Lazard Global Listed Infrastructure Portfolio Wins Lipper Award

NEW YORK–(BUSINESS WIRE)–Lazard Asset Management LLC today announced that the Lazard
Global Listed Infrastructure Portfolio
(Institutional: GLIFX; Open:
GLFOX) received a 2018 Thomson Reuters Lipper Fund Award in recognition
of its superior performance in the Global Infrastructure Funds category.

The Lazard Global Listed Infrastructure Portfolio was awarded best fund
in the Global Infrastructure Funds category for the five-year period for
its fourth consecutive year. It ranked #1 out of 49 eligible funds.

“We’re honored that the team’s achievements have received this
recognition for the fourth year in a row,” said Nathan Paul, Chief
Business Officer at Lazard Asset Management. “The team’s continued
ability to exceed our clients’ expectations is a testament to their
seasoned expertise and proven process.”

The Lazard Global Listed Infrastructure Portfolio seeks long-term,
defensive, low-volatility returns that exceed inflation by investing in
equity securities of high quality infrastructure companies. The
investment team is among the pioneers in listed infrastructure investing
and its members have worked together for more than a decade.

The Thomson Reuters Lipper Fund Awards honor funds and fund management
firms that have excelled in providing consistently strong risk-adjusted
performance relative to their peers.

About Lazard Asset Management (LAM) LLC

An indirect subsidiary of Lazard Ltd (NYSE: LAZ), LAM offers a range of
equity, fixed income, and alternative investment products worldwide. As
of December 31, 2018, LAM and affiliated asset management companies in
the Lazard Group managed $215 billion worth of client assets. For more
information about LAM, please visit www.LazardAssetManagement.com.
Follow LAM at @LazardAsset.

About Lazard Ltd

Lazard, one of the world’s preeminent financial advisory and asset
management firms, operates from 43 cities across 27 countries in North
America, Europe, Asia, Australia, Central and South America. With
origins dating to 1848, the firm provides advice on mergers and
acquisitions, strategic matters, restructuring and capital structure,
capital raising and corporate finance, as well as asset management
services to corporations, partnerships, institutions, governments and
individuals. For more information on Lazard, please visit www.lazard.com.
Follow Lazard at @Lazard.

LAZ-AM
LAZ-CPE

Lipper Fund Classification Awards Methodology

The currency for the calculation corresponds to the currency of the
country for which the awards are calculated and relies on monthly data.
Classification averages are calculated with all eligible share classes
for each eligible classification. The calculation periods extend over
36, 60, and 120 months. The highest Lipper Leader for Consistent Return
(Effective Return) value within each eligible classification determines
the fund classification winner over three, five, or ten years. For a
detailed explanation, please review the Lipper Leaders methodology
documents on the
Lipper Leaders Information page
.

The performance quoted represents past performance. Past performance
does not guarantee future results.

Understanding Investment Risk

Securities and instruments of infrastructure companies are more
susceptible to adverse economic or regulatory occurrences affecting
their industries. Infrastructure companies may be subject to a variety
of factors that may adversely affect their business or operations,
including additional costs, competition, regulatory implications, and
certain other factors. The Portfolio invests in stocks believed by
Lazard to be undervalued, but that may not realize their perceived value
for extended periods of time or may never realize their perceived value.
The stocks in which the Portfolio invests may respond differently to
market and other developments than other types of stocks. The Portfolio
seeks to substantially hedge foreign currency exposure back to the US
dollar. The Portfolio’s total foreign currency exposure may not be fully
hedged at all times. Irrespective of any foreign currency exposure
hedging, the Portfolio may experience a decline in the value of its
portfolio securities, in US dollar terms, due solely to fluctuations in
currency exchange rates. Derivative transactions may reduce returns or
increase volatility and a small investment in certain derivatives could
have a potentially large impact on the Portfolio’s performance. Because
the Portfolio invests in a relatively smaller number of issuers than
other investment portfolios, its net asset value could be more
susceptible to adverse effects of any single corporate, economic,
political, regulatory, or other occurrence.

Please consider a fund’s investment objectives, risks, charges, and
expenses carefully before investing. For more complete information about
The Lazard Funds, Inc. and current performance, you may obtain a
prospectus or summary prospectus by calling 800-823-6300 or going to
www.lazardassetmanagement.com.
Read the prospectus or summary prospectus carefully before you invest.
The prospectus and summary prospectus contain investment objectives,
risks, charges, expenses, and other information about the Portfolio and
The Lazard Funds that may not be detailed in this document. The Lazard
Funds are distributed by Lazard Asset Management Securities LLC.

Contacts

For media inquiries:
Hillary Yaffe, Lazard Asset Management
+1
212 632 6528
hillary.yaffe@lazard.com

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