In this report, Lazard Asset Management reviews mixed global economic signals, including softening U.S. labour data and rising tariffs that cloud the outlook for growth and profits. It also covers slightly improved—but still fragile—manufacturing activity in China, and a historic surge in Japanese wage growth that signals a potential shift in inflation expectations.
Lazard Asset Management serves as the Portfolio Manager of the Caldwell-Lazard CorePlus Infrastructure Fund.
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The information contained herein is intended to provide you with general information related to investment alternatives and strategies and is not intended to be comprehensive investment advice applicable to the circumstances of a specific investor. Commentary and portfolio characteristics are the opinion of the Portfolio Manager based on market conditions as of July 2025. References or inferences to returns do not take into account any management fees, transaction costs, commissions, custodial fees, taxes or other costs that apply when purchasing securities. We strongly recommend consulting with a professional advisor prior to making investment decisions.