Lazard US Short Duration Fixed Income Portfolio Open Shares

Frequently Asked Questions About UMNOX

What does UMNOX invest in?

This investment fund aims to achieve two primary objectives: generating overall financial gains and ensuring the protection of capital. Typically, the portfolio allocates at least 80% of its total holdings to a diverse range of fixed-income instruments issued by U.S. entities. This broad category encompasses various assets such as U.S. government bonds, corporate debt, securities backed by mortgages or other assets, municipal obligations, complex structured financial products, preferred shares, and inflation-protected securities. The fund also retains the flexibility to invest up to 20% of its assets in other types of securities that are not necessarily U.S.-issued or strictly fixed-income in nature.

What is the expense ratio of UMNOX?

Lazard US Short Duration Fixed Income Portfolio Open Shares (UMNOX) charges an expense ratio of 0.65%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of UMNOX?

Effective duration measures UMNOX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. UMNOX's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of UMNOX?

UMNOX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of UMNOX?

Yield to maturity (YTM) is the total return you'd earn from UMNOX if every bond in the portfolio is held to maturity at the current price. UMNOX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.

How big is UMNOX?

Lazard US Short Duration Fixed Income Portfolio Open Shares (UMNOX) manages $33.3M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.