Securities Act File No. 33-40682
Investment Company Act File No. 811-06312
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
| REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 | S | |
| Post-Effective Amendment No. 90 | S | |
and
| REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 | S | |
| Amendment No. 90 | S | |
(Check appropriate box or boxes)
THE LAZARD FUNDS, INC.
(Exact Name of Registrant as Specified in Charter)
(212) 632-6000
(Registrant’s Telephone Number, including Area Code)
30 Rockefeller Plaza, New York, New York 10112
(Address of Principal Executive: Number, Street, City, State, Zip Code)
Nathan A. Paul, Esq.
30 Rockefeller Plaza
New York, New York 10112
(Name and Address of Agent for Services)
Copy to:
Janna Manes, Esq.
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New York 10038-4982
It is proposed that this filing will become effective (check appropriate box)
| £ | immediately upon filing pursuant to paragraph (b) |
| £ | on (DATE) pursuant to paragraph (b) |
| S | 60 days after filing pursuant to paragraph (a)(1) |
| £ | on (DATE) pursuant to paragraph (a)(1) |
| £ | 75 days after filing pursuant to paragraph (a)(2) |
| £ | on (DATE) pursuant to paragraph (a)(2) of Rule 485. |
| If appropriate, check the following box: | |
| £ | this post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
Lazard Funds Prospectus
___________, 2014
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Lazard US Small Cap Equity Growth Portfolio |
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The Securities and Exchange Commission has not approved or disapproved the shares described in this Prospectus or determined whether this Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
Lazard Funds Table of Contents
2
Carefully review this important section for
2
information on the Portfolio’s investment
objective and fees and a summary of the
Portfolio’s principal investment strategies
and risks.
5
Additional Information About Principal Investment Strategies
and
Review this section for additional information
on the Portfolio’s principal investment
strategies and risks.
7
Review this section for details on the people and
7
organizations who oversee the Portfolio.
7
7
7
7
8
Review this section for details on how shares
8
are valued, how to purchase, sell and exchange
9
shares, related charges and payments of
11
dividends and distributions.
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13
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Where to learn more about the Portfolio. Prospectus1
Lazard Funds Summary Section Lazard US Small Cap Equity Growth Portfolio Investment Objective The Portfolio seeks long-term capital appreciation. Fees and Expenses This table describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio, a series of The Lazard Funds, Inc. (the “Fund”).
Institutional
Open
R6
Shareholder Fees (fees paid directly from your investment)
1.00%
1.00%
1.00%
Annual Portfolio Operating Expenses (expenses that you pay each year as a
Management Fees
.90%
.90%
.90%
Distribution and Service (12b-1) Fees
None
.25%
None
Other Expenses*
.17%
.22%
.17%
Total Annual Portfolio Operating Expenses
1.07%
1.37%
1.07%
Fee Waiver and Expense Reimbursement**
—%
—%
.02%
Total Annual Portfolio Operating Expenses After Fee Waiver and Expense Reimbursement**
1.07%
1.37%
1.05%
*
“Other Expenses” are based on estimated amounts for the current fiscal year.
**
Reflects a contractual agreement by Lazard Asset Management LLC (the “Investment Manager”) to waive its fee and, if necessary, reimburse the Portfolio through August 29, 2016 to the extent Total Annual Portfolio Operating Expenses exceed 1.10%, 1.40% and 1.05% of the average daily net assets of the Portfolio’s Institutional Shares, Open Shares and R6 Shares, respectively, exclusive of
taxes, brokerage, interest on borrowings, fees and expenses of “Acquired Funds” and extraordinary expenses, and excluding shareholder redemption fees or other transaction fees. This agreement can only be amended by agreement of the Fund, upon approval by the Fund’s Board of Directors (the “Board”), and the Investment Manager to lower the net amount shown and will terminate
automatically in the event of termination of the Investment Management Agreement between the Investment Manager and the Fund, on behalf of the Portfolio. Example 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 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 described above. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
1 Year
3 Years Institutional Shares $109 $340 Open Shares $139 $434 R6 Shares $107 $336 Portfolio Turnover The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Portfolio shares are held in a taxable account. These costs, which are not reflected
in annual portfolio operating expenses or in the Example, affect the Portfolio’s performance. Because the Portfolio had not commenced investment operations prior to the date of this Prospectus, no portfolio turnover information is presented. 2Prospectus
Shares
Shares
Shares
Maximum Redemption Fee (as a % of amount redeemed,
on shares owned for 30 days or less)
percentage of the value of your investment)
Principal Investment Strategies The Portfolio invests primarily in equity securities, principally common stocks, of small cap US companies that the Investment Manager believes have strong earnings growth potential. The Investment Manager considers "small cap companies" to be those companies that, at the time of initial purchase by the
Portfolio, have market capitalizations within the range of companies included in the Russell 2000 Growth Index (ranging from approximately $___ million to $___ billion as of [June] __, 2014). Under normal circumstances, the Portfolio invests at least 80% of its assets in equity securities of small cap US companies. The Investment Manager pursues a bottom-up strategy that blends quantitative and qualitative analysis to find growth companies with superior earnings prospects, reasonable valuations and favorable trading-volume and price patterns. The Portfolio may invest up to 20% of its assets in securities of larger US or non-US companies. When the Investment Manager determines that adverse market conditions exist, the Portfolio may adopt a temporary defensive position and invest some or all of its assets in money market instruments. In pursuing a temporary defensive strategy, the Portfolio may forgo potentially more profitable investment
strategies and, as a result, may not achieve its stated investment objective. Principal Investment Risks The value of your investment in the Portfolio will fluctuate, which means you could lose money. Market Risk. Market risks, including political, regulatory, market and economic developments, and developments that impact specific economic sectors, industries or segments of the market, can affect the value of the Portfolio’s investments. In addition, turbulence in financial markets and reduced liquidity in
equity, credit and/or fixed income markets may negatively affect many issuers, which could adversely affect the Portfolio. Issuer Risk. The value of a security may decline for a number of reasons which directly relate to the issuer, such as management performance, financial leverage and reduced demand for the issuer’s goods or services, as well as the historical and prospective earnings of the issuer and the value of its assets or
factors unrelated to the issuer’s value, such as investor perception. Style Risk. The Portfolio invests in stocks believed by the Investment Manager to have the potential for growth, but that may not realize such perceived potential for extended periods of time or may never realize such perceived growth potential. Such stocks may be more volatile than other stocks because they
can be more sensitive to investor perceptions of the issuing company’s growth potential. The stocks in which the Portfolio invests may respond differently to market and other developments than other types of stocks. Small Cap Companies Risk. Small cap companies carry additional risks because their earnings tend to be less predictable, their share prices more volatile and their securities less liquid than larger, more established companies. The shares of small cap companies tend to trade less frequently than those of larger
companies, which can have an adverse effect on the pricing of these securities and on the ability to sell these securities when the Investment Manager deems it appropriate. Non-US Securities Risk. The Portfolio’s performance will be influenced by political, social and economic factors affecting the non-US countries and companies in which the Portfolio invests. Non-US securities carry special risks, such as less developed or less efficient trading markets, political instability, a lack
of company information, differing auditing and legal standards, and, potentially, less liquidity. In addition, investments denominated in currencies other than US dollars may experience a decline in value, in US dollar terms, due solely to fluctuations in currency exchange rates. Emerging market countries can
generally have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. Performance Bar Chart and Table Because the Portfolio had not commenced investment operations prior to the date of this Prospectus, no performance returns are presented. Annual performance returns provide some indication of the risks of investing in the Portfolio by showing changes in performance from year to year. Comparison of
Portfolio performance to an appropriate index indicates how the Portfolio’s average annual returns compare with those of a broad measure of market performance. After the Portfolio commences investment operations, performance information will be available at www.LazardNet.com or by calling (800) 823-6300.
