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| Important Tax Information | Year End Distributions | Prospectus and Shareholder Reports |
 
Fund Description - Open Shares Symbol: LZMOX
CUSIP: 52106N715

The Lazard U.S. Mid Cap Equity Portfolio seeks to generate strong returns and to outperform peers and the benchmark over a full market cycle. The Portfolio looks to invest in companies with high free cash flow, high return on equity, and low valuation.

 
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 U.S. Mid Cap Equity Portfolio were approximately $147.5 million, including approximately $52.4 million in the Open Shares (LZMOX).

 
Performance (%) (as of 12/31/2011 )
         
Annualized Returns
(net of fees)Month-EndThree-MonthYear-To-DateOne-YearThree-YearFive-YearTen-YearSince Inception 11/4/1997
Lazard U.S. Mid Cap Equity Portfolio0.1111.54-5.84-5.8417.02-0.944.956.56
Russell Midcap Index-0.1212.31-1.55-1.5520.171.416.997.25
 

The performance quoted represents past performance. Past performance does not guarantee future results. Net-of-fees performance is measured from inception (November 4, 1997). 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.

 
Investment Strategy

  • Bottom-up approach to stock selection, the hallmark of Lazard’s relative-value investment style.
  • Fundamental analysis considers sustainability of returns, while accounting validation examines companies’ stated financial statistics.
  • Screening seeks to identify companies that are attractively priced relative to their financial returns.
  • Quantitative research techniques are used to monitor risks associated with industry concentrations in order to ensure diversification.
 
 

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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