SCHEDULE 13G/A: First Trust Entities Disclose 12.68% Passive Stake in Lazard Global Total Return and Income Fund

First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation have jointly disclosed a passive beneficial ownership of 1,650,167 common shares, representing 12.68% of Lazard Global Total Return and Income Fund, Inc., as of December 31, 2024.

Summary

• First Trust Portfolios L.P., First Trust Advisors L.P., and The Charger Corporation jointly filed an Amendment No. 14 to Schedule 13G regarding their beneficial ownership in Lazard Global Total Return and Income Fund, Inc.
• As of December 31, 2024, the reporting persons collectively beneficially own 1,650,167 common shares of Lazard Global Total Return and Income Fund, Inc.
• This aggregate amount represents 12.68% of the issuer's common stock class.
• The shares are primarily held by unit investment trusts sponsored by First Trust Portfolios L.P. and other registered investment companies, pooled investment vehicles, and/or separately managed accounts for which First Trust Advisors L.P. serves as investment advisor or sub-advisor.
• The reporting persons disclaim beneficial ownership of these shares, as voting power generally rests with the trustee of the unit investment trusts, and the shares are not held for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a routine beneficial ownership disclosure (Schedule 13G) indicating a significant passive stake. It contains no operational or financial performance updates, thus maintaining a neutral sentiment.

Positives

• The disclosure indicates significant institutional ownership by First Trust entities, which can be viewed as a vote of confidence or strategic allocation in Lazard Global Total Return and Income Fund, Inc.
• The filing explicitly states that the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a stable, passive investment by a major financial institution.

Future Outlook

NA

Industry Context

This Schedule 13G filing is a routine disclosure of significant passive ownership by institutional investors in a publicly traded fund. It reflects standard compliance with SEC regulations for beneficial ownership reporting and indicates continued institutional interest in closed-end funds like Lazard Global Total Return and Income Fund, Inc.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant institutional ownership, which can offer insights into the fund's investor base.
• Investment Professionals: Offers data on institutional holdings, which can be used for market analysis and understanding investor sentiment towards the fund.

Key Dates

Keywords

Lazard Global Total Return and Income Fund, First Trust Portfolios, First Trust Advisors, The Charger Corporation, Schedule 13G, beneficial ownership, institutional investment, closed-end fund, unit investment trust