The Portfolio’s past performance (before and after taxes) is not necessarily an indication of how the Portfolio will perform in the future. Prospectus3
Management Investment Manager Lazard Asset Management LLC Portfolio Manager/Analyst Frank L. Sustersic,
portfolio manager/analyst on the Investment Manager’s US Small Cap Equity Growth team and various other US Equity teams, has
been with the Portfolio since August 2014. Purchase and Sale of Portfolio Shares The initial investment minimums are: Institutional Shares
$
100,000 Open Shares*
$
2,500 R6 Shares**
$
1,000,000
*
Unless the investor is a client of a securities dealer or other institution which has made an aggregate minimum initial purchase for its clients of at least $2,500 for Open Shares.
**
There is no minimum investment amount for R6 Shares purchased by certain types of employee benefit plans and individuals considered to be affiliates of the Fund or the Investment Manager, discretionary accounts with the Investment Manager and affiliated and non-affiliated registered investment companies.
The subsequent investment minimum for Institutional Shares and Open Shares is $50. Portfolio shares are redeemable through the Fund’s transfer agent, Boston Financial Data Services, Inc. (the “Transfer Agent”), on any business day by telephone, mail or overnight delivery. Clients of financial intermediaries may be subject to the intermediaries’ procedures. Tax Information All dividends and short-term capital gains distributions are generally taxable to you as ordinary income, and long-term capital gains are generally taxable as such, whether you receive the distribution in cash or reinvest it in additional shares. Financial Intermediary Compensation If you purchase shares of the Portfolio through a broker-dealer or other financial intermediary (such as a bank), the Portfolio and/or the Investment Manager and its affiliates may pay the intermediary for the sale of Portfolio shares and related services (except for R6 Shares, for which neither the Fund nor the
Investment Manager or its affiliates provide any distribution, shareholder or participant servicing, account maintenance, sub-accounting, sub-transfer agency, administrative, recordkeeping or reporting, transaction processing, support or similar payments, or “revenue sharing” payments, in connection with
investments in, or conversions into, R6 Shares). These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Portfolio over another investment. Ask your salesperson or visit your financial intermediary’s website for more
information. 4Prospectus
Payments to Broker-Dealers and Other Financial Intermediaries
Lazard Funds Additional Information About Principal Investment Strategies and Principal Investment Risks The Fund consists of thirty separate Portfolios, one of which is described in this Prospectus. Because you could lose money by investing in the Portfolio, be sure to read all risk disclosures carefully before investing. The Portfolio has adopted a policy to invest at least 80% of its assets in specified securities appropriate to its name and to provide its shareholders with at least 60 days’ prior notice of any change with respect to this policy. The Portfolio’s investment objective may only be changed with at least 60 days’ prior notice to shareholders. Additional Information About Principal Investment Strategies The following information supplements, and should be read together with, the information about the Portfolio’s principal investment strategies contained in the “Summary Section.” The Portfolio invests primarily in equity securities, including common stocks, preferred stocks and convertible securities, of small cap US companies that the Investment Manager believes have strong earnings growth potential. Because “small cap companies” are defined in part by reference to an index, the market capitalization
of companies in which the Portfolio invests may vary with market conditions. The Investment Manager is not required to sell a company’s securities from the Portfolio’s holdings when the capitalization of that company increases such that the company no longer meets the definition of a “small cap company.” A security may become a sell candidate if the Investment Manager detects deterioration in the company’s earnings growth potential. The Investment Manager may also sell a Portfolio’s position in an effort to adhere to capitalization or other portfolio constraints, or to adjust position in size relative to the Russell
2000 Growth Index. The Portfolio considers a company or issuer to be a “US company” or “US issuer” or a security to be “tied economically to the US” if: (i) the company/issuer is organized under the laws of the US or maintains its principal place of business in the US; (ii) the security, or security of such company/issuer, is
traded principally in the US; or (iii) during the most recent fiscal year of the company/issuer, the company/issuer derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in the US or that has at least 50% of its assets in the US. Additional Information About Principal Investment Risks The following information supplements, and should be read together with, the information about the Portfolio’s principal investment risks contained in the “Summary Section.” Foreign Currency Risk. Investments denominated in currencies other than US dollars may experience a decline in value, in US dollar terms, due solely to fluctuations in currency exchange rates. The Investment Manager does not intend to actively hedge the Portfolio’s foreign currency exposure. Emerging Market Risk. Emerging market countries can generally have economic structures that are less diverse and mature, and political systems that are less stable, than those of developed countries. The economies of countries with emerging markets may be based predominantly on only a few industries, may
be highly vulnerable to changes in local or global trade conditions, and may suffer from extreme debt burdens or volatile inflation rates. The securities markets of emerging market countries have historically been extremely volatile. Capital markets worldwide have experienced unprecedented volatility in recent
years, causing significant declines in valuation and liquidity in certain emerging markets. These market conditions may continue or worsen. Investments in these countries may be subject to political, economic, legal, market and currency risks. The risks may include less protection of property rights and uncertain
political and economic policies, the imposition of capital controls Prospectus5
and/or foreign investment limitations by a country, nationalization of businesses and the imposition of sanctions by other countries, such as the US. Significant devaluation of emerging market currencies against the US dollar may occur subsequent to acquisition of investments denominated in emerging market
currencies. IPO Shares Risk. Because IPO shares frequently are volatile in price, the Portfolio may hold IPO shares for a very short period of time, increasing the Portfolio’s portfolio turnover rate. Securities Selection Risk. Securities and other investments selected by the Investment Manager for the Portfolio may not perform to expectations. This could result in the Portfolio’s underperformance compared to other funds with similar investment objectives or strategies. You should be aware that the Portfolio:
•
is not a bank deposit
•
is not guaranteed, endorsed or insured by any bank, financial institution or government entity, such as the Federal Deposit Insurance Corporation
•
is not guaranteed to achieve its stated goals 6Prospectus
Lazard Funds Fund Management Lazard Asset Management LLC, 30
Rockefeller Plaza, New York, New York 10112-6300, serves as the Investment Manager of the Portfolio. The Investment Manager
provides day-to-day management of the Portfolio’s investments and assists in the overall management of the Fund’s
affairs. The Investment Manager and its global affiliates provide investment management services to client discretionary
