Lazard convertible securities. 2 Lazard receives credit quality ratings on the underlying securities of the Portfolio from two major reporting agencies —Standard & Poor’s (S&P) and Moody’s. Lazard Global Convertibles Investment Grade Fund (the "Fund") aims to maximise total return from income and capital growth. 724 / 0. LAM Securities is a member of the Financial Industry Regulatory Authority, Inc. This PDS for the Lazard Global Convertibles Fund (APIR LAZ3113AU) is dated 20 June 2025. A convertible arbitrage strategy typically goes long on the convertible securities of a company and simultaneously shorts the same issuer’s common stock. "The current market distortions make a convertible recovery strategy attractive for investors, who can benefit from convertible bonds that are undervalued," said Arnaud Brillois, Managing Director, Portfolio Manager/Analyst at Lazard Asset Management. Prior to joining Lazard in 2007, Sean was a portfolio manager for convertible arbitrage strategies at SAC Capital Management from April 2003 to August 2006 and, subsequent to this, senior portfolio manager at Sailfish Capital Partners’ G2 Multi Strategy Fund. Convertible bonds simultaneously inhabit two worlds, combining features of both equity and fixed income securities. 78% The securities listed above are not registered and will not be registered for sale in the United Sates and cannot be purchased by U. Lazard Convertible Global seeks to outperform the Refinitiv (ex Thomson Reuters) Global Focus Convertible Index, over a minimum recommended investment period of five years, and benefit from the convexity and asymmetry of international convertible bonds. Learn more about mutual funds at fidelity. "Sectors that have been heavily impacted by the downturn are likely to use convertible bonds as their primary financing instrument since nvestment opportunities. debt securities that are convertible into the equity securities of the issuer) which the Investment Manager has determined qualify as investment grade. The Lazard Global Convertibles Investment Grade Fund seeks to outperform the FTSE Global Focus Investment Grade Convertible Index over an extended time frame. 4. To achieve this objective, the SICAV is actively managed using a fundamental approach comprising several analysis phases: study of the The Lazard Rathmore strategy is a hedged convertibles strategy, best described as convertible arbitrage, where typically a long convertible bond position is hedged with a short stock position in the same company. The investment team employs a fundamental, bottom-up approach that utilises rigorous qualitative and quantitative analysis to drive security selection, complemented by a top-down process that Lazard Convertible Global seeks to outperform the Refinitiv (ex Thomson Reuters) Global Focus Convertible Index, over a minimum recommended investment period of five years, and benefit from the convexity and asymmetry of inte rnational convertible bonds. Read more here. The Lazard US Convertibles Portfolio seeks maximum total return from a combination of capital appreciation and current income. The Lazard Global Convertibles Fund is an actively managed convertible bond portfolio that typically holds 60 to 80 convertible global bonds selected from a universe of approximately 1,000 securities. The team uses a fundamental, bottom-up approach comprised of rigorous qualitative and quantitative analysis to drive security selection, and a top-down process that guides tactical positioning. Lazard US Convertibles Portfolio invests at least 80% of its assets in convertible securities that are economically tied to the US See Lazard US Convertibles Portfolio (CONIX) mutual fund ratings from all the top fund analysts in one place. ly consist of U. Convertibles Portfolio. Up to 20% of the portfolio can be in ested in securities that are not required to be convertible securities, or econo Dec 3, 2025 ยท Analyze the Fund Lazard US Convertibles Portfolio Open Shares having Symbol CONOX for type mutual-funds and perform research on other mutual funds. Why Lazard for Convertible Arbitrage Investing? The Lazard Rathmore team is one of the largest and longest tenured convertible arbitrage managers operating in the space today. In the event of a default by the issuer, or if the issuer restructures during bankruptcy or similar proceedings, the convertible securities invested in by the Fund may be subordinated to other creditors and hence may receive a lesser payment than other more senior debt securities issued by that same company. Are Convertible Arbitrage Hedge Funds for You? Funds Lazard Global Convertibles Recovery Fund A Acc USD IE00BMW2TF54:USD Actions Price (USD) 135. 91% Performance charts for Lazard Convertible Global Fund (OBJCONR) including intraday, historical and comparison charts, technical analysis and trend lines. Convertibles Portfolio, managed by Arnaud Brillois and his team. Lazard Australian Equity Fund and Lazard Select Australian Equity Fund Investment philosophy Lazard believes that emotions move share prices away from their intrinsic value. 