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Lazard US High Yield Portfolio
mutual fund
RLCIX
Payout Change
Pending
Price as of:
$17.99
+0.01
+0.06%
primary theme
High Yield Bond
share class
RLCIX (Mutual Fund)
Lazard US High Yield Portfolio
Payout Change
Pending
Price as of:
$17.99
+0.01
+0.06%
primary theme
High Yield Bond
share class
RLCIX (Mutual Fund)
Lazard US High Yield Portfolio
Payout Change
Pending
Price as of:
$17.99
+0.01
+0.06%
primary theme
High Yield Bond
share class
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
5.1%
1 yr return
5.1%
3 Yr Avg Return
1.5%
5 Yr Avg Return
2.4%
Net Assets
$127 M
Holdings in Top 10
16.1%
52 WEEK LOW AND HIGH
$18.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 38.33%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/27/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
RLCIX - Profile
Distributions
- YTD Total Return 5.1%
- 3 Yr Annualized Total Return 1.5%
- 5 Yr Annualized Total Return 2.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.66%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameLazard US High Yield Portfolio
-
Fund Family NameLAZARDFUND
-
Inception DateNov 03, 2016
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerEulogio (Joe) Ramos
Fund Description
Under normal circumstances, the Portfolio invests at least 80% of its assets in high yield fixed-income securities issued by corporations or other non-governmental issuers similar to corporations, which securities are tied economically to the US. The Portfolio considers “high yield” fixed income securities to be those rated, at the time of purchase, below investment grade by S&P Global Ratings (“S&P”) or Moody’s Investors Service, Inc. (“Moody’s”) and as low as C or Ca by S&P or Moody’s, respectively, or the unrated equivalent as determined by the Investment Manager (“junk bonds”). The Portfolio may invest in dollar-denominated securities of non-US companies, including, to a limited extent, in emerging market companies.
Although the Portfolio may invest in fixed-income securities without regard to their maturity, the Portfolio’s average weighted maturity is expected to range between two and ten years.
Securities are evaluated based on their fundamental and structural characteristics. Valuation analysis is tailored to the specific asset class, but may include credit research, prepayment or call options, maturity, duration, coupon, currency and country risks. The Portfolio is constructed using a bottom-up discipline in which the Investment Manager follows a systematic process to seek out undervalued opportunities within each sector.
The Portfolio may invest up to 20% of its assets in other securities which need not be fixed-income securities as described above and need not be tied economically to the US.
RLCIX - Performance
Return Ranking - Trailing
| Period | RLCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -8.8% | 17.7% | 91.75% |
| 1 Yr | 5.1% | -9.2% | 18.4% | 93.23% |
| 3 Yr | 1.5%* | -14.6% | 21.0% | 77.16% |
| 5 Yr | 2.4%* | -12.0% | 36.5% | 85.15% |
| 10 Yr | N/A* | -4.8% | 20.1% | 82.56% |
* Annualized
Return Ranking - Calendar
| Period | RLCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.8% | -4.7% | 14.3% | 35.20% |
| 2022 | -13.7% | -33.4% | 3.6% | 22.43% |
| 2021 | -1.0% | -8.4% | 8.2% | 80.69% |
| 2020 | 0.6% | -13.2% | 302.7% | 32.86% |
| 2019 | 8.3% | -4.4% | 13.3% | 46.17% |
Total Return Ranking - Trailing
| Period | RLCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.1% | -8.8% | 17.7% | 91.75% |
| 1 Yr | 5.1% | -9.2% | 18.4% | 93.23% |
| 3 Yr | 1.5%* | -14.6% | 21.0% | 77.16% |
| 5 Yr | 2.4%* | -12.0% | 36.5% | 85.15% |
| 10 Yr | N/A* | -4.8% | 20.1% | 78.82% |
* Annualized
Total Return Ranking - Calendar
| Period | RLCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.0% | -4.7% | 18.7% | 76.15% |
| 2022 | -9.7% | -33.4% | 47.8% | 33.89% |
| 2021 | 3.1% | -8.4% | 12.4% | 86.55% |
| 2020 | 5.1% | -9.6% | 325.6% | 57.55% |