accounts with assets totaling approximately $189 billion as of March 31, 2014. Its clients are both individuals and
institutions, some of whose accounts have investment policies similar to those of several of the Portfolio. The Fund has agreed to pay the Investment Manager an investment management fee at the annual rate of .90% of the Portfolio’s average daily net assets. The investment management fee is accrued daily and paid monthly. A discussion regarding the basis for the approval of the investment management agreement between the Fund, on behalf of the Portfolio, and the Investment Manager will be available in the Portfolio’s annual report to shareholders for the year ending December 31, 2014. The Investment Manager manages the Portfolio on a team basis. The team is involved in all levels of the investment process. This team approach allows for every portfolio manager to benefit from the views of his or her peers. The portfolio management team is comprised of multiple team members. Although
their roles and the contributions they make may differ, each member of the team participates in the management of the Portfolio. Members of the portfolio management team discuss the portfolio, including making investment recommendations, overall portfolio composition, and the like. Research analysts
perform fundamental research on issuers (based on, for example, sectors or geographic regions) in which the Portfolio may invest. Frank L. Sustersic is primarily responsible for the day-to-day management of the assets of the Portfolio since August 2014. Biographical Information of Principal Portfolio Manager Frank L. Sustersic, a
Director of the Investment Manager, is a portfolio manager/analyst on the Investment Manager’s US Small Cap
Equity Growth team and various other US Equity teams. Prior to joining the Investment Manager in 2014, Mr. Sustersic was a senior
portfolio manager/global security analyst and principal at Turner Investments and a portfolio manager at First Fidelity
Corporation. He began working in the investment field in 1989, and is a Chartered Financial Analyst Charterholder. Additional information about the portfolio manager’s compensation, other accounts managed by the portfolio manager and the portfolio manager’s ownership of shares of the Portfolio is contained in the Fund’s Statement of Additional Information (“SAI”). State Street Bank and Trust Company (“State Street”), located at One Lincoln Street, Boston, Massachusetts 02111, serves as the Portfolio’s administrator. Lazard Asset Management Securities LLC (the “Distributor”) acts as distributor for the Fund’s shares. State Street acts as custodian of the Portfolio’s investments. State Street may enter into subcustodial arrangements on behalf of the Portfolio for the holding of non-US securities. Prospectus7
Lazard Funds Shareholder Information Portfolio shares are sold and redeemed, without a sales charge, on a continuous basis at the net asset value (“NAV”) next determined after an order in proper form is received by the Transfer Agent or another authorized entity. The Fund determines the NAV of the Portfolio’s share Classes as of the close of regular session trading on the New York Stock Exchange (the “NYSE”) (normally 4:00 p.m. Eastern time) on each day the NYSE is open for trading. The Fund values securities for which market quotations are readily available at
market value. Securities and other assets for which current market quotations are not readily available are valued at fair value as determined in good faith in accordance with procedures approved by the Board. Calculation of NAV may not take place contemporaneously with the determination of the prices of portfolio assets used in such calculation. If a significant event materially affecting the value of securities occurs between the close of the exchange or market on which the security is principally traded and the time
when NAV is calculated, or when current market quotations otherwise are determined not to be readily available or reliable, such securities will be valued at their fair value as determined by, or in accordance with procedures approved by, the Board. The fair value of non-US securities may be determined with
the assistance of an independent pricing service using correlations between the movement of prices of such securities and indices of US securities and other appropriate indicators, such as closing market prices of relevant American Depositary Receipts or futures contracts. The effect of using fair value pricing is
that the NAV will reflect the affected securities’ values as determined in the judgment of the Board or its designee instead of being determined by the market. Using a fair value pricing methodology to price securities may result in a value that is different from the most recent closing price of a security and
from the prices used by other investment companies to calculate their portfolios’ NAVs. Non-US securities may trade on days when the Portfolio is not open for business, thus affecting the value of the Portfolio’s assets on days when Portfolio shareholders may not be able to buy or sell Portfolio shares. Eligibility to Purchase R6 Shares The Portfolio does not currently offer R6 Shares. R6 Shares are not subject to any service or distribution fees. Neither the Fund nor the Investment Manager or its affiliates will provide any distribution, shareholder or participant servicing, account maintenance, sub-accounting, sub-transfer agency, administrative, recordkeeping or reporting, transaction processing,
support or similar payments, or “revenue sharing” payments, in connection with investments in, or conversions into, R6 Shares (collectively, “Service Payments”). R6 Shares may be purchased by: “Employee Benefit Plans,” which shall include:
•
retirement plan level, retirement plan administrator level or omnibus accounts;
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retirement plans—employer-sponsored 401(k) and 403(b), 457, Keogh, profit sharing, money purchase, defined benefit/defined contribution, target benefit and Taft-Hartley plans;
•
non-qualified deferred compensation plans; and
•
post-employment benefit plans, including retiree health benefit plans. Employee Benefit Plans, Board members and other individuals considered to be affiliates of the Fund or the Investment Manager, and discretionary accounts with the Investment Manager, as well as affiliated and non-affiliated registered investment companies may purchase R6 Shares with no investment
minimum. Certain other types of plans, and institutional or other investors, may be eligible to purchase R6 Shares, subject to the minimum investment amount set forth below, including, but not limited to:
•
529 plans;
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endowments and foundations;
•
states, counties or cities or their instrumentalities;
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insurance companies, trust companies and bank trust departments; and
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certain other institutional investors. Except as specifically provided above, R6 Shares may not be purchased by:
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individual investors and/or retail accounts including accounts purchasing through wrap programs;
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IRAs and Coverdells;
•
SEPs, SIMPLEs and SARSEPs; and 8Prospectus
•
individual 401(k) and 403(b) plans. Minimum Investment All purchases made by check should be in US Dollars and made payable to “The Lazard Funds, Inc.” Third party checks will not be accepted. The Fund will not accept cash or cash equivalents (such as currency, money orders or travelers checks) for the purchase of Fund shares. Please note the following
minimums in effect for initial investments: Institutional Shares
$
100,000 Open Shares*
$
2,500 R6 Shares**
$
1,000,000
*
Unless the investor is a client of a securities dealer or other institution which has made an aggregate minimum initial purchase for its clients of at least $2,500 for Open Shares.
