Lazard International Equity Value Portfolio 

This fund primarily allocates capital to shares, predominantly common stock, of corporations based outside the United States. Under typical market conditions, a minimum of 80% of its total assets are dedicated to equity holdings. The portfolio has the flexibility to invest in companies across the entire range of market capitalizations. It may, on occasion, engage in frequent and active trading, which can result in elevated portfolio turnover. This investment vehicle is classified as non-diversified.