Lazard Global Listed Infrastructure Equity B $ Hdg

The Fund aims to achieve over the long-term total returns comprising income and capital appreciation. The Fund is actively managed and will seek to achieve its investment objective primarily through investment on a global basis in equities (i.e. shares) and equity-related instruments (i.e shares including common and preferred stock, warrants and rights) of Infrastructure Companies. In identifying the Infrastructure Companies in which the Fund will invest, the Investment Manager applies a series of objective filters and qualitative criteria to the general investment universe of infrastructure companies to produce a "preferred universe". The stocks of the "preferred universe" are then individually assessed and ranked, using fundamental analysis to determine the valuation of each company. In addition, the Fund may invest on a global basis in Convertible Securities (which are investments that are convertible into equity securities of the issuer) and in units or shares of closed-ended listed funds. In order to ensure full flexibility to seek exposure to Infrastructure Companies on a world-wide basis, in excess of 20% of the value of the Fund may be invested in emerging markets. The Fund may use derivatives (which are financial contracts whose value is linked to the price of an underlying investment). The currency exposures of the Fund's portfolio will be substantially hedged back into Sterling, being the base currency of the Fund. As a result of its use of derivatives, the Fund may be 'geared' or 'leveraged' (which can lead to a proportionately much larger movement in the value of the Fund's assets). The expected levels of the Fund's leverage may at no time exceed 40% of the value of the Fund. The Fund has discretion as to which investments it will hold within the limits of the Investment Objective and Policy. The Fund's performance is measured against the performance of the MSCI World Core Infrastructure Index (the "Benchmark"), which the Investment Manager has

PIR compliant

No

PEA compliant

No

PEA-PME compliant

No