**
There is no minimum investment amount for R6 Shares purchased by Employee Benefit Plans and certain other eligible investors as described above. The subsequent investment minimum for Institutional Shares and Open Shares is $50. The minimum investment requirements may be waived or lowered for investments effected through banks and other institutions that have entered into arrangements with the Fund or the Distributor; for investments effected on a group basis by certain other entities and their employees, such as pursuant to a
payroll deduction plan and asset-based or wrap programs; and for employees of the Investment Manager and their families. Please consult your financial intermediary for information about minimum investment requirements. The Fund reserves the right to change or waive the minimum initial, and subsequent,
investment requirements at any time. Through the Transfer Agent: Shareholders who do not execute trades through a broker-dealer or other financial intermediary should submit their purchase requests to the Transfer Agent by telephone or mail, as follows: Initial Purchase By Mail
1.
Complete a Purchase Application. Indicate the services to be used.
2.
Send the Purchase Application and a check for at least the minimum investment amount (if applicable) payable to “The Lazard Funds, Inc.” to: regular mail overnight delivery By Wire Your bank may charge you a fee for this service.
1.
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the Portfolio(s) and Class of shares to be invested in
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name(s) in which shares are to be registered
•
address
•
social security or tax identification number
•
dividend payment election
•
amount to be wired
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name of the wiring bank, and
•
name and telephone number of the person to be contacted in connection with the order. An account number will then be assigned.
2. ABA #: 011000028
3.
Complete a Purchase Application. Indicate the services to be used. Mail the Purchase Application to the address set forth in Item 2 under “Initial Purchase–By Mail” above. Prospectus9
The Lazard Funds, Inc.
P.O. Box 8514
Boston, Massachusetts 02266-8514
Attention: (Name of Portfolio and Class of Shares)
The Lazard Funds, Inc.
30 Dan Road
Canton, Massachusetts 02021-2809
Call (800) 986-3455 toll-free from any state and provide the following:
Instruct the wiring bank to transmit the specified amount in federal funds, giving the wiring bank the account name(s) and assigned account number, to State Street:
State Street Bank and Trust Company
Boston, Massachusetts
Custody and Shareholder Services Division
DDA 9905-2375
Attention: (Name of Portfolio and Class of Shares)
The Lazard Funds, Inc.
Shareholder’s Name and Account Number
Additional Purchases By Mail
1.
Make a check payable to “The Lazard Funds, Inc.” Write the shareholder’s account number on the check.
2.
Mail the check and the detachable stub from the Statement of Account (or a letter providing the account number) to the address set forth in Item 2 under “Initial Purchase–By Mail” above. By Wire Instruct the wiring bank to transmit the specified amount in federal funds to State Street, as instructed in Item 2 under “Initial Purchase–By Wire” above. By ACH Shareholders may purchase additional shares of the Portfolio by automated clearing house (“ACH”). To set up the ACH purchases option, call (800) 986-3455. ACH is similar to making Automatic Investments (described below under “Shareholder Information—Investor Services—Automatic Investments”), except
that shareholders may choose the date on which to make the purchase. The Fund will need a voided check or deposit slip before shareholders may purchase by ACH. By Exchange Shareholders may purchase additional shares of the Portfolio by exchange from another Portfolio, as described below under “Shareholder Information—Investor Services—Exchange Privilege.” Purchases through the Automatic Investment Plan (Open Shares only) Investors may participate in the Automatic Investment Plan by making subsequent investments in the Portfolio through automatic deductions from a designated bank account at regular intervals selected by the investor. The Automatic Investment Plan enables an investor to make regularly scheduled investments
and may provide investors with a convenient way to invest for long-term financial goals. To enroll in the Automatic Investment Plan, call (800) 986-3455. Individual Retirement Accounts The Fund may be used as an investment for IRAs. Completion of a Lazard Funds IRA application is required. For a Direct IRA Account (an account other than an IRA rollover) a $5 establishment fee and a $15 annual maintenance and custody fee is payable to State Street for each IRA Fund account; in
addition, a $10 termination fee will be charged and paid to State Street when the account is closed. For more information on IRAs, call (800) 986-3455. Market Timing/Excessive Trading The Portfolio is intended to be a long-term investment vehicle and is not designed to provide investors with a means of speculating on short-term market movements. Excessive trading, market timing or other abusive trading practices may disrupt investment management strategies and harm performance and
may create increased transaction and administrative costs that must be borne by the Portfolio and its shareholders, including those not engaged in such activity. In addition, such activity may dilute the value of Portfolio shares held by long-term investors. The Fund’s Board has approved policies and procedures
with respect to frequent purchases and redemptions of Portfolio shares that are intended to discourage and prevent these practices, including regular monitoring of trading activity in Portfolio shares. The Fund will not knowingly accommodate excessive trading, market timing or other abusive trading practices. The Fund routinely reviews Portfolio share transactions and seeks to identify and deter abusive trading practices. The Fund monitors for transactions that may be harmful to the Portfolio, either on an individual basis or as part of a pattern of abusive trading practices. The Portfolio reserves the right to refuse, with
or without notice, any purchase or exchange request that could adversely affect the Portfolio, its operations or its shareholders, including those requests from any individual or group who, in the Fund’s view, is likely to engage in excessive trading, market timing or other abusive trading practices, and where a
particular account appears to be engaged in abusive trading practices, the Fund will seek to restrict future purchases of Portfolio shares by that account or may temporarily or permanently terminate the availability of the exchange privilege, or reject in whole or part any exchange request, with respect to such
investor’s account. When an exchange request in respect of Portfolio shares is rejected, such shares may be redeemed from the Portfolio on request of the investor. The Fund may deem a shareholder to be engaged in abusive trading practices without advance notice and based on information unrelated to the
specific trades in the shareholder’s 10Prospectus
(Minimum $50)
(Open Shares and Institutional Shares only)
account. For instance, the Fund may determine that the shareholder’s account is linked to another account that was previously restricted or a third party intermediary may provide information to the Fund with respect to a particular account that is of concern to the Fund. Accounts under common ownership,
control or perceived affiliation may be considered together for purposes of determining a pattern of excessive trading practices. An investor who makes more than six exchanges per Portfolio during any twelve-month period, or who makes exchanges that appear to coincide with a market timing strategy, may be
deemed to be engaged in excessive trading. In certain cases, the Fund may deem a single “roundtrip” trade or exchange (redeeming or exchanging the Portfolio’s shares followed by purchasing or exchanging into shares of that Portfolio) as a violation of the Fund’s policy against abusive trading practices. The
Fund’s actions may not be subject to appeal. The Portfolio deducts a 1.00% redemption fee on sales of shares owned for 30 days or less (not charged on shares acquired through reinvestment of dividends or distributions), except that no redemption fee will be charged with respect to shares purchased through certain omnibus account and other service
