Lazard Emerging Income, Ltd.

(Class A2)

Fund Investment Objectives

Lazard Emerging Income ("LEI" or the "Fund") is a globally diversified emerging markets (EM) currency and local debt strategy that attains exposure to emerging market countries by investing in local market instruments, including currency forwards and local currency debt. LEI takes an index-agnostic approach to EM local market opportunities, seeking high risk-adjusted results from amongst Lazard's evolving, diverse universe which currently spans more than 50 global markets across Asia, Africa, Latin America, the CIS/Baltic States, Eastern Europe, and the Middle East.