Total |
| Lazard Retirement International Equity Portfolio
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| Lazard
Retirement International Equity Portfolio
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| Investment Objective
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The Portfolio seeks
long-term capital appreciation.
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| Fees and Expenses
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This table describes
the fees and expenses that you may pay if you buy, hold and sell shares of the Portfolio, a series of
Lazard Retirement Series, Inc. (the “Fund”), but does not reflect the fees or charges imposed
by the separate accounts of certain insurance companies (the “Participating Insurance Companies”)
under variable annuity contracts or variable life insurance policies (the “Policies” and
each, a “Policy”). If such fees and charges were reflected, the figures in the table would
be higher.
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| Annual Portfolio Operating Expenses (expenses
that you pay each year as a percentage of the value of your investment)
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| Example
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This Example is intended to help you compare
the cost of investing in the Portfolio with the cost of investing in other mutual funds. The Example assumes
that you invest $10,000 in the Portfolio for the time periods indicated and then hold or redeem all of
your shares at the end of those periods. The Example also assumes that your investment has a 5% return
each year and that the Portfolio’s operating expenses remain the same, giving effect to the expense
limitation agreement in year one only. The Example does not reflect fees and expenses imposed by the
Participating Insurance Companies under the Policies; if they were reflected, the figures in the Example
would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs
would be:
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Expense Example - Lazard Retirement International Equity Portfolio - USD ($)
|
Service |
Investor |
| 1 Year |
$ 112
|
$ 87
|
| 3 Years |
397
|
318
|
| 5 Years |
702
|
569
|
| 10 Years |
$ 1,571
|
$ 1,286
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| Portfolio Turnover
|
The Portfolio pays transaction costs, such as commissions,
when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover
rate may indicate higher transaction costs. These costs, which are not reflected in annual portfolio
operating expenses or in the Example, affect the Portfolio’s performance. During the most recent
fiscal year, the Portfolio’s portfolio turnover rate was 41% of the average value of its portfolio.
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| Principal
Investment Strategies
|
The Portfolio invests primarily in equity securities, principally common stocks,
of relatively large non-US companies with market capitalizations in the range of companies included in
the MSCI® Europe, Australasia and Far East (“EAFE®”)
Index (ranging from approximately $3.2 billion to $451.5 billion as of March 31, 2024) that the Investment
Manager believes are undervalued based on their earnings, cash flow or asset values. In choosing stocks
for the Portfolio, the Investment Manager looks for established companies in economically developed countries
and may invest up to 15% of the Portfolio’s assets in securities of companies whose principal business
activities are located in emerging market countries. Under normal circumstances, the Portfolio invests
at least 80% of its assets in equity securities.
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| Principal Investment Risks
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Risk Table - Lazard Retirement International Equity Portfolio
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Risk [Text Block] |
| Risk Lose Money [Member] |
The
value of your investment in the Portfolio will fluctuate, which means you could lose money.
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| Market Risk |
Market Risk:
The Portfolio may incur losses due to declines in one or more markets in which it invests. These declines
may be the result of, among other things, political, regulatory, market, economic or social developments
affecting the relevant market(s). To the extent that such developments impact specific industries, market
sectors, countries or geographic regions, the Portfolio’s investments in such industries, market
sectors, countries and/or geographic regions can be expected to be particularly affected, especially
if such investments are a significant portion of its investment portfolio. In addition, turbulence in
financial markets and reduced liquidity in equity, credit and/or fixed income markets may negatively
affect many issuers, which could adversely affect the Portfolio. Global economies and financial markets
are increasingly interconnected, and conditions and events in one country, region or financial market
may adversely impact issuers worldwide. As a result, local, regional or global events such as war or
military conflict, acts of terrorism, the spread of infectious illness or other public health issues,
social unrest, supply chain disruptions, government defaults, government shutdowns, the imposition of
sanctions and other similar measures, recessions or other events could have a significant negative impact
on global economic and market conditions. For example, a public health or other emergency and aggressive
responses taken by many governments or voluntarily imposed by private parties, including closing borders,
restricting travel and imposing prolonged quarantines or similar restrictions, as well as the closure
of, or operational changes to, many retail and other businesses, may have severe negative impacts on
markets worldwide. Additionally, general market conditions may affect the value of a Portfolio’s
securities, including changes in interest rates, currency rates or monetary policies.
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| Issuer Risk |
Issuer Risk:
The value of a security may decline for a number of reasons which directly relate to the issuer, such
as management performance, financial leverage and reduced demand for the issuer’s goods or services,
as well as the historical and prospective earnings of the issuer and the value of its assets or factors
unrelated to the issuer’s value, such as investor perception.
