The Lazard Global Total Return and Income Fund (LGI, Financial) has declared a dividend of 8 cents with an ex-dividend date of April 10. The fund is selling for $14.99. It has a year-to-date return of 9.1%, a one-year return of 20.3% and a three-year return of -10.93%.
The fund pays a monthly dividend distribution from a portfolio that seeks total return from capital appreciation and income. The majority of the fund’s investment portfolio includes approximately 60 to 80 global midcap and large-cap stocks. It also invests approximately 25% of the portfolio in leveraged debt, global currency contracts and global debt securities.
The majority of the global equity portion of the portfolio is held in companies based in North America. The fund's top three portfolio holdings were Apple (AAPL, Financial) 3.1%, Alphabet (GOOG, Financial)(GOOGL, Financial) 2.7% and Microsoft (MSFT, Financial) 2.7% as of Feb. 28.
The fund is managed by an investment team led by James Donald who has been with Lazard since 1996. Since its inception in April 2004, the fund has grown to total assets under management of $161.1 million.
Disclosure: I do not own any shares of the Lazard Global Total Return and Income Fund.
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