Lazard Asset Management Launches Emerging Markets Core Equity Fund

Lazard Asset Management LLC (LAM) today announced the launch of the Lazard Emerging Markets Core Equity Portfolio (the “Portfolio”) (NASDAQ: Institutional: ECEIX, Open: ECEOX).

The Portfolio seeks to achieve a consistent pattern of performance with lower volatility of alpha by investing in emerging markets companies at all stages of development, including small and large capitalization, growth and value opportunities. The team employs a flexible approach that allows for systematic evaluation of companies with different capital structures. The Portfolio is based on an existing strategy that the team has managed since inception in 2009.

The Portfolio is managed by the Lazard Emerging Markets Core Equity team, including portfolio managers Stephen Russell, Thomas Boyle and Paul Rogers, who have worked together on emerging markets strategies for over ten years and have over 15 years of investment experience in the emerging markets. They are supported by a dedicated research team as well as Lazard’s global resources, which include global sector specialists and more than 50 investment professionals dedicated to emerging markets.

“The Lazard Emerging Markets Core Equity team has a highly disciplined and thoughtful investment process, and has been an important addition to Lazard,” said James Donald, Head of Lazard Asset Management’s Emerging Markets Group. “The Lazard Emerging Markets Core Equity Portfolio complements our existing emerging markets fund offerings, which include relative value, relative growth, debt, and multi-asset.”

“We believe that by avoiding style and size biases, and investing across a broad spectrum of companies at various stages of development, the Lazard Emerging Markets Core Equity Portfolio is well positioned to capitalize on the evolving opportunities in the emerging markets universe,” said Stephen Russell, Portfolio Manager.

About Lazard

Lazard, one of the world’s preeminent financial advisory and asset management firms, operates from 40 cities across 26 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. As of September 30, 2013 LAM and affiliated asset management companies managed US$ 176 billion worth of client assets. For more information on Lazard, please visit www.lazard.com.

The value of your investment in the Portfolio will fluctuate, which means you could lose money. Equity securities will fluctuate in price; the value of your investment will thus fluctuate, and this may result in a loss.

Securities in certain non-domestic countries may be less liquid, more volatile, and less subject to governmental supervision than in one’s home market. The values of these securities may be affected by changes in currency rates, application of a country’s specific tax laws, changes in government administration,and economic and monetary policy. Small- and mid-capitalization stocks may be subject to higher degrees of risk, their earnings may be less predictable, their prices more volatile, and their liquidity less than that of large-capitalization or more established companies’ securities.

Emerging-market securities carry special risks, such as less developed or less efficient trading markets, a lack of company information, and differing auditing and legal standards. The securities markets of emerging-market countries can be extremely volatile; performance can also be influenced by political, social, and economic factors affecting companies in emerging-market countries.

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 Portfolio invests in stocks believed by Lazard 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.

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.LazardNet.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.

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