Lazard Retirement Emerging Markets Equity

  • Trading Symbol: FNRLC
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Morningstar® Snapshot*

AS OF 11/30/2014; MORNINGSTAR CATEGORY: DIVERSIFIED EMERGING MKTS
Returns 5 out of 5, High Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:8, where 1 is Lower and 10 is Higher
LOWER HIGHER

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 11/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FNRLC -5.26% +2.00% +5.49% +4.81% +5.09%
*AS OF 12/19/2014; Value is cumulative
SUBACCOUNT INCEPTION 5/1/2006

Hypothetical Growth of $10,000

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AS OF 11/30/2014; MORNINGSTAR CATEGORY: DIVERSIFIED EMERGING MKTS
Shows growth of hypothetical $10,000 investment in Lazard Retirement Emerging Markets Equity fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

Fund Manager(s)

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Erik McKee since 7/31/2008 Rohit Chopra since 5/1/2007 James M. Donald since 11/1/2001 John R. Reinsberg since 11/3/1997

Fund Overview

Objective

The investment seeks long-term capital appreciation.

Strategy

The fund invests primarily in equity securities, principally common stocks, of non-U.S. companies whose principal activities are located in emerging market countries and that the Investment Manager believes are undervalued based on their earnings, cash flow or asset values. Under normal circumstances, it invests at least 80% of its assets in equity securities of companies whose principal business activities are located in emerging market countries.

Risk

Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of which may be magnified in emerging markets. Stock markets are volatile and can decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Details

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Morningstar Category
Diversified Emerging Mkts
Subaccount Inception
5/1/2006
Unit Value
$14.12
12/19/2014
4/30/2014
4/30/2014
Turnover Rate
14%
12/31/2013
Annual Maintenance Fee
$30.00
Net Assets ($M)
$24.76
11/30/2014
12 Month Low-High
$13.34 - $16.86
11/30/2014

Top 10 Holdings

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AS OF 9/30/2014
Top 10 Holdings
Banco do Brasil SA BB Brasil 3.38%
Taiwan Semiconductor Manufacturing Co Ltd 3.24%
Samsung Electronics Co Ltd 2.92%
China Construction Bank Corp H Shares 2.88%
Sberbank Of Russia 2.67%
Pacific Rubiales Engy 2.50%
China Mobile Ltd ADR 2.48%
Shinhan Financial Group Co Ltd 2.38%
Telekomunikasi Indonesia (Persero) Tbk ADR 2.26%
Tata Consultancy Services Ltd 2.26%
% of Total Portfolio 26.97%
Total # of holdings: 89 as of 9/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; *SUBACCOUNT INCEPTION 5/1/2006 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.14% AS OF 4/30/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Lazard Retirement Emerging Markets Equity 3.38% 8.01% 5.06% -- 5.10%
MSCI Emerging Markets (N) 4.30% 7.19% 4.42% 10.68% --
Diversified Emerging Mkts 1.55% 6.09% 2.91% 8.11% --

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