Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/17/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$88.4 K
Holdings in Top 10
161.9%
Expense Ratio 0.01%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 12/17/2021Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund will invest in a diversified pool of assets while seeking to generate income that supports shareholders in retirement until the Fund’s assets have been completely drawn down by the Fund’s terminal date of December 31, 2040. The Fund does not follow a pre-defined glidepath. Instead, in implementing the Fund’s investment strategy, the Adviser’s allocations among asset classes will vary from year to year and the Adviser intends to strategically de-risk the Fund’s portfolio over time in an effort to provide consistent income for the benefit of all shareholders, in the aggregate. The Fund is generally intended for investors in retirement who intend to redeem their holdings in the Fund on an ongoing basis. Accordingly, the Adviser will manage the Fund’s portfolio with the expectation that it must meet a proposed “spend down amount” annually. As the Fund approaches its terminal date, redemptions may increase. In determining the spend down amount, the Adviser will attempt to balance income needs in the current year against the need for income in the future.
The Adviser will take into account multiple considerations when developing and maintaining the Fund’s portfolio in an attempt to deliver consistent income to shareholders. On an annual basis, factors such as time to fund maturity, inflation, long-term risk assumptions and market return expectations are reviewed to determine both the target asset allocation and the spend down amount to generate the target income. This annual review will mean allocations among asset classes may vary but the Adviser expects that they will generally fall within the following ranges:
Global Equity – 0-60% U.S. Fixed Income – 40-100% Cash & Cash Equivalents – 0-10%
The Fund’s target asset allocation may differ from the Fund’s actual asset allocation. These allocations will be reviewed periodically throughout the year to ensure any significant changes to the Adviser’s market outlook and/or other factors described above are incorporated into the asset
allocation, and that the spend down amount is amended accordingly. For example, the Adviser may seek to increase allocations to the global equity asset class to take advantage of certain market return opportunities identified by the Adviser, provided the Adviser believes the Fund’s expected volatility level in connection with such investments will be consistent with the Fund’s long-term risk assumptions. On the other hand, the Adviser may seek to increase allocations to the U.S. fixed income asset class to, for example, attempt to decrease volatility and preserve capital.
The Fund will gain exposure to the asset classes noted above through investments in other mutual funds for which the Adviser also serves as investment adviser (“LGIMA Underlying Funds”); in other funds, including third party (unaffiliated) funds and exchange-traded funds (“ETFs”) (“Unaffiliated Underlying Funds” and together with the LGIMA Underlying Funds, the “Underlying Funds”); and/or directly in, individual securities and in derivatives as discussed in more detail below. The Adviser currently anticipates that the Fund’s investments will consist mainly of the Underlying Funds, with a majority of the Fund’s assets invested in the LGIMA Underlying Funds. However, the amount of the Fund’s assets allocated to the Underlying Funds and direct investments will vary over time and the Fund may be invested entirely in LGIMA Underlying Funds, Unaffiliated Underlying Funds or direct investments at any given point in time.
With respect to its global equity investments, the Fund may invest in common stock of large and mid-capitalization companies, depositary receipts, and in Underlying Funds. With respect to its U.S. fixed income investments, the Fund may invest in U.S. government securities (including agencies and instrumentalities), corporate bonds, other corporate debt securities of U.S. issuers, including corporate commercial paper, municipal bonds, supra-national issuers, asset-backed securities, mortgage-backed securities and in Underlying Funds.
The Fund may use derivatives, such as futures contracts, options and forwards, to more effectively gain targeted equity and fixed income exposure from its cash positions, to hedge investments, for risk management and to attempt to increase the Fund’s gains. The Underlying Funds in which the Fund may invest may also use derivatives.
Because it is assumed that shareholders will be spending down amounts invested in the Fund each year until the Fund’s maturity date, the Fund’s assets are expected to decline over time and approach zero on the maturity date, at which time it is expected that the Fund will be liquidated. However, the Fund is not designed to comply with any required minimum distribution rules applicable to tax-deferred
retirement accounts nor does it take into account any tax considerations to shareholders (including, for example, any early withdrawal penalties that may be imposed on shareholders in tax-deferred retirement accounts). Shareholders investing through a tax-deferred retirement account subject to a required minimum distribution who redeem shares of the Fund from such account will need to include such redemption amount, as appropriate, in the computation of any annual required minimum distribution.
