Lazard Asset Management has operated for more than 175 years while managing $265 billion of assets, which span across 20 countries. The investment team at the firm creates mutual fund portfolios through their fundamental research and valuation-based analysis, which results in funds with small investments that show different performance than market benchmarks. It also provides transparency on strategy. The combination of all these characteristics makes Lazard's mutual fund an appealing choice for investment. 

We have chosen three Lazard mutual funds — Lazard Global Listed Infrastructure Portfolio (GLFOX), Lazard Emerging Markets Equity Advantage Portfolio (LEAOX) and Lazard Global Small Cap Eq Open (LZSMX) — that investors should buy now for the long term. These funds have a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy), positive three-year and five-year annualized returns, minimum initial investments within $5000 and expense ratios considerably lower than the category average. So, these funds have provided a comparatively stronger performance and carry a lower fee. 

Lazard Global Listed Infrastructure Portfolio fund invests most of its assets in equity securities, including common stocks of infrastructure companies. These include utilities, pipelines, airports, railroads, ports, and telecommunications. 

John Mulquiney has been the lead manager of GLFOX since Dec. 31, 2009. Most of the fund's holdings were in companies like National Grid plc (8.3%), Snam S.p.A. (7%) and Ferrovial SE (6.3%) as of Sept. 30, 2025. 

GLFOX's 3-year and 5-year annualized returns are 11.9% and 11.4%, respectively. Its net expense ratio is 1.21%. GLFOX has a Zacks Mutual Fund Rank #1.

To see how this fund performed compared to its category and other 1 and 2 Ranked Mutual Funds,please click here. 

Lazard Emerging Markets Equity Advantage Portfolio fund invests a majority of its assets in common stocks of companies tied to emerging markets, using a bottom-up, quantitative selection process.  

Taras Ivanenko has been the lead manager of LEAOX since May 29, 2015. Most of the fund's holdings were in companies like Taiwan Semiconductor Manufacturing Co Ltd (10.2%), Tencent Holdings Ltd (5.2%) and Alibaba Group Holding Ltd (4%) as of Sept. 30, 2025. 

LEAOX's 3-year and 5-year annualized returns are 16.3% and 6.7%, respectively. Its net expense ratio is 1.15%. LEAOX has a Zacks Mutual Fund Rank #1. 

Lazard Global Small Cap Eq Openfund seeks long-term capital appreciation. LZSMX invests primarily in equity securities, principally common stocks, of relatively small non-U.S. companies that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values.