In their latest report, Lazard Asset Management highlights that the prolonged U.S. government shutdown, now the longest on record, is beginning to weigh on key sectors of the economy, while China’s weaker trade data underscores ongoing external pressures despite a sizable surplus. Meanwhile, Eurozone PMI figures surprised to the upside, with most major economies showing expansion in the services sector.
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 November 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.