Lazard International Strategic Equity Portfolio R6
RLITX
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- Lazard International Strategic Equity Portfolio R6 (RLITX) is an open-end mutual fund that seeks long-term capital appreciation by investing primarily in equity securities, principally common stocks, of non-U.S. companies whose principal activities are located in countries outside the United States; the portfolio actively invests across the market capitalization spectrum, unconstrained by a benchmark, with a focus on undervalued international equities in sectors such as financial services, industrials, technology, and consumer defensive; top holdings include ASML Holding NV, Piraeus Financial Holdings SA, Bank Leumi Le-Israel BM, ABB Ltd, and RELX PLC. The R6 share class, which features a net expense ratio of 0.83%, targets institutional investors with a minimum investment of $1,000,000 and emphasizes bottom-up security selection to capture attractive risk-adjusted returns over full market cycles. Managed by Lazard Asset Management LLC, a division of Lazard founded in 1848 and headquartered at 30 Rockefeller Plaza in New York, the fund operates within Lazard's global asset management platform, which spans North America, Europe, Asia, and other regions. The International Strategic Equity Portfolio R6, with an inception date of January 16, 2015 for the R6 class (building on the broader strategy launched in 2005), maintains a benchmark-agnostic approach aligned with the MSCI EAFE NR USD index and holds assets under management approximating $1.62 billion. Geographically, the portfolio diversifies across Europe (including the Eurozone and United Kingdom), Japan, and other developed and emerging international markets, with approximately 86.71% in non-U.S. stocks, 9.55% in U.S. stocks, and the remainder in cash equivalents. Lazard Asset Management supports the fund through a team of experienced portfolio managers, including Managing Director Michael Bennett, leveraging proprietary research to navigate volatile emerging markets and identify securities with unrecognized value. In recent developments, Lazard Asset Management has expanded its product offerings through multiple mutual fund conversions to actively managed ETFs, including the completion of the Lazard International Equity Advantage mutual fund conversion to the Lazard International Dynamic Equity ETF (NYSE: IEQ) in May 2025, alongside launches such as the Lazard Listed Infrastructure ETF (NYSE: GLIX) in October 2025 and the Lazard US Systematic Small Cap Equity ETF (NYSE: SYZ) in September 2025, reflecting a strategic shift toward tax-efficient, lower-fee ETF solutions while enhancing access to international and thematic equity strategies. The firm also pursued infrastructure-focused growth, with its Sustainable Private Infrastructure strategy acquiring Collective Energy GmbH in May 2024 and forming a strategic partnership with Renfin for Italian hydropower investments in April 2024, alongside a venture capital alliance with Elaia Partners in April 2024 to bolster technology investments across Europe. These initiatives underscore Lazard's commitment to innovation in asset management amid evolving market dynamics, with no direct reorganizations or name changes affecting the RLITX portfolio itself.