01% 1 Year change +15. Under normal circumstances, the Portfolio invests at least 80% of its assets (including borrowing for investment purposes) in convertible securities that are economically tied to the U. S. Previously he was a convertible arbitrage portfolio manager at the Clinton Group, Inc. The Lazard Wealth global investment platform is open architecture and spans all asset classes, both blic and private. 04% 1 Year change +7. The fund focuses on U. To achieve this objective, the SICAV is actively managed using a fundamental approach comprising several analysis phases: study of the The Lazard Emerging Markets Opportunities ETF and Lazard International Dynamic Equity ETF are classified as a “diversified” investment company, which means that, with respect to 75% of each Portfolio’s total assets, the Portfolio will not invest more than 5% of its total assets in the securities of any single issuer nor hold more than 10% The strategies pursue both convertible arbitrage and special situation investment opportunities. Section 1 About Lazard Asset Management Pacific Co. The credit quality breakdown is provided by Lazard by using the S&P rating when both agencies assign the same rating to a security. These securities will be denominated in euros and/or local currencies. The Portfolio uses selective position-and portfolio-level hedges, seeking to minimize equity, credit, and interest rate risk. To achieve this objective, the SICAV is actively managed using a fundamental approach comprising several analysis phases: study of the Lazard Asset Management has launched the Lazard U. Key Facts Objective The investment seeks long-term capital appreciation. 016 / 0. The Fund will primarily consist of U. convertible securities, with some exposure to equity as a result of bond conversions. e. NEW YORK, January 12, 2023 – Lazard Asset Management today announced the launch of the Lazard U. convertible securities, allowing up to 20% in non-convertible securities. 65 Today's Change 7. Its wholly-owned subsidiary, Lazard Asset Management Securities LLC (“LAM Securities” and together with LAM, “we” or “us”), is a limited-purpose broker-dealer registered with the SEC that acts as an introducing broker for some of our advisory clients. Securities with embedded derivatives The manager may invest in all securities with embedded derivatives that are permitted under the management company's business plan, notably convertible bonds and warrants traded on regulated, organised and OTC markets, up to 100% of the net assets. Funds Lazard Global Convertibles Recovery Fund J Acc GBP IE000LC98GH9:GBP Actions Price (GBP) 116. The resulting price convexity is the defining characteristic of a convertible bond—which is most valuable when it is strongly convex. The Lazard Global Convertibles strategy seeks to outperform the Thomson Reuters Convertible Global Focus Index over an extended time frame. In fact, he is so familiar with the idea his latest fund is dedicated solely to finding securities that can bounce back most strongly. investors as the securities can only be purchased in jurisdictions where they have been registered for sale or where an exemption from registration applies. In the first quarter, the Lazard US Convertible Portfolio outperformed its benchmark, the ICE BofA All US Convertibles Index. 69 / 0. Total returns on $1,000 USD 3M 6M 1Y 3Y 5Y Lazard Global Convertibles Invt Grd Fd Fund Convertible Bond - Global Morningstar category The securities mentioned are not necessarily held by Lazard for all client portfolios, and their mention should not be considered a recommendation or solicitation to purchase or sell these securities. Lazard Wealth may invest or recommend the investment of client assets in strategies and funds managed and/or sponsored by LAM. The Lazard Convertible Global Recovery fund was launched at the end of August with the explicit aim to tap into convertible bonds likely to go through a major increase in valuation. In the first quarter, the Lazard US Convertible Portfolio underperformed its benchmark, the ICE BofA US Convertible Index. Convertible securities are relatively simple in concept: A convertible bond is a regular corporate bond that has the added feature of being converted into a fixed number of shares of common stock. Convertible arbitrage strategies generally involve price spreads between the convertible security and the underlying equity security. For information Convertible Arbitrage: Insights and Techniques for Successful Hedging Global Convertible Investing: The Gabelli Way Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies RWC Convertible Bond Guide – A useful introduction and quick reference. The SICAV's portfolio comprises: European and foreign (including emerging) convertible bonds issued by companies and financial institutions, and similar instruments (“preferred convertibles”). com. Benchmarking against the ICE BofA All U. The Fund will primarily consist of The Lazard Global Convertibles strategy seeks to outperform the Thomson Reuters Convertible Global Focus Index over an extended time frame. 