient trading markets, political instability, a lack of company information, differing auditing and legal standards, and, potentially, less liquidity. In addition, investments denominated in currencies other than the U.S. dollar carry the risk that such currencies will decline in value relative to the U.S. dollar and affect the value of these investments held in the Portfolio.

The securities markets of emerging market countries can be extremely volatile. The Portfolio's performance will be influenced by political, social, and economic factors affecting emerging market countries and companies in emerging market countries. Emerging market countries can generally have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries.

Derivatives transactions, including those entered into for hedging purposes, may reduce returns or increase volatility. Derivatives can also be illiquid and highly sensitive to changes in the related currency, security or securities. As such, a small investment in certain derivatives could have a potentially large impact on the Portfolio's performance.

Please consider a fund's investment objectives, risks, charges, and expenses carefully before investing. For more complete information about The Lazard Funds, Inc. (the "Lazard Funds") and current performance, you may obtain a prospectus or summary prospectus by calling 800-823-6300 or going Read the prospectus or summary prospectus carefully before you invest. The prospectus and/or 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. Lazard Asset Management LLC serves as the investment manager of the Lazard Funds.


Judi Mackey, +1 212 632 1428
Clare Pickett, +1 212 632 6963

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