arrangements established by certain brokers and other financial intermediaries and approved by the Distributor and under certain other circumstances. See “Shareholder Information—How to Sell Shares—Redemption Fee” below. Redemption fees are only one way for the Fund to deter abusive trading practices. To discourage attempts to arbitrage pricing of international securities (among other reasons), the Board has adopted policies and procedures providing that if events materially affecting the value of securities occur between the close
of the exchange or market on which the security is principally traded and the time when the Portfolio’s NAV is calculated, such securities will be valued at their fair value as determined by, or in accordance with procedures approved by, the Board. See “Shareholder Information—General.” The codes of ethics of
the Fund, the Investment Manager and the Distributor in respect of personal trading contain limitations on trading in Portfolio shares. As described below, the Fund may take up to seven days to pay redemption proceeds. This may occur when, among other circumstances, the investor redeeming shares is engaged in excessive trading or if the redemption request otherwise would be disruptive to efficient portfolio management or would otherwise
adversely affect the Portfolio. All of the policies described in this section apply uniformly to all Portfolio accounts. However, while the Fund and the Investment Manager will take reasonable steps to prevent trading practices deemed to be harmful to the Portfolio by monitoring Portfolio share trading activity, they may not be able to
prevent or identify such trading. If the Fund is not able to prevent abusive trading practices, such trading may disrupt investment strategies, harm performance and increase costs to all Portfolio investors, including those not engaged in such activity. The Fund’s policy on abusive trading practices does not apply
to automatic investment or automatic exchange privileges. Securities trading in non-US markets are particularly susceptible to time zone arbitrage. As a result, the Portfolio may be at greater risk for market timing than funds that invest in securities trading in US markets. Distribution and Servicing Arrangements The Portfolio offers Institutional Shares and Open Shares and may in the future offer R6 Shares. Each share class has different investment minimums and different expense ratios. The Fund has adopted a plan under rule 12b-1 (the “12b-1 plan”) that allows the Portfolio to pay the Distributor a fee, at the
annual rate of .25% of the value of the average daily net assets of the Portfolio’s Open Shares, for distribution and services provided to holders of Open Shares. Because these fees are paid out of the Portfolio’s assets on an on-going basis, over time these recurring fees will increase the cost of your investment
and may cost you more than paying other types of sales charges. Institutional Shares and R6 Shares do not pay a rule 12b-1 fee. Third parties may receive payments pursuant to the 12b-1 plan. The Investment Manager or the Distributor may provide additional cash payments out of its own resources to financial intermediaries that sell shares and/or provide marketing, shareholder servicing, account administration or other services with respect to Open Shares and Institutional Shares. Such payments are
in addition to any fees paid by the Fund under rule 12b-1. The receipt of such payments pursuant to the 12b-1 plan or from the Prospectus11
Investment Manager or Distributor could create an incentive for the third parties to offer the Portfolio instead of other mutual funds where such payments are not received. Further information is contained in the SAI, and you should consult your financial intermediary for further details. General Checks for sale proceeds ordinarily will be mailed within seven days. Where the shares to be sold have been purchased by check or through the Automatic Investment Plan, the sale proceeds, net of any applicable redemption fee, will be transmitted to you promptly upon bank clearance of your purchase check,
which may take up to 10 calendar days. Redemption requests also may be satisfied, in whole or in part, through a redemption-in-kind (a payment in portfolio securities instead of cash). Redemption Fee The Portfolio will impose a redemption fee equal to 1.00% of the NAV of Portfolio shares acquired by purchase or exchange and redeemed or exchanged within 30 days after such shares were acquired. This fee will be calculated based on the shares’ NAV at redemption and deducted from the redemption
proceeds. The fee will be retained by the Portfolio and used primarily to offset the transaction costs that short-term trading imposes on the Portfolio and its remaining shareholders. The redemption fee will not apply to shares acquired through the reinvestment of dividends or distributions. For purposes of
calculating the 30-day holding period, the Fund will first redeem shares acquired through the reinvestment of dividends or distributions and then will employ the “first in, first out” method, which assumes that the shares redeemed or exchanged are the ones held the longest. The Fund, in its discretion, may waive or reverse the redemption fee for Portfolio shares redeemed or exchanged: (1) through systematic, rebalancing or asset allocation programs, in which beneficial owners of Portfolio shares or participants in Employee Benefit Plans owning Portfolio shares do not exercise
investment discretion, that have been approved by the Distributor; (2) in connection with the Fund’s Systematic Withdrawal Plan, described below; (3) by a fund-of-funds; (4) involuntarily, such as a redemption resulting from failure to maintain a minimum investment or due to a Portfolio merger or liquidation;
(5) in connection with a conversion from one share class to another share class of the same Portfolio; (6) in the event of shareholder death or post-purchase disability; (7) to return an excess contribution in an IRA or qualified plan account; (8) in connection with required minimum distributions from an IRA
or qualified plan account; (9) in programs with financial intermediaries that include on their platforms qualified default investment alternatives for participant-directed individual account plans (with respect to which Department of Labor regulations restrict the imposition of redemption fees and similar fees) and
where adequate systems designed to deter abusive trading practices are in place; (10) by certain accounts under situations deemed appropriate by the Fund, including where the capability to charge a fee does not exist or is not practical and where adequate systems designed to deter abusive trading practices are in
place; or (11) in the event of transactions documented as inadvertent or prompted by bona fide emergencies or other exigent circumstances. In certain situations, a financial intermediary, wrap sponsor or other omnibus account holder may apply the Portfolio’s redemption fees to the accounts of their underlying
shareholders. If this is the case, the Portfolio will rely in part on the account holder to monitor and assess the redemption fee on the underlying shareholder accounts in accordance with this Prospectus. The redemption fee may be waived, modified or terminated at any time, or from time to time, without
advance notice. Selling Shares Through the Transfer Agent: Shareholders who do not execute trades through a broker-dealer or other financial intermediary should submit their sale requests to the Transfer Agent by telephone or mail, as follows: By Telephone A shareholder may redeem shares by calling the Transfer Agent. To redeem shares by telephone, the shareholder must have properly completed and submitted to the Transfer Agent either a Purchase Application authorizing such redemption or a signed letter requesting that the telephone redemption privilege be
added to the account. To place a redemption request, or to have the telephone redemption privilege added to your account, please call the Transfer Agent’s toll-free number, (800) 986-3455. In order to confirm that telephone instructions for redemptions are genuine, the Fund has established reasonable
procedures to be employed by the Fund and 12Prospectus
the Transfer Agent, including the requirement that a form of personal identification be provided. By Mail
1.
