LAZARD DEVELOPING MARKETS EQUITY INSTL

Ticker: LDMIX CUSIP: 52106N475 Class: EQUITY FUNDS

Janney Montgomery Scott LLC's Holding History (CIK: 0001329948)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 15,169 Value ($000) $172,619 Avg Close — Range —

Q1 2014

Shares 15,169 Value ($000) $172,619 Avg Close — Range —

Q4 2013

Shares 23,567 Value ($000) $278,332 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	15,169	$172,619	—	—
Q1 2014	15,169	$172,619	—	—
Q4 2013	23,567	$278,332	—	—