# HISTORICAL PERFORMANCE
Cumulative	Annualized	
| Fund | 4.92% | -8.47% | -8.20% | 0.98% | 6.29% | 0.33% | 1.23% |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Benchmark index | 5.47% | -10.36% | -10.40% | -4.51% | 1.07% | -1.53% | 0.21% |
| Difference | -0.54% | 1.89% | 2.20% | 5.50% | 5.22% | 1.85% | 1.01% |

Inception date	21/09/2007

### 1 Month	YTD	1 Year	3 Years	5 Years
3 Years	5 Years
Date of share's first NAV calculation
21/09/2007
Management company	Lazard Frères Gestion SAS Custodian	CACEIS Fund Admin
Fund administration	CACEIS Fund Admin
| Frequency of NAV calculation Order execution | Daily On next NAV for orders placed | PERFORMANCE BY CA | LENDAR YEAR |  |
| --- | --- | --- | --- | --- |
| before 12:00 p.m |  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| Subscritption terms | D (NAV date) + 2 business day | Fund | 3.42% | 4.29% | 9.75% | -3.42% | 6.12% | 10.72% | -1.50% | 5.48% | 9.56% | 24.56% |
| Settlement of redemptions | D (NAV date) + 2 business day | Benchmark index | 2.94% | 1.45% | 9.97% | -3.14% | 5.72% | 10.03% | 0.19% | 5.59% | 8.35% | 21.94% |
| Share decimalisation | No |  |  |  |  |  |  |  |  |  |  |  |
| Minimum investment	1 share	 TRAILING 1Y PERFORMANCE	RISK RATIOS*** |

Volatility
| 2022 07 31 | -8.20% | -10.40% |
| --- | --- | --- |
| 2021 07 31 | 9.37% | 8.96% |
| 2020 07 31 | 0.58% | -2.20% |

| Subscription fees | 4% max |
| --- | --- |
| Redemption fees | 4% max |
| Management fees | 0.75% |
| Performance fees | 15% of the performance over the benchmark |
| Current expenses | 0.77% |


### 1 Year	3 Years
| 2019 07 31 | 4.24% | 4.32% | Fund | 5.60% | 8.63% |
| --- | --- | --- | --- | --- | --- |
| 2018 07 31 | 0.97% | 1.47% | Benchmark index | 6.24% | 9.50% |

| *Risk scale : Derived from the historic volatility of the fund over a period of 5 years. The management company reserves the right to adjust the level of risk calculated according | 2017 07 31 2016 07 31 | 7.84% 2.49% | 7.61% 3.82% |
| --- | --- | --- | --- |
| to the specific risk of the fund. This risk scale is supplied as a rough guide and may be modified without advance notice.Risk 1 does not mean a risk-free investment. This | 2015 07 31 | 3.19% | 3.73% |

Information ratio	
2.801.69
| indicator may change over time. |  | 2014 07 31 | 11.39% | 9.89% |  | Sharpe ratio | -1.37 | 0.09 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  | 2013 07 31 | 13.65% | 12.72% |  | Alpha | 1.26 | 1.69 |
| (3) Ratios calculated on a weekly basis |  |  |  |  |  | Beta | 0.89 | 0.91 |

Translation (ENFR, 2022-07-31):
# HISTORIQUE DE PERFORMANCES
Cumulées	Annualisées	
Date de 1ère VL de la part	21/09/2007
Société de gestion	Lazard Frères Gestion SAS
Dépositaire	CACEIS Fund Admin
Valorisateur	CACEIS Fund Admin Fréquence de valorisation	Quotidienne
Exécution des ordres	Pour les ordres passés avant
sur prochaine VL Règlement des souscriptions	J (date VL) + 2 ouvrés Règlement des rachats	J (date VL) + 2 ouvrés Décimalisation de la part	Non
Investissement minimum1
Commission de souscription	4% max
1 mois	YTD	1 an	3 ans	5 ans
3 ans	5 ans
| Fonds | 4,92% | -8,47% | -8,20% | 0,98% | 6,29% | 0,33% | 1,23% |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Indicateur de référence | 5,47% | -10,36% | -10,40% | -4,51% | 1,07% | -1,53% | 0,21% |
| Écart | -0,54% | 1,89% | 2,20% | 5,50% | 5,22% | 1,85% | 1,01% |

| 12h00 souscriptions et rachats   PERFORMANCES CALENDAIRES |
| --- |
|  | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 |
| Fonds | 3,42% | 4,29% | 9,75% | -3,42% | 6,12% | 10,72% | -1,50% | 5,48% | 9,56% | 24,56% |
| Indicateur de référence | 2,94% | 1,45% | 9,97% | -3,14% | 5,72% | 10,03% | 0,19% | 5,59% | 8,35% | 21,94% |
| PERFORMANCES ANNUELLES GLISSANTES	RATIOS DE RISQUE*** |

1 an	3 ans
Volatilité
| Commission de rachat | 4% max | 2022 07 31 | -8,20% | -10,40% |
| --- | --- | --- | --- | --- |
| Frais de gestion | 0,75% | 2021 07 31 | 9,37% | 8,96% |
| Comm. de surperformance | 15% de la performance | 2020 07 31 | 0,58% | -2,20% |

supérieure à l’indice
Frais courants	0,77%
**Echelle de risque: calculée à partir de la volatilité historique de l'OPC sur une période de 5 ans. Si le fonds n'a pas 5 ans d'historique, le niveau de risque est calculé à partir de la volatilité d'un indicateur de référence ou de la volatilité cible de la stratégie. La société de gestion se réserve la possibilité d'ajuster le niveau de risque calculé en fonction des risques spécifiques du fonds. Cette échelle de risque est fournie à titre indicatif et est susceptible d'être modifiée sans préavis. Le risque 1 ne signifie pas un investissement garanti sans perte de capital. Cet indicateur peut varier dans le temps.
***Ratios calculés sur une base hebdomadaire.
| 2019 07 31 | 4,24% | 4,32% | Fonds | 5,60% | 8,63% |
| --- | --- | --- | --- | --- | --- |
| 2018 07 31 | 0,97% | 1,47% | Indicateur de référence | 6,24% | 9,50% |

2017 07 31	7,84%	7,61%
2016 07 31	2,49%	3,82%
2015 07 31	3,19%	3,73%
2014 07 31	11,39%	9,89%
2013 07 31	13,65%	12,72%
Ratio d'information	
2,80	1,69
Ratio de sharpe	
-1,37	0,09
Bêta	
0,89	0,91
Alpha	
1,26	1,69