Lazard Retirement Emerging Markets Equity

  • Trading Symbol: FPRLC
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Morningstar® Snapshot*

AS OF 7/31/2015; MORNINGSTAR CATEGORY: DIVERSIFIED EMERGING MKTS
Returns 4 out of 5, Above Average 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.

Performance

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AS OF 7/31/2015
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FPRLC -15.02% -18.75% -0.61% +0.16% +3.62%
*AS OF 8/28/2015; Value is cumulative
SUBACCOUNT INCEPTION 5/1/2006

Hypothetical Growth of $10,000

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AS OF 07/31/2015; 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and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received.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.

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
This Fund -- -- 33.29% -48.72% 69.81% 22.74% -17.99% 22.03% -1.26% -4.62% -6.27%
Benchmark 34.00% 32.17% 39.39% -53.33% 78.51% 18.88% -18.42% 18.22% -2.60% -2.19% -4.19%
Category 29.95% 31.10% 34.57% -54.63% 68.90% 17.49% -20.05% 15.83% -0.95% -7.11% -4.58%
+/- Benchmark -- -- -6.10% 4.61% -8.70% 3.86% 0.43% 3.81% 1.34% -2.43% -2.08%
+/- Category -- -- -1.28% 5.91% 0.91% 5.25% 2.06% 6.20% -0.31% 2.49% -1.69%

Fund Manager(s)

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John R. Reinsberg since 11/4/1997 James M. Donald since 11/1/2001 Rohit Chopra since 5/1/2007 Monika Shrestha since 12/31/2014

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
$12.60
8/28/2015
5/1/2015
Turnover Rate
12%
12/31/2014
Net Assets ($M)
$53.49
7/31/2015
12 Month Low-High
$13.66 - $17.65
7/31/2015

Top 10 Holdings

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AS OF 6/30/2015
Top 10 Holdings
China Construction Bank Corp H Shares 4.17%
Taiwan Semiconductor Manufacturing Co Ltd 4.13%
Baidu Inc ADR 3.01%
Banco do Brasil SA BB Brasil 2.83%
Samsung Electronics Co Ltd 2.75%
China Mobile Ltd ADR 2.75%
Tata Consultancy Services Ltd 2.69%
Cielo SA 2.50%
Telekomunikasi Indonesia (Persero) Tbk ADR 2.26%
NetEase Inc ADR 2.24%
% of Total Portfolio 29.31%
Total # of holdings: 86 as of 6/30/2015

Quarter-End Average Annual Total Returns

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AS OF 6/30/2015; *SUBACCOUNT INCEPTION 5/1/2006 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.14% AS OF 5/1/2015
1 Yr 3 Yr 5 Yr 10 Yr Life*
Lazard Retirement Emerging Markets Equity -13.31% 1.73% 3.46% -- 4.27%
MSCI Emerging Markets (N) -5.12% 3.71% 3.68% 8.11% --
Diversified Emerging Mkts -9.96% 1.31% 1.74% 5.39% --

© 2015 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.