Lazard U.S. High Yield Portfolio to get new name June 28

By Toni Weeks

San Luis Obispo, Calif., April 5 - The board of directors of Lazard Funds, Inc. said it has approved a name change for the Lazard U.S. High Yield Portfolio. The new name will be the Lazard U.S. Corporate Income Portfolio, effective June 28, according to a 497 filing with the Securities and Exchange Commission.

The name change will accompany a change to the fund's investment strategy. As of June 28, the portfolio will invest at least 80% of its assets in fixed-income securities issued by corporations or other non-governmental issuers similar to corporations, with the securities tied economically to the United States. The portfolio will invest a substantial portion of its assets, up to 100%, in securities rated below investment grade at the time of purchase.

The current investment strategy says that the fund invests primarily in high-yielding U.S. corporate fixed-income securities rated below investment grade at the time of purchase and may invest in securities of non-U.S. companies, including, to a limited extent, in companies in, or governments of, emerging-market countries.

New York-based Lazard Asset Management LLC is the investment adviser to the fund.

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