Lazard World Trust Fund is an investment company registered in Luxembourg. Its investment objective is to achieve long-term capital appreciation by investing in companies whose shares trade at a discount to the underlying net asset value. The company mainly invests in closed-end funds, investment trusts, holding companies and other companies which are traded internationally. It focuses on providing broad exposure to equity markets through investment in closed-ended funds and quoted companies. The company may use gearing and hedging by holding positions by selling short stock indices, stocks, and shares of exchange traded funds.