With roots dating back more than 150 years, Lazard has demonstrated that it stands apart-a money manager unique in the investment marketplace with a singular vision of what it means to be global. A dedication to teamwork and a focus on proven strength is at the core of the Lazard investment process. Our global Analysts drive a highly-disciplined investment process with a single goal — to generate attractive, consistent returns over time with diligent risk management.

Analysts are grouped into global industry teams that are responsible for generating the research that drives decision making. This process enables the most incisive approach to bottom-up security selection.

Lazard Asset Management applies four key principles across all investment portfolios:

Investment Philosophy

• Pick securities, not markets. Securities are evaluated individually, and capital is allocated to the most attractive. Each investment decision is backed by original research, strict accounting validation, and rigorous fundamental analysis.
  
• Find relative value. A careful analysis of valuation is predicated on a long-term view of financial productivity. Understanding that value is determined by the relationship between cost and reward, an emphasis is placed on strong fundamentals.
  
• Manage risk. Although it cannot be avoided, risk can be actively managed through an understanding of the cumulative risk resulting from individual investment decisions.
  
• Stick to our discipline. In the course of a complete market cycle, investment styles will fall in and out of favor. By remaning faithful to our approach, success can be measured with a long-team perspective.