Lazard Agrees To Increase Disclosure Of Managed Assets
Lazard Agrees to Increase Disclosure of Managed Assets
Lazard Ltd. (LAZ), the independent merger adviser that earns about half of its revenue from asset management, agreed to boost disclosures about that business after a request from regulators.
Lazard said it will include tables showing inflows and outflows, as well as changes in market value for specific asset classes, including equities and fixed income, in future filings, according to correspondence between the Hamilton, Bermuda-based company and the Securities and Exchange Commission released today.
Lazard’s revenue from the business climbed 13 percent to $248 million in the third quarter from a year earlier as assets under management surged to a record $176 billion at Sept. 30, according to an Oct. 24 statement. Lazard’s proposed table shows the results were aided by a $9.06 billion appreciation in the market value of managed equities.
Judi Mackey, a spokeswoman for Lazard, declined to comment on the filings.
http://www.bloomberg.com/news/2014-01-10/lazard-agrees-to-increase-disclosure-of-assets-under-management.html
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Lazard Ltd : Lazard World Dividend & Income Fund Declares Monthly Distribution
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http://www.4-traders.com/LAZARD-LTD-13358/news/Lazard-Ltd--Lazard-World-Dividend--Income-Fund-Declares-Monthly-Distribution-17474880/
The Board of Directors of Lazard World Dividend & Income Fund, Inc. (the "Fund") (NYSE:LOR) has authorized the Fund to declare today, pursuant to a level distribution policy, a monthly distribution of $0.07822 per share on the Fund's outstanding common stock. The distribution is payable on December 23, 2013 to shareholders of record on December 12, 2013. The ex-dividend date is December 10, 2013.
Portfolio data as of October 31, 2013, including performance, asset allocation, top 10 holdings, sector weightings, regional exposure, and other Fund characteristics have been posted on Lazard Asset Management LLC's ("LAM") website, www.LazardNet.com. Additionally, the notice required by Section 19(a) of the Investment Company Act of 1940, as amended, which provides information regarding the respective estimated amounts of each monthly distribution derived from net investment income, net realized capital gains (short- and long-term) and return of capital, will also be available on www.LazardNet.com.
The Fund's objective is total return, through a combination of dividends, income, and capital appreciation. The Fund's net assets are invested in a portfolio of approximately 60 to 90 world equity securities, consisting primarily of stocks selected from the current holdings of other accounts managed by LAM. The equity portfolio is broadly diversified in both developed and emerging market countries and across the capitalization spectrum. The Fund seeks enhanced income by investing in short duration (typically less than one year) emerging market forward currency contracts and other emerging market debt instruments.
An indirect subsidiary of Lazard Ltd (NYSE:LAZ), LAM, the Fund's investment manager, offers a range of equity, fixed-income, and alternative investment products worldwide. As of September 30, 2013, LAM and affiliated asset management companies in the Lazard Group managed $176 billion worth of client assets. For more information about LAM, please go to www.LazardNet.com.
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