The Lazard Australian Equity portfolios underperformed the S&P ASX 200 Index over the quarter as a momentum fueled rally sent markets higher. For the first second quarter the Lazard Select Australian Equity Fund returned 2.1% (net of fees), the Lazard Defensive Australian Equity Fund returned 5.7% (net of fees) with the S&P ASX 200 Index returning 9.5%.
In this video update, Aaron Binsted, Portfolio Manager/Analyst on the Australian Equity team, discusses the second quarter of 2025, portfolio positioning and the opportunity in consumer discretionary.
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