Lazard Global Total Return and Income Fund Announces New Distributions
Lazard Global Total Return and Income Fund Confirms Monthly Distribution
The Lazard Global Total Return and Income Fund, Inc. (NYSE:LGI) has made a significant announcement regarding its monthly distribution as part of its Managed Distribution Policy, which is approved by its Board of Directors. According to this recent declaration, the Fund will distribute $0.14941 per share to its shareholders. This distribution is set to be paid out in a timely manner, ensuring that shareholders receive their returns on their investment.
Detailed Breakdown of the Distribution
The upcoming distribution will take effect on October 22, 2024, with shareholders on record as of October 11, 2024. It’s important for investors to note that the ex-dividend date is also on October 11, 2024. Such timely disclosures help in making informed investment decisions, thus enhancing shareholder experience.
Additionally, a previously declared distribution will occur today, on September 23, 2024. This proactive approach by the Fund demonstrates its commitment to delivering consistent returns to investors. The following details provide a comprehensive view of the current distribution along with cumulative distributions for the fiscal year to date.
Distribution Sources and Breakdown
The Fund's distributions, outlined below, consist of various sources including net investment income, net realized capital gains (both short-term and long-term), along with a return of capital. It is crucial for investors to examine these sources to understand better how their distributions are calculated.
Estimated Distribution Amounts
The current total distribution of $0.14941 per share breaks down as follows:
- Net Income: $0.00000 (0% of total distribution)
- Net Realized Short-Term Capital Gains: $0.00000 (0% of total distribution)
- Net Realized Long-Term Capital Gains: $0.13427 (90% of total distribution)
- Return of Capital: $0.01514 (10% of total distribution)
The total cumulative distributions for the fiscal year amount to $1.07577, akin to 100% of the total cumulative distributions. This detailed breakdown affords shareholders a clearer understanding of their returns.
Performance Insights
Looking at the Fund’s performance perspective, investors can observe the average annual total return concerning NAV over a 5-year period ending August 31, 2024, stands at 10.07%. This commendable rate showcases the Fund’s capability to generate significant returns.
Current Distribution Rate and Yield
The annualized current distribution rate, expressed as a percentage of NAV, is noted at 9.48%. Moreover, the cumulative total return for the fiscal year through August 31, 2024, reached an impressive 10.97%. These statistics illustrate a stable and rewarding investment opportunity for participants in the Fund.
Investment Objectives and Strategies
The primary aim of the Fund is to achieve total returns, focusing on both capital appreciation and ongoing income. Its diverse portfolio is invested in approximately 60 to 80 U.S. and international equity securities, prominently featuring companies with market capitalizations exceeding $2 billion. Notably, the Fund includes investments in emerging markets.
The advisor of the Fund, Lazard Asset Management (LAM), deploys a strategic approach, allowing investments in emerging market currencies through various instruments, ensuring a balanced risk-return profile for investors. They also explore a wide range of debt obligations, enhancing the growth prospects of the Fund.
Additional Information on Lazard Asset Management
An indirect subsidiary of Lazard, Inc. (NYSE: LAZ), LAM manages a remarkable portfolio exceeding $244.3 billion in client assets as of August 31, 2024. Their global reach facilitates a variety of equity, fixed-income, and alternative investment products, aligning well with diverse investor objectives.
For further insights into the Fund's portfolio data, as of August 31, 2024, including performance metrics and asset allocation details, investors are encouraged to visit Lazard Asset Management’s official website.
If shareholders have inquiries or need more information, they can reach out via their dedicated customer service line at 1-800-823-6300.
Frequently Asked Questions
What is the monthly distribution amount announced?
The Fund has announced a monthly distribution of $0.14941 per share.
When will the distribution be paid?
The distribution will be paid on October 22, 2024, to shareholders of record on October 11, 2024.
What sources contribute to the distribution?
The distribution comes from sources including net income, net realized capital gains, and return of capital.
How has the Fund performed recently?
The Fund has shown an impressive annual total return of 10.07% over the last five years.
What is the Fund's investment strategy?
The Fund aims for both capital appreciation and current income by investing in U.S. and non-U.S. equities, including those in emerging markets.
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