Lazard Japan

Fund Investment Objectives

The Lazard Japan Vela strategy seeks to achieve long-term capital appreciation by investing long and short in a diversified portfolio of Japanese equities. It utilizes a double alpha strategy involving buying long securities that the team believes will go up in absolute value and selling short securities that the team believes will go down in absolute value based upon fundamental, bottoms-up analysis. There is typically a directional element to the portfolio construction and the overall portfolio may at any time be net long, net short, or neutral.