0000899681-16-001410.txt : 20160511 0000899681-16-001410.hdr.sgml : 20160511 20160511171951 ACCESSION NUMBER: 0000899681-16-001410 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160511 DATE AS OF CHANGE: 20160511 EFFECTIVENESS DATE: 20160511 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LAZARD FUNDS INC CENTRAL INDEX KEY: 0000874964 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-40682 FILM NUMBER: 161640852 BUSINESS ADDRESS: STREET 1: 30 ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10112 BUSINESS PHONE: 2126326000 MAIL ADDRESS: STREET 1: 30 ROCKEFELLER PLAZA CITY: NEW YORK STATE: NY ZIP: 10112 0000874964 S000010264 Lazard Emerging Markets Equity Portfolio C000028360 Open Shares LZOEX C000028361 Institutional Shares LZEMX C000134185 R6 Shares RLEMX 0000874964 S000010266 Lazard US Strategic Equity Portfolio C000028364 Open Shares LZUOX C000028365 Institutional Shares LZUSX C000134187 R6 Shares RLUSX 0000874964 S000010271 Lazard International Equity Portfolio C000028374 Open Shares LZIOX C000028375 Institutional Shares LZIEX C000134191 R6 Shares RLIEX 0000874964 S000010273 Lazard International Strategic Equity Portfolio C000028378 Open Shares LISOX C000028379 Institutional Shares LISIX C000134193 R6 Shares RLITX 0000874964 S000028828 Lazard Emerging Markets Equity Blend Portfolio C000088404 Institutional Shares EMBIX C000088405 Open Shares EMBOX C000134197 R6 Shares RLEBX 0000874964 S000031123 Lazard Emerging Markets Debt Portfolio C000096531 Institutional Shares LEDIX C000096532 Open Shares LEDOX C000134198 R6 Shares RLEDX 0000874964 S000031729 Lazard Emerging Markets Multi Asset Portfolio C000098748 Open Shares EMMOX C000098749 Institutional Shares EMMIX C000134200 R6 Shares RLMSX 497 1 p16-0248_497.htm
THE LAZARD FUNDS, INC.
Lazard US Strategic Equity Portfolio
Lazard International Equity Portfolio
Lazard International Strategic Equity Portfolio
Lazard Emerging Markets Equity Portfolio
Lazard Emerging Markets Equity Blend Portfolio
Lazard Emerging Markets Multi Asset Portfolio
Lazard Emerging Markets Debt Portfolio
Supplement to Prospectus dated April 29, 2016

The following replaces the table in "Fund Summary—Lazard International Strategic Equity Portfolio—Fees and Expenses" in the Prospectus:
 

Institutional Shares

Open
Shares

R6
Shares
Shareholder Fees (fees paid directly from your investment)
Redemption Fee (as a % of amount redeemed,
 on shares owned for 30 days or less)


1.00%


1.00%


1.00%
Annual Portfolio Operating Expenses (expenses that you pay each year as a
 percentage of the value of your investment)
      
Management Fees
.75%
.75%
.75%
Distribution and Service (12b-1) Fees
None
.25%
None
Other Expenses
.07%
.08%
.34%
Total Annual Portfolio Operating Expenses
.82%
1.08%
1.09%
Fee Waiver and Expense Reimbursement
—
—
.27%*
Total Annual Portfolio Operating Expenses After Fee Waiver and Expense
 Reimbursement

.82%

1.08%

.82%*
* To the extent the Total Annual Portfolio Operating Expenses of the R6 Shares of the Portfolio exceed the Total Annual Portfolio Operating Expenses of the Portfolio's Institutional Shares (in each case, not including management fees, custodial fees or other expenses related to the management of the Portfolio's assets), Lazard Asset Management LLC (the "Investment Manager") has contractually agreed, until May 1, 2017, to bear the expenses of the R6 Shares in the amount of such excess.  This agreement will terminate automatically in the event of termination of the Management Agreement between the Investment Manager and The Lazard Funds, Inc. (the "Fund"), on behalf of the Portfolio.
The following replaces "Fund Summary—Lazard International Strategic Equity Portfolio—Example" in the Prospectus:
This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then hold or redeem all of your shares at the end of those periods.  The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same, giving effect to the fee waiver and expense reimbursement arrangement in year one only.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:
 
1 Year
3 Years
5 Years
10 Years

Institutional Shares

$84

$262

$455

$1,014

Open Shares

$110

$343

$595

$1,317

R6 Shares

$84

$320

$575

$1,305

* * *
The following replaces the table in "Fund Summary—Lazard Emerging Markets Equity Portfolio—Fees and Expenses" in the Prospectus:
 

Institutional Shares

Open
Shares

R6
Shares
Shareholder Fees (fees paid directly from your investment)
Redemption Fee (as a % of amount redeemed,
 on shares owned for 30 days or less)


1.00%


1.00%


1.00%
Annual Portfolio Operating Expenses (expenses that you pay each year as a
 percentage of the value of your investment)
      
Management Fees
1.00%
1.00%
1.00%
Distribution and Service (12b-1) Fees
None
.25%
None
Other Expenses
.10%
.12%
.13%
Total Annual Portfolio Operating Expenses
1.10%
1.37%
1.13%
Fee Waiver and Expense Reimbursement
—
—
.03%*
Total Annual Portfolio Operating Expenses After Fee Waiver and Expense
 Reimbursement

1.10%

1.37%

1.10%*
* To the extent the Total Annual Portfolio Operating Expenses of the R6 Shares of the Portfolio exceed the Total Annual Portfolio Operating Expenses of the Portfolio's Institutional Shares (in each case, not including management fees, custodial fees or other expenses related to the management of the Portfolio's assets), the Investment Manager has contractually agreed, until May 1, 2017, to bear the expenses of the R6 Shares in the amount of such excess.  This agreement will terminate automatically in the event of termination of the Management Agreement between the Investment Manager and the Fund, on behalf of the Portfolio.
The following replaces "Fund Summary—Lazard Emerging Markets Equity Portfolio—Example" in the Prospectus:
This Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then hold or redeem all of your shares at the end of those periods.  The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same, giving effect to the fee waiver and expense reimbursement arrangement in year one only.  Although your actual costs may be higher or lower, based on these assumptions your costs would be:
 
1 Year
3 Years
5 Years
10 Years

Institutional Shares

$112

$350

$606

$1,340

Open Shares

$139

$434

$750

$1,646

R6 Shares

$112

$356

$619

$1,372

* * *
The following is added as the last paragraph of "Fund Management—Investment Manager" in the Prospectus:
In addition, to the extent the Total Annual Portfolio Operating Expenses of the R6 Shares of Lazard US Strategic Equity Portfolio, Lazard International Equity Portfolio, Lazard International Strategic Equity Portfolio, Lazard Emerging Markets Equity Portfolio, Lazard Emerging Markets Equity Blend Portfolio, Lazard Emerging Markets Multi Asset Portfolio or Lazard Emerging Markets Debt Portfolio exceed the Total Annual Portfolio Operating Expenses of the respective Portfolio's Institutional Shares (in each case, not including management fees, custodial fees or other expenses related to the management of the Portfolio's assets), the Investment Manager has contractually agreed, until May 1, 2017, to bear the expenses of the R6 Shares in the amount of such excess.  This agreement will terminate automatically in the event of termination of the Management Agreement between the Investment Manager and the Fund, on behalf of the Portfolio.


Dated:  May 11, 2016