Lazard Emerging Markets Equity Advantage Portfolio Q2 2026 Underperformed
The Lazard Emerging Markets Equity Advantage Portfolio underperformed its benchmark, the MSCI Emerging Markets Index (net of fees), during the quarter. Stock selection and sector allocation both detracted results. Underweight positions in financials and consumer discretionary helped, but underweight information technology hurt value. Stock selection was strongest in the Philippines and Korea and weakest in China and South Africa.