Lazard US Small Cap Equity Select Instl LZSCX

The Portfolio invests primarily in equity securities, principally common stocks, of small cap US companies. The Investment Manager considers “small cap companies” to be those companies that, at the time of initial purchase by the Portfolio, have market capitalizations within the range of companies included in the Russell 2000® Index. It invests at least 80% of its assets in equity securities of small-mid cap U.S. companies. The fund may invest up to 20% of its assets in securities of larger or smaller U.S. or non-U.S. companies.