Lazard recently announced Lazard U.S. Equity Concentrated's 2023 distribution estimates. The fund expects to distribute roughly $5.65 per share at the end of 2023, which would be an astonishing 40% of its net asset value as of Oct. 18, 2023. Most of the distribution is expected to be long-term gains, which get taxed at a lower rate, but investors in taxable accounts should still anticipate a hefty tax bill. Morningstar estimates that the fund had nearly $970 million in outflows in 2023 through September, which was nearly 80% of the fund's year-end 2022 $1.2 billion assets under management. The outflows come amid a stretch of underperformance and likely led the managers to sell or trim holdings to meet redemptions. The fund's shrinkage is a cause for concern, but the strategy itself still has about $4 billion following it, mostly in separate accounts.
Lazard US Equity Concentrated Instl LEVIX
- NAV / 1-Day Return 8.84 / +0.45 %
- Total Assets 142.5 Mil
-
Adj. Expense Ratio
- Expense Ratio 0.780%
- Distribution Fee Level Above Average
- Share Class Type Institutional
- Category Large Blend
- Investment Style Large Blend
- Min. Initial Investment 10,000
- Status Open
- TTM Yield 1.09%
- Turnover 81%
USD | NAV as of Mar 28, 2024 | 1-Day Return as of Mar 28, 2024, 10:16 PM GMT+0
Morningstar’s Analysis LEVIX
Will LEVIX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
Parent Pillar
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 64.1
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
---|---|---|---|
Laboratory Corp of America Holdings | 11.73 | 24.0 Mil | Healthcare |
Alphabet Inc Class A | 9.55 | 19.5 Mil | Communication Services |
S&P Global Inc | 8.91 | 18.2 Mil | Financial Services |
Analog Devices Inc | 5.47 | 11.2 Mil | Technology |
Crown Castle Inc | 5.22 | 10.7 Mil | Real Estate |
Public Storage | 4.97 | 10.2 Mil | Real Estate |
Visa Inc Class A | 4.63 | 9.5 Mil | Financial Services |
McDonald's Corp | 4.63 | 9.5 Mil | Consumer Cyclical |
Otis Worldwide Corp Ordinary Shares | 4.56 | 9.3 Mil | Industrials |
Fidelity National Information Services Inc | 4.46 | 9.1 Mil | Technology |