Write a letter of instruction to the Fund. Indicate the dollar amount or number of shares to be sold, the Portfolio and Class, the shareholder’s account number, and social security or taxpayer identification number.
2.
Sign the letter in exactly the same way the account is registered. If there is more than one owner of the account, all must sign.
3.
If shares to be sold have a value of $50,000 or more, the signature(s) must be guaranteed by a domestic bank, savings and loan institution, domestic credit union, member bank of the Federal Reserve System, broker-dealer, registered securities association or clearing agency, or other participant in a signature
guarantee program. Signature guarantees by a notary public are not acceptable. Further documentation may be requested to evidence the authority of the person or entity making the redemption request. In addition, all redemption requests that include instructions for redemption proceeds to be sent somewhere
other than the address on file must be signature guaranteed.
4.
Send the letter to the Transfer Agent at the following address: regular mail overnight delivery Automatic Reinvestment Plan allows your dividends and capital gain distributions to be reinvested in additional shares of your Portfolio or another Portfolio. Automatic Investment Plan allows you to purchase Open Shares through automatic deductions from a designated bank account. Systematic Withdrawal Plan allows you to receive payments at regularly scheduled intervals if your account holds at least $10,000 in Portfolio shares at the time plan participation begins. The maximum regular withdrawal amount for monthly withdrawals is 1% of the value of your Portfolio shares at the
time plan participation begins. Exchange Privilege allows you to exchange shares of one Portfolio that have been held for seven days or more for shares of the same Class of another Portfolio in an identically registered account. Shares will be exchanged at the next determined NAV, subject to any applicable redemption fee. There is no
other cost associated with this service. All exchanges are subject to the minimum initial investment requirements. A shareholder may exchange shares by writing or calling the Transfer Agent. To exchange shares by telephone, the shareholder must have properly completed and submitted to the Transfer Agent either a Purchase Application authorizing such exchanges or a signed letter requesting that the exchange privilege be
added to the account. The Transfer Agent’s toll-free number for exchanges is (800) 986-3455. In order to confirm that telephone instructions for exchanges are genuine, the Fund has established reasonable procedures to be employed by the Fund and the Transfer Agent, including the requirement that a form of
personal identification be provided. The Fund reserves the right to limit the number of times shares may be exchanged between Portfolios, to reject any telephone exchange order, or to otherwise modify or discontinue the exchange privilege at any time. If an exchange request is refused, the Fund will take no other action with respect to the shares
until it receives further instructions from the investor. See “Shareholder Information—How to Buy Shares—Market Timing/ Excessive Trading” for more information about restrictions on exchanges. In addition to the policies described above, the Fund reserves the right to:
•
redeem an account, with notice, if the value of the account falls below $1,000 due to redemptions
•
convert Institutional Shares or R6 Shares held by a shareholder whose account is less than $100,000 to Open Shares, upon written notice to the shareholder
•
suspend redemptions or postpone payments when the NYSE is closed for any reason other than its usual weekend or holiday closings or when trading is Prospectus13
The Lazard Funds, Inc.
P.O. Box 8514
Boston, Massachusetts 02266-8514
Attention: (Name of Portfolio and Class of Shares)
The Lazard Funds, Inc.
30 Dan Road
Canton, Massachusetts 02021-2809
restricted by the Securities and Exchange Commission (the “SEC”)
•
change or waive the required minimum investment amounts
•
delay sending out redemption proceeds for up to seven days (this usually applies to very large redemptions received without notice, excessive trading, or during unusual market conditions)
•
make a redemption-in-kind (a payment in portfolio securities instead of in cash) if it is determined that a redemption is too large and/or may cause harm to the Portfolio and its shareholders Also in addition to the policies described above, the Fund may refuse or restrict purchase or exchange requests for Portfolio shares by any person or group if, in the judgment of the Fund’s management:
•
the Portfolio would be unable to invest the money effectively in accordance with its investment objective and policies or could otherwise be adversely affected
•
the Portfolio receives or anticipates receiving simultaneous orders that may significantly affect the Portfolio (e.g., amounts equal to 1% or more of the Portfolio’s total assets) The Fund also reserves the right to close the Portfolio to investors at any time. Account Policies, Dividends and Taxes Account Statements You will receive quarterly statements detailing your account activity. All investors will also receive an annual statement detailing the tax characteristics of any dividends and distributions that you have received in your account. You will also receive confirmations of each trade executed in your account. To reduce expenses, only one copy of the most recent annual and semi-annual reports of the Fund may be mailed to your household, even if you have more than one account with the Fund. Call (800) 542-1061 if you need additional copies of annual or semi-annual reports. Call the Transfer Agent at the
telephone number listed on the back cover if you need account information. Dividends and Distributions Income and capital gains distributions, if any, are normally distributed annually but may be distributed more frequently. Annual year end distribution estimates are expected to be available on or about November 14, 2014 at www.LazardNet.com or by calling (800) 823-6300. Estimates for any “spillback” distributions
(income and/or net capital gains from the 2013 fiscal year that were not distributed by December 31, 2013) are available at www.LazardNet.com or by calling (800) 823-6300. Dividends and distributions of the Portfolio will be reinvested in additional shares of the same Class of the Portfolio at the NAV on the ex-dividend date, and credited to the shareholder’s account on the payment date or, at the shareholder’s election, paid in cash. Each share Class of the Portfolio will generate a
different dividend because each has different expenses. Dividend checks and account statements will be mailed approximately two business days after the payment date. Tax Information Please be aware that the following tax information is general and refers to the provisions of the Internal Revenue Code of 1986, as amended, which are in effect as of the date of this Prospectus. You should consult a tax adviser about the status of your distributions from your Portfolio. All dividends and short-term capital gains distributions are generally taxable to you as ordinary income, and long-term capital gains are generally taxable as such, whether you receive the distribution in cash or reinvest it in additional shares. An exchange of the Portfolio’s shares for shares of another Portfolio will