| 2019 | 13.8% | -3.8% | 21.6% | 50.91% |
NAV & Total Return History
RLCIX - Holdings
Concentration Analysis
| RLCIX | Category Low | Category High | RLCIX % Rank | |
|---|---|---|---|---|
| Net Assets | 127 M | 3.13 M | 25.3 B | 82.30% |
| Number of Holdings | 112 | 2 | 3879 | 93.41% |
| Net Assets in Top 10 | 27 M | -492 M | 5.25 B | 78.42% |
| Weighting of Top 10 | 16.07% | 4.2% | 143.3% | 35.58% |
Top 10 Holdings
- iShares iBoxx $ High Yield Corporate Bond ETF 4.07%
- State Street Institutional Treasury Plus Money Market Fund 1.92%
- Bombardier Inc 1.47%
- Outfront Media Capital LLC / Outfront Media Capital Corp 1.36%
- Civitas Resources Inc 1.26%
- Transocean Inc 1.21%
- 1011778 BC ULC / New Red Finance Inc 1.20%
- Herc Holdings Inc 1.19%
- Seagate HDD Cayman 1.19%
- Avis Budget Car Rental LLC / Avis Budget Finance Inc 1.19%
Asset Allocation
| Weighting | Return Low | Return High | RLCIX % Rank | |
|---|---|---|---|---|
| Bonds | 93.22% | 0.00% | 145.36% | 71.64% |
| Stocks | 4.07% | 0.00% | 97.54% | 14.75% |
| Cash | 2.71% | -52.00% | 47.28% | 67.55% |
| Convertible Bonds | 0.65% | 0.00% | 17.89% | 67.05% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 58.65% |
| Other | 0.00% | -39.08% | 99.86% | 61.94% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | RLCIX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | N/A |
| Technology | 0.00% | 0.00% | 33.17% | N/A |
| Real Estate | 0.00% | 0.00% | 86.71% | N/A |
| Industrials | 0.00% | 0.00% | 93.12% | N/A |
| Healthcare | 0.00% | 0.00% | 22.17% | N/A |
| Financial Services | 0.00% | 0.00% | 100.00% | N/A |
| Energy | 0.00% | 0.00% | 100.00% | N/A |
| Communication Services | 0.00% | 0.00% | 99.99% | N/A |
| Consumer Defense | 0.00% | 0.00% | 100.00% | N/A |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
| Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | RLCIX % Rank | |
|---|---|---|---|---|
| US | 4.07% | 0.00% | 97.54% | 14.83% |
| Non US | 0.00% | -0.01% | 2.00% | 44.48% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | RLCIX % Rank | |
|---|---|---|---|---|
| Corporate | 96.24% | 0.00% | 100.00% | 38.94% |
| Cash & Equivalents | 1.92% | 0.00% | 47.28% | 68.70% |
| Securitized | 0.41% | 0.00% | 97.24% | 28.55% |
| Derivative | 0.00% | -14.58% | 42.26% | 50.41% |
| Municipal | 0.00% | 0.00% | 1.17% | 33.33% |
| Government | 0.00% | 0.00% | 99.07% | 52.81% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | RLCIX % Rank | |
|---|---|---|---|---|
| US | 93.22% | 0.00% | 126.57% | 52.88% |
| Non US | 0.00% | 0.00% | 97.54% | 59.97% |
RLCIX - Expenses
Operational Fees
| RLCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 38.33% | 0.02% | 38.33% | 0.16% |
| Management Fee | 0.55% | 0.00% | 1.75% | 44.66% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.00% | 0.50% | 3.56% |
Sales Fees
| RLCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| RLCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 73.47% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| RLCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 30.00% | 1.00% | 255.00% | 7.55% |
RLCIX - Distributions
Dividend Yield Analysis
| RLCIX | Category Low | Category High | RLCIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.63% | 0.00% | 11.76% | 88.05% |
Dividend Distribution Analysis
| RLCIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| RLCIX | Category Low | Category High | RLCIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.66% | -2.39% | 9.30% | 81.04% |
Capital Gain Distribution Analysis
| RLCIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 30, 2024 | $0.084 | OrdinaryDividend |
| Oct 31, 2024 | $0.081 | OrdinaryDividend |
| Sep 30, 2024 | $0.077 | OrdinaryDividend |
| Aug 31, 2024 | $0.078 | OrdinaryDividend |
| Jul 31, 2024 | $0.078 | OrdinaryDividend |
| Jun 30, 2024 | $0.074 | OrdinaryDividend |
| May 31, 2024 | $0.071 | OrdinaryDividend |
| Apr 30, 2024 | $0.072 | OrdinaryDividend |
| Mar 28, 2024 | $0.073 | OrdinaryDividend |
