Lazard Global Small Cap Equity Portfolio Q4 2025 Commentary

Lazard Asset Management48 FollowersFollow5ShareSavePlay(5min)CommentsSummaryGlobal small cap equities rose in the fourth quarter, with signs that market leadership was beginning to broaden.The central bank hinted that it would likely pause further cuts as it collects more data to assess labor market and inflation conditions.The Lazard Global Small Cap Equity Portfolio outperformed its blended benchmark by returning 3.0% compared to the Index's 2.8%.Shares of US-listed optical laser producer Lumentum rose after the company reported solid quarterly results, driven by strong margin performance and new customer wins.Shares of US-listed mining company Ramaco fell following strong outperformance year-to-date, which had been fueled by investor optimism around the company's plans to produce rare earths. SmileStudioAP/iStock via Getty Images Market Review Global small cap equities rose in the fourth quarter, with signs that market leadership was beginning to broaden. Notably, the months-long AI-driven rally appeared to enter a new phase, with investors becoming increasingly cautious about the sustainabilityThis article was written byLazard Asset Management48 FollowersFollowLazard Asset Management delivers world-class investment solutions and long-term value for their clients. When clients partner with Lazard, they gain a trusted advocate committed to championing their success and helping them achieve their unique ambitions. Note: This account is not managed or monitored by Lazard Asset Management, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Lazard Asset Management's official channels.