An Introduction Lazard Asset Management
Lazard Asset Management provides investment management and advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. We invest in a wide selection of equity, fixed income, and alternative investments with the goal of producing superior risk-adjusted investment returns and providing investment solutions customized for our clients. Our primary distinguishing features include: • A global footprint characterized by global research, a global investment platform, and global clients • A broad-based team of more than 340 investment personnel worldwide • Dedicated in-house research, including those focusing on global sector research and those dedicated to specialty portfolios • A focus on security selection in the investment process • Distribution across multiple channels • A strong commitment to excellence With over $213.6 billion in assets under management¹, we have 23 offices located in over 16 countries. Lazard Asset Management’s business uses a global investment platform that focuses on managing assets for our clients. As a result, throughout all market environments, we maintain a disciplined approach to investing with a research-driven investment process focusing on financial productivity and valua- tion. We believe there are substantial opportunities for investors to invest in companies with healthy balance sheets and sustainable returns.
NORTH AMERICA oston Montreal EUROPE Ne ork Amsterdam Palo Alto russels San Francisco Dublin oronto Frankfurt eneva Hamburg London Madrid Milan urich Hong Kong Melbourne Seoul Singapore Sydney okyo Dubai ASIA PACIFIC MIDDLE EAST
Key Features
Research is at the Heart of Disciplined Approach to Investing Size is an Advantage Our Investment Process • Diversify sources of alpha to manage risk • Global breadth and depth • Depth of analytical expertise • Accounting validation • Partnership between portfolio • Differentiated insight • Seek to produce an expected pattern managers and research analysts • Outstanding access of returns Robust Management of Our • Focus on cash flow, return on capital, Most Important Resource: Prudent Risk Management and valuation • Evaluate intended versus unintended risk Our People • Thorough understanding of assumptions • Clear definition of success for • Independent risk management team and uncertainties each individual • Detailed attribution • Transparent compensation linked to portfolio performance Lazard Asset Management
Notes 1 As of 30 June 2019.
Important Information Published on 26 July 2019. This document reflects the views of Lazard Asset Management LLC or its affiliates (“Lazard”) based upon information believed to be reliable as of 31 March 2019. There is no guarantee that any forecast or opinion will be realized. This document is provided by Lazard Asset Management LLC or its affiliates (“Lazard”) for informational purposes only. Nothing herein constitutes investment advice or a recommendation relating to any security, commodity, derivative, investment management service or investment product. Investments in securities, derivatives and commodities involve risk, will fluctuate in price, and may result in losses. Certain assets held in Lazard’s investment portfolios, in particular alternative investment portfolios, can involve high degrees of risk and volatility when compared to other assets. Similarly, certain assets held in Lazard’s investment portfolios may trade in less liquid or efficient markets, which can affect investment performance. Past performance does not guarantee future results. The views expressed herein are subject to change, and may differ from the views of other Lazard investment professionals. This document is intended only for persons residing in jurisdictions where its distribution or availability is consistent with local laws and Lazard’s local regulatory authorizations. Please visit www.lazardassetmanagement.com/globaldisclosure for the specific Lazard entities that have issued this document and the scope of their authorized activities. HB12417-A