be treated as a sale of the Portfolio’s shares, and any gain on the transaction may be subject to income taxes. Keep in mind that distributions may be taxable to you at different rates which depend on the length of time the Portfolio held the applicable investment, not the length of time that you held your Portfolio shares. The tax status of any distribution is the same regardless of how long you have been in the
Portfolio and whether you reinvest your distributions or take them in cash. High portfolio turnover and more volatile markets can result in taxable distributions to shareholders, regardless of whether their shares increased in value. When you do sell your Portfolio shares, you will have a taxable capital gain or
loss, unless such shares were held in an IRA or other tax-deferred account. 14Prospectus
Federal law requires the Portfolio to withhold taxes on distributions paid to shareholders who:
•
fail to provide a social security number or taxpayer identification number
•
fail to certify that their social security number or taxpayer identification number is correct
•
fail to certify, or otherwise establish in accordance with applicable law, that they are exempt from withholding Prospectus15
Lazard Funds Financial Highlights No financial highlights are presented for the Portfolio because it had not commenced investment operations prior to December 31, 2013. 16Prospectus
For more information about the Portfolio, the following documents are available, free of charge, upon request: Annual and Semi-Annual Reports (Reports): The Fund’s annual and semi-annual reports to shareholders contain additional information on the Portfolio’s investments. In the annual report, you will find a broad discussion of the market conditions and investment strategies that significantly affected the Portfolio’s performance during its last fiscal year. Statement of Additional Information (SAI): The SAI provides more detailed information about the Portfolio, including its operations and investment policies. It is incorporated by reference and is legally considered a part of this Prospectus. Disclosure of Portfolio Holdings: The Portfolio will publicly disclose its portfolio holdings on a calendar quarter-end basis on its website accessible from http://www.lazardnet.com/lam/us/lazardfunds.shtml, approximately 14 days after such quarter end. The information will remain accessible at least until the Fund files a report on Form N-Q or Form N-CSR for the period that
includes the date as of which the information was current. A description of the Fund’s policies and procedures with respect to the disclosure of the Portfolio’s portfolio holdings is available in the Fund’s SAI. You can get a free copy of the Reports and the SAI at http://www.LazardNet.com, or request the Reports and the SAI and other information and discuss your questions about the Portfolio, by contacting the Fund at: The Lazard Funds, Inc. You also can review the Reports and the SAI at the Public Reference Room of the SEC in Washington, D.C. For information, call (202) 551-8090. You can get text-only copies:
•
After paying a duplicating fee, by writing the Public Reference Branch of the SEC, 100 F Street NE, Room 1580, Washington, D.C. 20549-1520, or by e-mail request to publicinfo@sec.gov.
•
Free from the SEC’s website at http://www.sec.gov. Investment Company Act file no. 811-06312
Investment Manager
Transfer Agent and Dividend Disbursing Agent
Distributor
Legal Counsel
Custodian
Independent Registered Public Accounting Firm No person has been authorized to give any information or to make any representations not contained in this Prospectus, and information or representations not contained herein must not be relied upon as having been authorized by the Fund or the Distributor. This Prospectus does not constitute an offer of any security other than the registered securities to
which it relates or an offer to any person in any jurisdiction where such offer would be unlawful. Lazard Asset Management LLC • 30 Rockefeller Plaza • New York, NY 10112 • www.lazardnet.com The Statement of Additional
Information is incorporated by reference from Registrant’s Post-Effective Amendment No. 88 filed with the Securities
and Exchange Commission (the “SEC”) on June 13, 2014.
30 Rockefeller Plaza
New York, New York 10112-6300
Telephone: (800) 823-6300
http://www.LazardNet.com
Lazard Asset Management LLC
30 Rockefeller Plaza
New York, New York 10112-6300
Telephone: (800) 823-6300
Boston Financial Data Services, Inc.
P.O. Box 8514
Boston, Massachusetts 02266-8514
Telephone: (800) 986-3455
Lazard Asset Management Securities LLC
30 Rockefeller Plaza
New York, New York 10112-6300
Stroock & Stroock & Lavan LLP
180 Maiden Lane
New York, New York 10038-4982
http://www.stroock.com
State Street Bank and Trust Company
One Lincoln Street
Boston, Massachusetts 02111
Deloitte & Touche LLP
30 Rockefeller Plaza
New York, New York 10112
THE LAZARD FUNDS, INC. Other Exhibits: Reference is made to Article EIGHTH of Registrant’s Articles of
Incorporation filed as Exhibit (a) and to Section 2-418 of the Maryland General Corporation Law. The application of these provisions
is limited by Article VI of Registrant’s By-Laws filed as Exhibit (b) and by the following undertaking set forth in the rules promulgated
by the SEC: Insofar as indemnification for liabilities arising under
the Securities Act of 1933, as amended, may be permitted to directors, officers and controlling persons of Registrant pursuant
to the foregoing provisions, or otherwise, Registrant has been advised that in the opinion of the SEC such indemnification is against
public policy as expressed in such Act and is, therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by Registrant of expenses incurred or paid by a director, officer or controlling person
of Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling
person in connection with the securities being registered, Registrant will unless in the opinion of its counsel the matter has
been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in such Act and will be governed by the final adjudication of such issue. Reference also is made to the Investment Management Agreement and
the Distribution Agreement filed as Exhibits (d) and (e), respectively. The descriptions of personnel of Lazard Asset Management LLC (“LAM”)
under the Captions “Fund Management” in the Prospectus and “Management” in the Statement of Additional Information
constituting Parts A and B, respectively, of this Registration Statement are incorporated by reference herein. The following is
a list of the directors and senior officers of the Investment Manager. None of the persons listed below has had other business
connections of a substantial nature during the past two fiscal years. Position and Offices with The majority of the accounts, books and other documents required
to be maintained by Section 31(a) of the Investment Company Act of 1940, as amended, and the rules thereunder are maintained as
follows: journals, ledgers, securities records and other original records are maintained primarily at the offices of Registrant’s
custodian, State Street Bank and Trust Company. All other records so required to be maintained are maintained at the offices of
LAM, 30 Rockefeller Plaza, New York, New York 10112. SIGNATURES Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant certifies that it has duly caused this Amendment to the Registration Statement to be signed on its
behalf by the undersigned, thereunto duly authorized, in the City of New York, and State of New York, on the 27th day of August,
2014. Pursuant to the requirements of the Securities Act of 1933, this
Amendment to Registration Statement has been signed below by the following persons in the capacities and on the dates indicated.
