Lazard International Equity Portfolio Q4 2025 Commentary

Lazard Asset Management45 FollowersFollow5ShareSavePlay(15min)CommentsSummaryFor the year, the Lazard International Equity Portfolio rose 34.1% (net of fees), ahead of the benchmark MSCI EAFE Index which rose 31.2%, driven by stock selection.During the fourth quarter, the Portfolio rose 3.1%, lagging the benchmark which rose 4.9%. Several stocks and industries bolstered the Portfolio during both periods.Banks had a historic year within developed non-US markets, rising 69.3% compared to the overall MSCI EAFE Index which rose 31.2%. KanawatTH/iStock via Getty Images Market Review International Equities added another 5% in the fourth quarter, finishing up over 30% for the year: largest gain since 2009 Non-US markets also had their biggest gain vs the US since 1993 This This article was written byLazard Asset Management45 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.