Lazard Emerging Markets Equity InstlLZEMX

Morningstar Rating

Fund Research and Analysis

by Gregg Wolper

It wouldn't be wise to become interested in Lazard Emerging Markets based on its huge recent gains, but investors with reasonable expectations should give the fund a look.

Emerging markets have been on a tear since the market bottomed in early March Read more

Kudos

Uses a consistent, value-oriented strategy.

Strong long-term performance. Read more

Risks

Relative caution can leave it out of step with emerging-markets rallies at times.

Like all emerging-markets funds, this one could suffer volatility and significant losses.

Suffered from investment in Satyam Computer Services, which had a scandal in early 2009. Read more

Strategy

Like its Lazard international-fund siblings, this fund steers clear of high price tags, using a relative-value approach rather than a strict deep-value style. With their emphasis on a bottom-up approach, Read more

Management

The day-to-day manager is James M. Donald, who joined Lazard Asset Management as an analyst in 1996 and was named comanager of this fund in November 2001. John Reinsberg, who has been one of this fund's managers since its 1994 inception, is a longtime Read more

Inside Scoop

This fund uses a relative-value approach. Its top stocks often feature names not heavily weighted in other emerging-markets portfolios. Unlike many rivals in this category, Read more

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