PART C. OTHER INFORMATION
ITEM 28.
EXHIBITS.
(a)
Articles of Incorporation, Articles of Amendment and Articles Supplementary(1), (2), (3), (6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16), (17), (18), (19), (20), (21), (22), *
(b)
By-Laws(8)
(d)(1)
Investment Management Agreement, as revised*
(d)(2)
Expense Limitation Agreement, as revised*
(e)
Distribution Agreement, as revised(7)
(g)
Amended and Restated Custodian Contract(1)
(h)(1)
Revised Transfer Agency and Service Agreement(1)
(h)(2)
Amendment to Revised Transfer Agency and Service Agreement(1)
(h)(3)
Administration Agreement(4)
(i)
Opinion and Consent of Counsel(5)
(m)(1)
Distribution and Servicing Plan, as revised*
(m)(2)
Form of Financial Intermediary Agreement(18)
(n)
18f-3 Plan, as revised*
(p)
Code of Ethics(16)
(s)(1)
Powers of Attorney of Board Members (except Trevor M. Morrison)(9)
(s)(2)
Power of Attorney of Trevor M. Morrison(23)
*
To be filed by amendment.
1.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 28 filed with the SEC on April 29, 2003.
2.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 22 filed with the SEC on December 29, 2000.
3.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 25 filed with the SEC on April 30, 2001.
4.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 8 filed with the SEC on October 13, 1995.
5.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 9 filed with the SEC on December 27, 1995.
6.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 31 filed with the SEC on December 3, 2004.
7.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 34 filed with the SEC on July 20, 2005.
8.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 38 filed with the SEC on February 27, 2006.
9.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 42 filed with the SEC on February 13, 2008.
10.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 44 filed with the SEC on April 29, 2008.
11.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 48 filed with the SEC on September 24, 2008.
12.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 51 filed with the SEC on December 22, 2009.
13.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 53 filed with the SEC on April 9, 2010.
14.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 58 filed with the SEC on March 25, 2011.
15.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 62 filed with the SEC on August 12, 2011.
16.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 65 filed with the SEC on November 17, 2011.
17.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 67 filed with the SEC on April 27, 2012.
18.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 69 filed with the SEC on May 23, 2012.
19.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 74 filed with the SEC on June 25, 2013.
20.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 79 filed with the SEC on October 22, 2013.
21.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 81 filed with the SEC on November 27, 2013.
22.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 86 filed with the SEC on April 28, 2014.
23.
Incorporated by reference from Registrant’s Post-Effective Amendment No. 88 filed with the SEC on June 13, 2014.
ITEM 29.
PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT.
None.
ITEM 30.
INDEMNIFICATION.
ITEM 31.
BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER.
Title / Name
Directors
Kenneth M. Jacobs
Alexander F. Stern
Chief Executive Officer and Director
Ashish Bhutani
Deputy Chairmen
Charles Carroll
Andrew Lacey
John Reinsberg
Chairman USA
Robert P. DeConcini
Senior Managing Directors
Andreas Hubner
Robert Prugue
Bill Smith
Managing Directors
Jennifer Abate
Aaron Barnfather
Ardra Belitz
Michael Bennett
Christopher Blake
Nicholas Bratt
Charles Burgdorf
Rhett Brown
Irene Cheng
Rohit Chopra
David Cleary
Kenneth Colton
Robert Connin
Alan Custis
Kun Deng
Henry Detering
James Donald
Anthony Dote, Jr.
Yury Dubrovsky
Christian Eckert
Robert Failla
Michael Fry
Jeffrey Gould
Timothy Griffen
Peter Hunsberger
Yugo Ishida
Jai Jacob
Dwight Jacobsen
Arif Joshi
Yvette Klevan
Werner Krämer
Matthias Kruse
Jay Leupp
Mark Little
Carmine Lizza
Gerald B. Mazzari
Thomas McManus
Jonathan Morris
Andrew Norris
Kevin O’Hare
Prateek Pant
Nathan A. Paul
David Pizzimenti
Michael Powers
Ganesh Ramachandran
Joe Ramos
Shaka Rasheed
Sean Reynolds
Susan Roberts
Patrick Ryan
James Schachtel
Ulrich Schweiger
Denise Simon
Manish Singhai
Darrin Sokol
Craig Straub
Jeremy Taylor
Ronald Temple
Richard Tutino
George Varino
Louisa Vincent
Kelly Ward
Mike Wariebi
Merida Welles
Christopher Whitney
David Willis
ITEM 32.
PRINCIPAL UNDERWRITERS.
(a)
Lazard Asset Management Securities LLC, a Delaware limited liability company, is the principal underwriter of the Registrant and also serves as the principal underwriter of Lazard Retirement Series, Inc.
(b)
The following information is given regarding directors and officers of Lazard Asset Management Securities LLC, whose principal business address is 30 Rockefeller Plaza, New York, New York 10112.
Name
Position and Offices with
Underwriter
Registrant
Charles L. Carroll
Chief Executive Officer
President and Director
Gerald B. Mazzari
Chief Financial Officer and Chief Operating Officer
None
Nathan A. Paul
Chief Legal Officer
Secretary
(c)
Not applicable.
ITEM 33.
LOCATION OF ACCOUNTS AND RECORDS.
ITEM 34.
MANAGEMENT SERVICES.
Not applicable.
ITEM 35.
UNDERTAKINGS.
None.
THE LAZARD FUNDS, INC.
By:
/s/ Charles L. Carroll
Charles L. Carroll, Chief Executive Officer
/s/ Charles L. Carroll
President and Director
August 27, 2014
Charles L. Carroll
/s/ Stephen St. Clair
Treasurer and Chief Financial Officer
August 27, 2014
Stephen St. Clair
/s/ Ashish Bhutani
Director
August 27, 2014
Ashish Bhutani
/s/ Kenneth S. Davidson*
Director
August 27, 2014
Kenneth S. Davidson
/s/ Nancy A. Eckl*
Director
August 27, 2014
Nancy A. Eckl
/s/ Trevor M. Morrison*
Director
August 27, 2014
Trevor M. Morrison
/s/ Leon M. Pollack*
Director
August 27, 2014
Leon M. Pollack
/s/ Richard Reiss, Jr.*
Director
August 27, 2014
Richard Reiss, Jr.
/s/ Robert M. Solmson*
Director
August 27, 2014
Robert M. Solmson
*By:
/s/ Nathan A. Paul
Attorney-in-fact, Nathan A. Paul