What is the investment objective of the fund?
A. The Fund’s investment objective is total return through a combination of dividend, income, and capital appreciation. The Fund will pursue its objective through a world equity strategy while seeking to enhance income through an emerging income strategy. The Fund will invest substantially all of its net assets in between 60 to 90 world equities. Leveraged assets will be invested in a short-term emerging currency and debt strategy (limited to 33.3% or less of the fund’s total leveraged assets), which provides exposure to emerging market currencies. World Equity: The Fund will generally invest in between 60 to 90 of the highest dividend yielding world equities selected from current holdings already managed in Lazard accounts (with inceptions as far back as 1985). The portfolio is primarily driven by bottom-up stock selection and fundamental sector research. Companies are not chosen for yield alone. Emerging Income: The leveraged portion of the Fund will be invested in a diversified, sho
