In the second quarter of 2025, the Lazard Global Equity Franchise strategy rose in absolute terms but underperformed the MSCI World Index (the Index) return.
After strong performance in early April in the immediate aftermath of US Government’s Tariff announcement, the portfolio lagged in May and June as the market returned to its momentum and growth bias. Year-to-date the Fund remains ahead of the benchmark by more than 500 basis points (net of fees).
In this quarterly video update, Warryn Robertson, Portfolio Manager/Analyst for the Global Equity Franchise team, explains recent performance, portfolio positioning and the role the strategy can play in an overall portfolio.
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