Lazard Global Realty Equity Portfolio

Class Inst (LITIX)

Fund Holdings

Asset Allocation

% Long % Net
Cash 2.45 2.45
Stocks 42.86 42.86
Bonds 0.0 0.0
Other 3.67 3.67
Foreign Bonds 0.0 0.0
Foreign Stocks 51.02 51.02
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

Ticker YTD Return % % Net Assets
Simon Property Group Inc SPG 18.32 5.47
HCP Inc HCP 17.15 3.13
Mitsui Fudosan Co., Ltd. MTSFF -12.02 2.98
Wharf holdings WARFF -6.3 2.56
Klepierre Reit Eur1.4 --- --- 2.38
Boardwalk Real Estate Investment Trust BOWFF 11.3 2.33
Digital Realty Trust, Inc. DLR 23.25 2.29
Sumitomo Realty & Development Co., Ltd. SURDF -5.98 2.12
Ventas Inc VTR 14.84 2.03
AvalonBay Communities Inc AVB 22.41 2.01