Lazard to Convert $138 Million High Yield Mutual Fund Into ETF

Lazard will convert its $138.1 million Lazard US High Yield Portfolio from a mutual fund into the Lazard US High Yield ETF through a tax-free reorganization expected to close around November 6, 2026. The new ETF will retain the same investment objective, fundamental policies, investment strategy, portfolio managers, and investment adviser. The conversion is intended to give existing shareholders access to the strategy in an ETF wrapper, offering lower costs, greater tax efficiency, intraday trading, and daily portfolio transparency without requiring action from most shareholders.