04/2025 PC H CHF Share Class Alpha represents the return of a portfolio that is attributable to the manager's investment decisions. 78 Today's Change 0. Investment in unrated convertible Funds Lazard Convertible Europe PC EUR FR0010642603:EUR Actions Price (EUR) 21,051. The portfolio will primarily consist of US NEW YORK, January 12, 2023 – Lazard Asset Management today announced the launch of the Lazard U. The portfolio will primarily Lazard Convertible Global seeks to outperform the Refinitiv (ex Thomson Reuters) Global Focus Convertible Index, over a minimum recommended investment period of five years, and benefit from the convexity and asymmetry of international convertible bonds. Lazard, who holds an Australian Financial Services Licence number 238432, is the Responsible Entity of the Fund available for investment through the PDS and the issuer of the PDS and the units in the Fund. 62% 1 Year change +7. To achieve this objective, the SICAV is actively managed using a fundamental approach comprising several analysis phases: study of the The SICAV's portfolio comprises: European and foreign (including emerging) convertible bonds issued by companies and financial institutions, and similar instruments (“preferred convertibles”). The Investor Relations website contains information about Lazard's business for stockholders, potential investors, and financial analysts. The Fund is actively managed and will primarily invest in convertibles bonds (i. Position-level hedges are actively traded in order to monetize market volatility. The prices of these investments can be volatile, as market movements are difficult to predict. . Conversion terms and con-ditions are defined by the issuing corporation at issuance. 09% 1 Year change -1. - Expands Long Only Convertible Bonds Offering - LONDON, 6 May 2021, Lazard Asset Management (LAM) today announced the launch of the Lazard Global Convertible Investment Grade Bond Fund. The investment team employs a fundamental, bottom-up approach that utilizes rigorous qualitative and quantitative analysis to drive security selection, complemented by a top-down process that guides tactical positioning. LONDON, 6 May 2021, Lazard Asset Management (LAM) today announced the launch of the Lazard Global Convertible Investment Grade Bond Fund. The portfolio will primarily not sure if Lazard has a desk to issue convertible securities - this might be a purely consulting area, advising client on how best to issue them. 62 / 0. An investment in the Fund does not represent deposits or other liabilities of any member of the The Lazard Enhanced Opportunities Portfolio utilizes a hedged strategy, investing in convertible securities, as well as preferred securities, equities, fixed income, options, and ETFs, with the objective of current income and long-term capital appreciation. Founded in 1848, Lazard offers world-class financial advisory and asset management services for clients globally. 68 Today's Change 1. See Lazard US Convertibles Portfolio performance, holdings, fees, risk and other data LAZARD US CONVERTIBLES PORTFOLIO OPEN SHARES- Performance charts including intraday, historical charts and prices and keydata. 36% A convertible bond is a corporate issued debt security that offers the ability to convert the bond into stock at or above a predetermined price. Lazard is the Responsible Entity of the Fund and is a subsidiary of Lazard Asset Management analysts in the major regions across the world including North America, Europe, the Middle East and Asia Pacific. 54% Yield is the internal rate of return of a bond if held to maturity, but not accounting for conversion features of a convertible bond. The fund, which is the firm’s fifth long only convertible bond offering, is designed to provide long-term capital appreciation by investing in global convertible securities that qualify as investment grade. The manager may invest in all securities with embedded derivatives that are permitted under the management company's business plan, notably convertible bonds and warrants traded on regulated, organised and OTC markets, up to 100% of the net assets. Latest Lazard Convertible Global PC EUR (FR0000098683:EUR) share price with interactive charts, historical prices, comparative analysis, forecasts, business profile and more. 86 Today's Change 0. Investment Policy The Fund seeks long-term capital appreciation. Funds Lazard Convertible Global PC EUR FR0000098683:EUR Actions Price (EUR) 1,886. Convertibles Index, the fund aims to provide investors exposure to equity rebounds while mitigating downside risks through its bond Total returns on $1,000 USD 3M 6M 1Y 3Y 5Y Lazard Convertible Global Fund Convertible Bond - Global Morningstar category The SICAV's portfolio comprises: European and foreign (including emerging) convertible bonds issued by companies and financial institutions, and similar instruments (“preferred convertibles”). 6g87, oaaypf, axpr, bhbotr, 97b94, jwrgfc, hobsm, fyp9, mlsz, fjzu,