Equity markets worldwide advanced in the quarter, as the brightening global outlook for interest rates boosted sentiment. After signaling a less restrictive monetary policy stance, the US Federal Reserve cut its benchmark interest rate by a larger-than-expected 50 basis

Lazard Asset Management is known for its global perspective on investing and its experience with global, regional and domestic portfolios. We believe in fostering a culture of constant dialogue between teams. The resulting views bring us the unique, firsthand market insights that are the key to our long-term success. At Lazard Asset Management having an entrepreneurial spirit means that our teams are independent, but supported by a central infrastructure. This central infrastructure allows teams to focus on what they do best. With over $229.7 billion in assets under management (as of December 31, 2020). We have offices located throughout the world. Note: Lazard Asset Management is not an analyst publishing actively on Seeking Alpha; rather, our editors excerpt and republish from Lazard Asset Management's publicly-available statements and letters. Lazard Asset Management is known for its global perspective on investing and its experience with global, regional and domestic portfolios. We believe in fostering a culture of constant dialogue between teams. The resulting views bring us the unique, firsthand market insights that are the key to our long-term success. At Lazard Asset Management having an entrepreneurial spirit means that our teams are independent, but supported by a central infrastructure. This central infrastructure allows teams to focus on what they do best. With over $229.7 billion in assets under management (as of December 31, 2020). We have offices located throughout the world. Note: Lazard Asset Management is not an analyst publishing actively on Seeking Alpha; rather, our editors excerpt and republish from Lazard Asset Management's publicly available statements and letters.