Lazard Global Equity Select Portfolio Institutional Shares
GESIX
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- Lazard Global Equity Select Portfolio Institutional Shares (GESIX) is an open-end mutual fund managed by Lazard Asset Management LLC that seeks long-term capital appreciation by investing primarily in equity securities, principally common stocks, of companies with strong or improving financial productivity that are undervalued based on earnings, cash flow, or asset values. The portfolio emphasizes a concentrated selection of global large-cap equities across sectors such as technology, financial services, industrials, healthcare, and consumer defensive, with top holdings including Apple Inc., Microsoft Corp., Taiwan Semiconductor Manufacturing Co. Ltd., Amazon.com Inc., and ASML Holding NV; it maintains geographic diversification featuring approximately 56% in U.S. stocks, 43% in non-U.S. stocks including Eurozone, United Kingdom, and developed Asia, and minimal cash exposure. Institutional shares carry a net expense ratio of 0.86%, a minimum initial investment of $10,000, and are available to qualified investors in the United States. Lazard Asset Management LLC, the fund's investment manager and a division of Lazard Inc., founded in 1848 and headquartered in New York with principal offices in Paris and London, operates globally across North and South America, Europe, the Middle East, Asia, and Australia, serving institutional clients, corporations, governments, and high-net-worth individuals with asset management solutions totaling approximately $226 billion in assets under management. The firm employs a team of portfolio managers for GESIX, including Andrew Lacey (since inception), Louis Florentin-Lee, Martin Flood, Barnaby Wilson (since 2015), Jessica Kittay (since 2020), and Kyle Waldhauer (since 2021), focusing on a blend of large-cap growth in the global large-stock growth category. In recent developments, Lazard Asset Management formed a strategic partnership with Elaia Partners in April 2024 to launch Lazard Elaia Capital, a Paris-based platform for European technology investments from seed to public markets, with Lazard acquiring a minority stake and plans for an initial fund by 2025 pending regulatory approval. The firm has pursued expansions including the acquisition of Truvvo Partners to bolster U.S. family office services, new ETF launches, and leadership changes in asset management to accelerate active strategies amid Q3 2025 advisory revenue growth and private capital inflows. Additional strategic shifts encompass geographic extensions into the UAE with an Abu Dhabi office in 2025, enhanced exclusions aligned to international standards for certain funds, and a transition of the Lazard Global Small Cap Fund to a quantitative strategy effective December 2024.