Lazard Global Equity ex-Australian I Cl - Managed Fund (Closed)

The objective of the Lazard Global Equity ex-Australian I Cl managed fund is The LQE Global (ex-Australia) 130/30 Fund seeks to achieve total returns (comprising income and capital appreciation and before the deduction of fees and taxes) that outperform the MSCI World ex-Australia Index with net dividends reinvested ('the benchmark') by 4-5% per annum over rolling three-year periods.

The strategy of the Lazard Global Equity ex-Australian I Cl managed fund is The Fund is constructed by investing approximately 130% of the portfolio in a diversified group of global listed securities excluding securities listed on the Australian stock exchange, and selling short a similarly diversified group equivalent to 30% of the Fund. In aggregate, the Fund's systematic risk (Beta) will be similar to the market. Following the stock ranking process outlined below, the most attractive stocks are included in the long portfolio and the least attractive are sold short.

The APIR code of the Lazard Global Equity ex-Australian I Cl managed fund is LAZ0001AU.

Lazard Global Equity ex-Australian I Cl’s total return last month was -3.94%. This was made up of a growth return of -3.94% and an income return of 0%. These returns were calculated as at 31 Oct 2009.

Lazard Global Equity ex-Australian I Cl’s total return for the last three months was -1.73%. This was made up of a growth return of -1.73% and an income return of 0%%. These returns were calculated as at 31 Oct 2009.

Lazard Global Equity ex-Australian I Cl’s one-year total return is -12.83%. This was made up of a growth return of -17.63% and an income return of 4.8%. These returns were calculated as at 31 Oct 2009.

Lazard Global Equity ex-Australian I Cl’s one-year total return is -8.89%. This was made up of a growth return of -12.28% and an income return of 3.39%. These returns were calculated as at 31 Oct 2009.

The asset allocation of the Lazard Global Equity ex-Australian I Cl managed fund is :

The Responsible Entity for the Lazard Global Equity ex-Australian I Cl managed fund is Lazard Asset Management Pacific Co.

The Lazard Global Equity ex-Australian I Cl managed fund belongs to the Equity World Large Value sector/asset class.

As at 30 Jun 2009, the size of the Lazard Global Equity ex-Australian I Cl managed fund was $10.33 million.

The Lazard Global Equity ex-Australian I Cl managed fund has an inception date of 14 Jul 1995.

The current entry price of the Lazard Global Equity ex-Australian I Cl managed fund is $0.9809 per unit and the current exit price is $0.975 per unit (as at 24 Nov 2009).

The current exit price of the Lazard Global Equity ex-Australian I Cl managed fund is $0.975 per unit and the current entry price is $0.9809 per unit (as at 24 Nov 2009).

The minimum initial investment amount for the Lazard Global Equity ex-Australian I Cl managed fund is $5,000,000.