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| Non-US Securities Risk |
Non-US Securities
Risk: The Portfolio’s performance will be influenced by political, social and
economic factors affecting the non-US countries and companies in which the Portfolio invests. Non-US
securities carry special risks, such as less developed or less efficient trading markets, political instability,
a lack of company information, differing auditing and legal standards, and, potentially, less liquidity.
Non-US securities may be subject to economic sanctions or other similar governmental actions or developments,
which could, among other things, effectively restrict or eliminate the Portfolio’s ability to purchase
or sell certain foreign securities. To the extent the Portfolio
holds securities subject to such actions, the securities may become difficult to value and/or less liquid
(or illiquid). In some cases, the securities may become worthless.
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| Emerging Market Risk |
Emerging Market Risk: Emerging market
countries generally have economic structures that are less diverse and mature, and political systems
that are less stable, than those of developed countries. The economies of countries with emerging markets
may be based predominantly on only a few industries, may be highly vulnerable to changes in local or
global trade conditions, and may suffer from extreme debt burdens or volatile inflation rates. The securities
markets of emerging market countries have historically been extremely volatile and less liquid than more
developed markets. These market conditions may continue or worsen. Investments in these countries may
be subject to political, economic, legal, market and currency risks. Significant devaluation of emerging
market currencies against the US dollar may occur subsequent to acquisition of investments denominated
in emerging market currencies.
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| Foreign Currency Risk |
Foreign Currency Risk: Investments denominated
in currencies other than US dollars may experience a decline in value, in US dollar terms, due solely
to fluctuations in currency exchange rates. The Portfolio’s investments denominated in such currencies
(particularly currencies of emerging markets countries), as well as any investments in currencies themselves,
could be adversely affected by delays in, or a refusal to grant, repatriation of funds or conversion
of currencies. Irrespective of any foreign currency exposure hedging, the Portfolio may experience a
decline in the value of its portfolio securities, in US dollar terms, due solely to fluctuations in currency
exchange rates. The Investment Manager does not intend to actively hedge the Portfolio’s foreign
currency exposure.
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| Value Investing Risk |
Value Investing Risk: Value investments are believed by the
Investment Manager to be undervalued, but may not realize their perceived value for extended periods
of time or may never realize their perceived value. These securities may respond differently to market
and other developments than other types of securities.
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| Large Cap Companies Risk |
Large Cap Companies Risk: Investments in
large cap companies may underperform other segments of the market when such other segments are in favor
or because such companies may be less responsive to competitive challenges and opportunities and may
be unable to attain high growth rates during periods of economic expansion.
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| Small and Mid Cap Companies Risk |
Small and Mid Cap
Companies Risk: Small and mid cap companies carry additional risks because their earnings tend
to be less predictable, their share prices more volatile and their securities less liquid than larger,
more established companies. The shares of small and mid cap companies tend to trade less frequently than
those of larger companies, which can have an adverse effect on the pricing of these securities and on
the ability to sell these securities when the Investment Manager deems it appropriate.
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| Securities Selection Risk |
Securities Selection
Risk: Securities and other investments selected by the Investment Manager for the Portfolio
may not perform to expectations. This could result in the Portfolio’s underperformance compared
to other funds with similar investment objectives or strategies.
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| Performance
Bar Chart and Table
|
The accompanying bar chart and table provide some indication
of the risks of investing in Lazard Retirement International Equity Portfolio by showing the Portfolio’s
year-by-year performance and its average annual performance compared to that of a broad measure of market
performance. The bar chart shows how the performance of the Portfolio’s Service Shares has varied
from year to year over the past 10 calendar years. Performance information does not reflect the fees
or charges imposed by the Participating Insurance Companies under the Policies, and such fees will have
the effect of reducing performance. Updated performance information is available at www.lazardassetmanagement.com
or by calling (800) 823-6300. The Portfolio’s past performance is not necessarily an indication
of how the Portfolio will perform in the future. As
a new share Class, past performance information is not available for Investor Shares as of the date of
this Prospectus. Investor Shares would have had annual returns substantially similar to those of Service
Shares because the shares are invested in the same portfolio of securities, and the annual returns would
differ only to the extent of the different expense ratios of the Classes.
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| Year-by-Year Total Returns for Service Shares As of 12/31
|
|
| | | Best Quarter: | 2022, Q4 | 15.55% | | | Worst Quarter: | 2020,
Q1 | -23.24% |
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| Average Annual Total Returns (for
the periods ended December 31, 2023)
|
Average Annual Total Returns - Lazard Retirement International Equity Portfolio
|
Label |
1 Year |
5 Years |
10 Years |
Since Inception |
Inception Date |
| Service |
|
15.88%
|
6.42%
|
2.98%
|
4.08%
|
Sep. 01, 1998
|
| MSCI EAFE Index |
MSCI
EAFE Index
|
18.24%
|
8.16%
|
4.28%
|
5.02%
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