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| Strategy Profile | Quarterly Fact Sheet | Quarterly Review | Quarterly Holdings |
| Important Tax Information | Year End Distributions |Prospectus and Shareholder Reports |
 
Fund Description - Institutional Shares Symbol: LCAIX
CUSIP: 52106N491

The Lazard Capital Allocator (LCAS) Opportunistic Strategies Portfolio invests in “non-traditional” assets seeking long-term capital appreciation and returns with lower correlation to global capital markets. The Portfolio is comprised of between 10 and 30 unique holdings dynamically adjusted to changing market and economic conditions. Portfolio investments cover a wide range of equity and debt strategies and are diversified among countries, sectors, and asset classes that are consistent with our forward-looking assessment of the global capital market opportunity set.

Click here for an overview of the strategy.

As of 01/31/2012, the net assets of all Portfolios of The Lazard Funds, Inc. totaled approximately $17.2 billion. Net assets of Lazard Capital Allocator Opportunistic Strategies Equity Portfolio were approximately $279.2 million, including approximately $272.8 million in the Institutional Shares (LCAIX).

 
Performance (%) (as of 12/31/2011)
         
Annualized Returns
(net of fees)Month-EndThree-MonthYear-To-DateOne-YearThree-YearFive-YearTen-YearSince Inception 3/26/2008
Lazard Capital Allocator Opportunistic Strategies Portfolio-0.635.35-3.28-3.2810.34N/AN/A0.68
MSCI World Index-0.067.59-5.54-5.5411.13N/AN/A-3.02
Global Asset Allocation 60/40 Blended Index0.395.000.260.2610.08N/AN/A1.48
 

The performance quoted represents past performance. Past performance does not guarantee future results. Net-of-fees performance is measured from inception (March 26, 2008). Mutual fund performance fluctuates and currently may be lower than stated. An investor may obtain performance data current to the most recent month-end online at www.LazardNet.com. The investment return and principal value of the Portfolio will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost.

The Global Asset Allocation 60/40 Blended Index consists of a quarterly rebalanced, 60/40 split of MSCI World (net) Index/Barclays Capital Aggregate Bond Index.

Returns reflect reimbursement of expenses as described in the prospectus. Had expenses not been reimbursed, returns would have been lower and the expense ratio would have been higher.

 
Investment Strategy
  • An actively managed global portfolio seeking long-term capital appreciation.
     
  • Unconstrained investment decisions are made within the context of the overall Lazard Capital Allocator Series forward looking, global macroeconomic viewpoint.
     
  • The portfolio is primarily invested in baskets of securities such as ETFs (exchange-traded funds), ETNs (exchange-traded notes), or closed-end funds.
     
  • Integrated process of risk management, asset allocation and portfolio construction.
     
 
 

Please consider a fund's investment objectives, risks, charges, and expenses carefully before investing. For more complete information about The Lazard Funds, Inc. and current performance, you may obtain a prospectus or summary prospectus by calling 800-823-6300 or going to www.LazardNet.com. Read the prospectus or summary prospectus carefully before you invest. The prospectus and summary prospectus contain investment objectives, risks, charges, expenses, and other information about the Portfolio and The Lazard Funds that may not be detailed in this document. The Lazard Funds are distributed by Lazard Asset Management Securities LLC.

 
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