Lazard US Short Duration Fixed Income Portfolio Open Shares (UMNOX) is an open-end mutual fund managed by Lazard Asset Management LLC, a leading global investment firm specializing in active asset management. The fund seeks total return through a combination of current income and capital appreciation by investing primarily in a diversified portfolio of short-duration, investment-grade fixed income securities, including U.S. Treasury obligations, government agency securities, corporate bonds, mortgage-backed securities, and asset-backed securities; it maintains an average portfolio duration of no more than three years to mitigate interest rate risk while targeting high-quality issuers across sectors such as financials, industrials, and utilities. Lazard Asset Management, founded in 1848 and headquartered in New York, operates worldwide with offices in over 20 countries, serving institutional investors, financial advisors, and high-net-worth individuals through a range of equity, fixed income, alternative, and multi-asset strategies. In recent developments, Lazard completed the acquisition of a majority stake in an independent fixed income platform in 2024 to bolster its short-duration and core fixed income capabilities, enhancing portfolio management expertise amid rising demand for income-focused strategies in a volatile rate environment; additionally, the firm announced strategic expansions in ESG-integrated fixed income offerings during 2025, aligning with client preferences for sustainable investments without compromising yield objectives.