Lazard Emerging Markets Equity Portfolio
Actively managed emerging-markets stock fund
As of its 2026 Q2 report, Lazard Emerging Markets Equity Portfolio held 88 positions with $9.24B in net assets. Its ten largest holdings made up 31.3% of the fund. The LZOEX share class costs 1.32% a year. Over the 12 months to May 2026, LZOEX returned 54.8%, with dividends reinvested. In 2026 Q2 it added 2 new positions and exited 4.
The Portfolio seeks long-term capital appreciation.
The fund invests at least 80% of its assets in equity securities of companies in emerging market countries, selecting stocks that the manager believes are undervalued based on earnings, cash flow, or asset values. Holdings may include common stocks, American Depositary Receipts, and similar instruments across the countries in the MSCI Emerging Markets Index. Because returns depend on the manager's security selection, the fund's performance will diverge from any benchmark index.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Taiwan Semiconductor Manufacturing Co Ltd | 5.76% | $532.60M | 6.9M | $76.79 |
SK hynix Inc | 5.55% | $513.25M | 290.9K | $1,764.32 |
LAZARD GOVT MNY MMKT INS | 4.26% | $393.46M | — | — |
Lenovo Group Ltd | 3.43% | $317.25M | 106.2M | $2.99 |
MediaTek Inc | 2.64% | $244.29M | 1.8M | $136.55 |
NetEase Inc | 2.13% | $196.30M | 7.6M | $25.74 |
Wiwynn Corp | 1.93% | $178.73M | 1.2M | $146.74 |
Tencent Holdings Ltd | 1.89% | $174.27M | 3.2M | $55.11 |
ASE Technology Holding Co Ltd | 1.87% | $173.04M | 8.0M | $21.59 |
China Construction Bank Corp | 1.86% | $171.93M | 166.9M | $1.03 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 88 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 95.39% |
| Cash & short-term | 4.26% |
How it has done
LZOEX share class · total returns with dividends reinvested
Volatility over the last 12 months: 16.35%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 3 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 1.32% | +54.77% | +115.85% | +84.09% | -9.30% | |
| 1.07% | +55.09% | +117.41% | +86.38% | -9.22% | |
| 1.07% | +55.09% | +117.41% | +86.49% | -9.21% |
These classes hold the same portfolio, so the 2.40pp spread over 5 years is the cost difference between them — roughly 0.48pp a year — not a difference in what they own.
Fees & fund details
Lazard Emerging Markets Equity Portfolio is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 1.07% – 1.32%· LZOEX 1.32%
- Portfolio turnover
- 27.00% a year · as of 2026 Q2
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
2 new
4 exited
Understand how this fund fits with the rest.
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