LAZARD DIVIDEND LOWVOL SRI
06 / 2021 Unit C/Eurozone equities
Total net assets 122,53M€ Inception date (unit) 1 avr. 2008 MORNINGSTAR NAV 340,73 € ISIN Code FR0010586024 OVERALL Classification SFDR : Article 8 SUSTAINABILITY
Country of registration
MANAGER(S) INVESTMENT POLICY The management objective aims to achieve, based on a minimum investment term of five years, a performance greater than the Euro Stoxx index, net dividends reinvested, with a lower volatility and a controlled compared risk.
Scander Bentchikou
FUND MANAGERS COMMENT The Euro Stoxx rose by 0,98% in June, fuelled by an easing in long-term rates and the prospect of excellent half-year earnings releases. The latter are expected to show exceptional growth, in the same vein as that of Q1. The fund outperformed by 136bp, benefiting from a strong stock-picking effect in industrial goods (Mayr Melnhof, Bureau Veritas), utilities (Snam, absence of Iberdrola) and insurance (Tryg). The allocation effect was negative, however, due to the fund’s underexposure to the technology sector and its overexposure to the insurance and utilities sectors.
RISK SCALE* CHANGE IN NET ASSET VALUE (NAV)
Recommended investment period of 5 years
BENCHMARK INDEX Eurostoxx Net Return EUR
FEATURES
Legal Form FCP Legal Domicile France UCITS Yes AMF Classification Eurozone equities Fund Benchmark index Eligibility to PEA (personal Yes equity savings plan) Past performance is not a guarantee of current or future performance and increases at the end of the recommended investment period. Currency EURO Subscribers concerned No restriction HISTORICAL PERFORMANCE Inception date 01/04/2008 Cumulative Annualized Date of share's first NAV 01/04/2008 calculation 1 Month 2021 1 Year 3 Years 5 Years 3 Years 5 Years Lazard Frères Gestion SAS Management company Fund 2,34% 13,27% 17,88% 13,55% 32,83% 4,33% 5,84% Custodian Lazard Frères Banque Benchmark index 0,98% 15,23% 30,59% 27,52% 64,49% 8,44% 10,47% Fund administration CACEIS Fund Admin Difference 1,36% -1,96% -12,71% -13,98% -31,66% -4,12% -4,62% Frequency of NAV calculation Daily Order execution On next NAV for orders placed before 11:00 a.m PERFORMANCE BY CALENDAR YEAR RISK RATIOS** Subscritption terms D (NAV date) + 2 business day Fund Benchmark index Settlement of redemptions D (NAV date) + 2 business day 1 Year 3 Years Share decimalisation Yes 2020 -8,96% 0,25% Volatility 1 share 2019 20,05% 26,11% Minimum investment Fund 11,65% 17,88% Subscription fees 4% max 2018 -9,51% -12,72% Benchmark index 15,03% 22,67% Redemption fees 0% 2017 12,85% 12,55% Management fees 1,10% 2016 -1,23% 4,15% Tracking Error 5,86% 7,03% Performance fees Nil Information ratio -2,33 -0,57 Current expenses 1,38% TRAILING 1Y PERFORMANCE Sharpe ratio 1,60 0,27 *Risk scale : Derived from the historic volatility of the fund over a period of 20215 06 30 17,88% 30,59% years. The management company reserves the right to adjust the level of risk Alpha -3,44 -2,19 calculated according to the specific risk of the fund. This risk scale is supplied as a 2020 06 30 -7,49% -4,51% rough guide and may be modified without advance notice.Risk 1 does not mean a 2019 06 30 4,12% 2,26% Beta 0,72 0,76 risk-free investment. This indicator may change over time. 2018 06 30 0,37% 3,50% **Ratios calculated on a weekly basis 2017 06 30 16,54% 24,62% LAZARD DIVIDEND LOWVOL SRI 06 / 2021 Unit C/Eurozone equities
MAIN HOLDINGS GEOGRAPHICAL BREAKDOWN
Holdings Country Sector Weight Fund Benchmark index
Fund Index
SANOFI France Health Care 4,5% 2,0%
AIR LIQUIDE France Chemicals 4,4% 1,4%
DEUTSCHE TELEKOM Germany Telecommunications 4,0% 1,1%
WOLTERS KLUWER Netherlands Media 3,9% 0,4%
NEXITY France Real Estate 3,8%
SNAM RETE GAS Italy Utilities 3,4% 0,2% SECTOR BREAKDOWN
Fund Benchmark index LA FRANCAISE DES JEUX France Travel & Leisure 3,4% 0,1% DEUTSCHE BOERSE Germany Financial Services 3,2% 0,5%
ORANGE France Telecommunications 3,1% 0,4%
SAMPO Finland Insurance 3,0% 0,4%
Total 36,7% 6,5%
MAIN TRANSACTIONS CAPITALIZATION BREAKDOWN CURRENCY BREAKDOWN
New positions Positions sold Fund Benchmark index Fund Benchmark index
TOTALENERGIES
Positions increased Positions reduced
MUENCHENER RUECK DEUTSCHE TELEKOM DEUTSCHE BOERSE ROCHE HOLDING INHABER HUHTAMAKI NESTLE
OVER- AND UNDEREXPOSURE TO THE RELATIVE CONTRIBUTORS TO PERFORMANCE BENCHMARK INDEX First positive contributors First negative contributors
Overexposures Underexposures Absolute Relative Absolute Relative perf. contribution perf. contribution 3,8% NEXITY ASML HLDG -4,7% (bp) (bp) LA FRANCAISE DES JEUX 8,3% 24 MERLIN PROPERTIES SOCIMI -8,0% -18 WOLTERS KLUWER 3,5% LVMH MOET HENNESSY -3,4% DEUTSCHE BOERSE 10,2% 23 ORANGE -3,1% -11
LA FRANCAISE DES JEUX 3,3% SAP -2,5% WOLTERS KLUWER 7,9% 23 NEXITY -0,8% -7 Total 71 Total -36 SNAM RETE GAS 3,2% LINDE -2,5%
CONTACTS AND ADDITIONAL INFORMATION
Subscription/redemption Additional Information & datas: Publications of NAVs: CACEIS Bank / LFB Client servicing 01.57.78.14.14 +33 1 44 13 01 79 www.lazardfreresgestion.fr
LAZARD FRÈRES GESTION SAS au capital de 14 487 500 € – 352 213 599 RCS Paris – 25 rue de Courcelles 75008 Paris www.lazardfreresgestion.fr