Period | LRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | 0.0% | 25.4% | N/A |
1 Yr | N/A | -31.6% | 15.7% | N/A |
3 Yr | N/A* | -17.8% | 5.4% | N/A |
5 Yr | N/A* | -10.6% | 20.9% | N/A |
10 Yr | N/A* | 3.0% | 17.6% | N/A |
* Annualized
Period | LRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -44.0% | -3.2% | N/A |
2022 | N/A | -16.4% | 25.4% | N/A |
2021 | N/A | -17.0% | 8.6% | N/A |
2020 | N/A | -18.1% | 2.4% | N/A |
2019 | N/A | -3.3% | 115.9% | N/A |
Period | LRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | 0.0% | 25.4% | N/A |
1 Yr | N/A | -30.6% | 17.0% | N/A |
3 Yr | N/A* | -17.4% | 8.5% | N/A |
5 Yr | N/A* | -10.2% | 20.9% | N/A |
10 Yr | N/A* | 3.0% | 17.6% | N/A |
* Annualized
Period | LRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -43.3% | -1.9% | N/A |
2022 | N/A | -13.6% | 32.7% | N/A |
2021 | N/A | -12.3% | 10.2% | N/A |
2020 | N/A | -15.2% | 7.6% | N/A |
2019 | N/A | -3.3% | 115.9% | N/A |
LRIIX | Category Low | Category High | LRIIX % Rank | |
---|---|---|---|---|
Net Assets | 88.4 K | 10.8 M | 64.2 B | N/A |
Number of Holdings | 4 | 21 | 684 | N/A |
Net Assets in Top 10 | 126 K | 3.47 M | 26.8 B | N/A |
Weighting of Top 10 | 161.92% | 11.4% | 153.5% | N/A |
Weighting | Return Low | Return High | LRIIX % Rank | |
---|---|---|---|---|
Stocks | 161.92% | 15.22% | 100.19% | N/A |
Preferred Stocks | 0.00% | 0.00% | 53.32% | N/A |
Other | 0.00% | -0.61% | 1.05% | N/A |
Convertible Bonds | 0.00% | 0.00% | 6.10% | N/A |
Cash | 0.00% | -108.27% | 18.56% | N/A |
Bonds | 0.00% | 0.00% | 108.20% | N/A |
Weighting | Return Low | Return High | LRIIX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.01% | N/A |
Technology | 0.00% | 0.00% | 9.65% | N/A |
Real Estate | 0.00% | 13.33% | 100.00% | N/A |
Industrials | 0.00% | -0.04% | 7.88% | N/A |
Healthcare | 0.00% | 0.00% | 4.37% | N/A |
Financial Services | 0.00% | 0.00% | 13.79% | N/A |
Energy | 0.00% | 0.00% | 5.47% | N/A |
Communication Services | 0.00% | 0.00% | 10.54% | N/A |
Consumer Defense | 0.00% | 0.00% | 0.23% | N/A |
Consumer Cyclical | 0.00% | -0.45% | 30.36% | N/A |
Basic Materials | 0.00% | -0.10% | 11.72% | N/A |
Weighting | Return Low | Return High | LRIIX % Rank | |
---|---|---|---|---|
US | 161.92% | 15.22% | 100.00% | N/A |
Non US | 0.00% | 0.00% | 46.93% | N/A |
LRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.01% | 0.00% | 29.08% | N/A |
Management Fee | 0.00% | 0.00% | 1.20% | N/A |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.47% | N/A |
LRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
LRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
LRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 3.00% | 877.00% | N/A |
LRIIX | Category Low | Category High | LRIIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.05% | N/A |
LRIIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Quarterly |
LRIIX | Category Low | Category High | LRIIX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -0.10% | 5.36% | N/A |
LRIIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Aug 15, 2018 | $0.031 | OrdinaryDividend |
Jun 22, 2018 | $0.060 | OrdinaryDividend |
Mar 22, 2018 | $0.060 | OrdinaryDividend |
Dec 22, 2017 | $0.080 | OrdinaryDividend |
Sep 22, 2017 | $0.060 | OrdinaryDividend |
Jun 22, 2017 | $0.060 | OrdinaryDividend |
Mar 22, 2017 | $0.060 | OrdinaryDividend |
Dec 23, 2016 | $0.040 | OrdinaryDividend |
Sep 28, 2016 | $0.080 | OrdinaryDividend |
Jun 28, 2016 | $0.080 | OrdinaryDividend |
Mar 29, 2016 | $0.110 | OrdinaryDividend |
Dec 22, 2015 | $0.110 | OrdinaryDividend |
Sep 22, 2015 | $0.095 | OrdinaryDividend |
Jun 23, 2015 | $0.080 | OrdinaryDividend |
Mar 24, 2015 | $0.080 | OrdinaryDividend |
Sep 23, 2014 | $0.120 | OrdinaryDividend |
Jun 24, 2014 | $0.100 | OrdinaryDividend |
Mar 25, 2014 | $0.100 | OrdinaryDividend |
Sep 27, 2013 | $0.110 | OrdinaryDividend |
Jun 28, 2013 | $0.110 | OrdinaryDividend |
Mar 28, 2013 | $0.110 | OrdinaryDividend |
Sep 28, 2012 | $0.130 | OrdinaryDividend |
Jun 28, 2012 | $0.120 | OrdinaryDividend |
Mar 28, 2012 | $0.107 | OrdinaryDividend |
Dec 29, 2011 | $0.096 | OrdinaryDividend |
Sep 30, 2011 | $0.146 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jul 30, 2008
10.01
10.0%
Jay P. Leupp, a Managing Director of the Investment Manager, is a portfolio manager/analyst on the Investment Manager’s Global Real Estate Securities team. He began working in the investment field in 1994. Prior to joining Lazard Asset Management LLC in 2011, Mr. Leupp was the President and Chief Executive Officer of Alesco, which he founded in 2005.Prior to that, he served as Managing Director of Real Estate Equity Research at RBC Capital Markets (“RBCâ€) from 2002 to 2006. Prior to joining RBC, Leupp served as Managing Director of Real Estate Equity Research at Robertson Stephens & Co., Inc. From 1991 to 1994, he served as Vice President of the Staubach Company. Jay holds an MBA from Harvard University and a bachelor’s degree from Santa Clara University. Jay is a member of the board of directors of Chaminade College Preparatory, Los Angeles; G.W. Williams Company; and United American Bank. He is also a member of the Santa Clara University board of regents; policy board of the Fisher Center for Real Estate at the University of California, Berkeley.
Start Date
Tenure
Tenure Rank
May 01, 2017
1.25
1.3%
Gautam Garg, a Vice President of Lazard Asset Management LLC, is a portfolio manager/analyst on the Investment Manager’s Global Real Estate Securities team. Prior to joining the firm in 2012, Mr. Garg was an equity research analyst at Credit Suisse assisting in coverage of global real estate investment trusts. He began working in the investment field in 2006.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 25.5 | 8.67 | 13.5 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...