Lazard World Trust Fund (formerly The World Trust Fund) seeks long-term capital appreciation by investing in companies trading at a discount to their estimated net asset value. These include closed-end funds and investment trusts, holding companies, and special situation companies. The team encourages boards to enhance shareholder value and seeks to reduce or eliminate discounts through improved corporate governance and, where appropriate, corporate restructuring. Since 2000, the Fund has also hedged a portion of the underlying market exposure.
Lazard World Trust Fund’s investment process begins with seeking and validating value, and ends with identifying catalysts for capturing that value, while closely monitoring and controlling risk. The team actively seeks to eliminate or reduce these discounts by promoting corporate restructuring and improved corporate governance. The goal is to gain absolute and relative return from the investments.