Asset Class

Equities

Asset Class

Overview

Our equities investment offerings naturally emerge in response to our clients’ needs and broader market demands. We do not build solutions to simply check style boxes.  We focus on original research and bottom-up portfolio construction to fuel our approach, with risk management inputs designed to ensure we are aligned with client objectives. At the same time, our specialists are driven by debate and intellectual freedom—and they don’t always agree. There is no “house view” dictating a uniform approach to building a portfolio based on macroeconomic forecasts. This hallmark of our investment culture is designed to enable each team to identify what they believe to be the best market opportunities for our clients and deliver a pattern of performance that they have come to expect.

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Geography

Australia

Emerging Markets

Global

Non-US

Type

Fundamental

Style

Relative Value

Thematic

Value

Featured Equity

Australian Equity

Australian Equity

Seeks to achieve total returns (includes income and capital appreciation and before the deduction of fees and taxes) that exceed those of the S&P/ASX 200 Accumulation Index over the long term. The strategy invests primarily in companies among the 200 largest listed on the Australian Stock Exchange. The number of holdings will generally range from 25 to 45, which means we take active investment decisions to invest in a concentrated portfolio of companies we believed are underpriced.

Primary Benchmark

S&P/ASX 200 Index

Australia
Value

Featured Equity

Australian Equity (Benchmark Unconstrained)

Australian Equity (Benchmark Unconstrained)

Seeks to achieve total returns (includes income and capital appreciation and before the deduction of fees and taxes) that exceed those of the S&P/ASX 200 Accumulation Index over an investment cycle. The strategy invests primarily in companies among the 200 largest listed on the Australian Stock Exchange. The number of holdings will generally range from 25 to 45, which means we take active investment decisions to invest in a concentrated portfolio of companies we believed are underpriced.

Primary Benchmark

S&P/ASX 200 Index

Australia
Value

Featured assetClass0

Australian Equity Income

Australian Equity Income

Designed to provide regular, tax effective income that grows over time. It sources that income by investing in Australian companies with sustainable dividends. The strategy has a dual objective of providing income and capital growth. Depending on the breadth and depth of sustainable income opportunities, it can hold up to 10% in cash. The strategy should provide lower volatility relative to a fully invested Australian equity portfolio.

Primary Benchmark

S&P/ASX 200 Index

Australia
Value

Featured Equity

Defensive Australian Equity

Defensive Australian Equity

Designed to provide regular, tax effective income that grows over time. It sources that income by investing in Australian companies with sustainable dividends, or by investing in cash, depending on where the best opportunities exist. The strategy's objective is to achieve reduced exposure to S&P/ASX200 Accumulation Index drawdowns; a total return that exceeds the Reserve Bank of Australia Cash Rate; and an income return at a premium to the S&P/ASX200 Accumulation Index dividend yield.

Primary Benchmark

S&P/ASX 200 Index

Australia
Value

Featured Equity

Digital Health

Digital Health

Seeks long-term capital growth by investing in companies benefiting from key paradigm shifts in healthcare.

Primary Benchmark

MSCI World Index

Global
Thematic

Featured Equity

Emerging Markets Equity

Emerging Markets Equity

Seeks solid long-term relative returns by investing in financially productive firms at attractive valuations.

Primary Benchmark

MSCI Emerging Markets Index

Emerging Markets
Non-US
Fundamental
Relative Value

Featured Equity

Emerging Markets Equity Select

Emerging Markets Equity Select

Seeks long-term relative returns by investing in financially productive companies at attractive valuations.

Primary Benchmark

MSCI Emerging Markets Index

Emerging Markets
Non-US
Fundamental
Relative Value

Featured Equity

Select Australian Equity

Select Australian Equity

Seeks to achieve total returns (includes income and capital appreciation and before the deduction of fees and taxes) that exceed those of the S&P/ASX 200 Accumulation Index over the long term. The strategy invests primarily in companies among the 200 largest listed on the Australian Stock Exchange. The strategy is focused on a highly concentrated portfolio that will generally range between 12 and 30 of our "best ideas" chosen for their potential to deliver large absolute returns over the long term. By contrast with the more diversified Lazard Australian Equity strategy, the Lazard Select Australian Equity strategy places less emphasis on benchmark risk control in the portfolio construction process. It is focused on producing strong, absolute returns for investors over the long-term, rather than the more traditional relative return targets.

Primary Benchmark

S&P/ASX 200 Index

Non-US

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