| Feb 29, 2024 | $0.070 | OrdinaryDividend |
| Jan 31, 2024 | $0.066 | OrdinaryDividend |
| Dec 29, 2023 | $0.068 | OrdinaryDividend |
| Nov 30, 2023 | $0.067 | OrdinaryDividend |
| Oct 31, 2023 | $0.065 | OrdinaryDividend |
| Sep 30, 2023 | $0.065 | OrdinaryDividend |
| Aug 31, 2023 | $0.065 | OrdinaryDividend |
| Jul 31, 2023 | $0.063 | OrdinaryDividend |
| Jun 30, 2023 | $0.065 | OrdinaryDividend |
| May 31, 2023 | $0.063 | OrdinaryDividend |
| Apr 28, 2023 | $0.059 | OrdinaryDividend |
| Mar 31, 2023 | $0.063 | OrdinaryDividend |
| Feb 28, 2023 | $0.063 | OrdinaryDividend |
| Jan 31, 2023 | $0.059 | OrdinaryDividend |
| Dec 30, 2022 | $0.063 | OrdinaryDividend |
| Nov 30, 2022 | $0.062 | OrdinaryDividend |
| Oct 31, 2022 | $0.064 | OrdinaryDividend |
| Sep 30, 2022 | $0.065 | OrdinaryDividend |
| Aug 25, 2022 | $0.054 | OrdinaryDividend |
| Jul 29, 2022 | $0.058 | OrdinaryDividend |
| Jun 30, 2022 | $0.062 | OrdinaryDividend |
| May 31, 2022 | $0.062 | OrdinaryDividend |
| Apr 29, 2022 | $0.060 | OrdinaryDividend |
| Mar 31, 2022 | $0.062 | OrdinaryDividend |
| Feb 28, 2022 | $0.061 | OrdinaryDividend |
| Jan 31, 2022 | $0.062 | OrdinaryDividend |
| Dec 31, 2021 | $0.068 | OrdinaryDividend |
| Nov 30, 2021 | $0.058 | OrdinaryDividend |
| Oct 29, 2021 | $0.059 | OrdinaryDividend |
| Sep 30, 2021 | $0.058 | OrdinaryDividend |
| Aug 31, 2021 | $0.060 | OrdinaryDividend |
| Jul 30, 2021 | $0.058 | OrdinaryDividend |
| Jun 30, 2021 | $0.063 | OrdinaryDividend |
| May 28, 2021 | $0.061 | OrdinaryDividend |
| Apr 30, 2021 | $0.061 | OrdinaryDividend |
| Mar 31, 2021 | $0.063 | OrdinaryDividend |
| Feb 26, 2021 | $0.062 | OrdinaryDividend |
| Jan 29, 2021 | $0.063 | OrdinaryDividend |
| Dec 31, 2020 | $0.061 | OrdinaryDividend |
| Nov 30, 2020 | $0.039 | OrdinaryDividend |
| Oct 30, 2020 | $0.068 | OrdinaryDividend |
| Sep 30, 2020 | $0.065 | OrdinaryDividend |
| Aug 31, 2020 | $0.068 | OrdinaryDividend |
| Jul 31, 2020 | $0.060 | OrdinaryDividend |
| Jun 30, 2020 | $0.067 | OrdinaryDividend |
| May 29, 2020 | $0.069 | OrdinaryDividend |
| Apr 30, 2020 | $0.070 | OrdinaryDividend |
| Mar 31, 2020 | $0.069 | OrdinaryDividend |
| Feb 28, 2020 | $0.068 | OrdinaryDividend |
| Jan 31, 2020 | $0.069 | OrdinaryDividend |
| Dec 31, 2019 | $0.072 | OrdinaryDividend |
| Nov 29, 2019 | $0.070 | OrdinaryDividend |
| Oct 31, 2019 | $0.071 | OrdinaryDividend |
| Sep 30, 2019 | $0.072 | OrdinaryDividend |
| Aug 30, 2019 | $0.074 | OrdinaryDividend |
| Jul 31, 2019 | $0.072 | OrdinaryDividend |
RLCIX - Fund Manager Analysis
Managers
Eulogio (Joe) Ramos
Start Date
Tenure
Tenure Rank
Feb 28, 2016
6.26
6.3%
Joe Ramos is a Portfolio Manager/Analyst on the U.S. Fixed Income team. Prior to joining Lazard in 2006, Joe was the Chief Investment Officer of Ambac Financial Group, Inc. Previously, Joe was a member at E.H. Capital Group, LLC, a Senior Vice President and Portfolio Manager at Lazard Asset Management, a First Vice President and Senior Portfolio Manager at Lehman Management Co., and a Senior Analyst in the Lehman Brothers Kuhn Loeb Fixed Income Research Department. He has a BS from New York University. Joe Ramos is a member of the CFA Institute, the NYSSA and the Economic Club of New York.
Jeffrey Clarke
Start Date
Tenure
Tenure Rank
Aug 31, 2017
4.75
4.8%
Jeffrey Clarke, CFA, a Senior Vice President of Lazard, is a portfolio manager/analyst on the Investment Manager’s US Fixed Income team. Mr. Clarke primarily focuses on investment opportunities in the US Taxable markets, specializing in US Corporate High Yield credits. He began working in the investment field in 1999. Prior to joining Lazard in 2002, Jeffrey was a High Yield Research Analyst and Funds Administrator with OFFITBANK, and was also previously with the Bank of New York. He has an MBA from New York University and a BA in Business Administration from Hofstra University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.31 | 8.17 |
