Lazard US Equity Concentrated Portfolio Institutional Shares 

The Lazard US Equity Concentrated Portfolio primarily allocates capital to common stocks of U.S.-based companies, spanning all market capitalizations. It maintains a highly focused investment approach, typically holding positions in a select group of 15 to 35 companies. These enterprises generally boast market capitalizations exceeding $350 million. Its investment objective is to achieve performance superior to recognized broad-based equity market benchmarks, such as the S&P 500®, Russell 1000®, and Russell 3000® Indices. During typical market environments, at least 80% of its total assets are committed to U.S. equity securities. Notably, this fund operates as a non-diversified investment vehicle.