Lazard Small Caps Euro SRI I

Lazard Small Caps Euro seeks to achieve a net-of-fee performance greater than the Eurozone small- and mid-cap universe, as represented by the EMIX Smaller Euro Index calculated on a total return basis, over a minimum recommended investment period of fi ve years. This concentrated portfolio invests in family-owned and entrepreneurial SMEs with sound balance sheets and a strong stock market track record, leveraging on niche businesses with significant entrance barriers and access to segments not included in large caps category.