Lazard Asset Management Holds 684,428 Shares of IIF (7.2%)
Rhea-AI Filing Summary
Lazard Asset Management LLC reports holding 684,428 shares of Morgan Stanley India Investment Fund, representing 7.2% of the outstanding class. The filing shows Lazard has sole dispositive power over all 684,428 shares and sole voting power for 500,464 shares, with no shared voting or dispositive powers reported.
This submission is an amendment to a Schedule 13G and includes a certification that the securities were not acquired and are not held to change or influence control of the issuer, indicating the stake is reported as passive for regulatory purposes.
Positive
- 684,428 shares reported, representing 7.2% of the class, which meets the threshold for material disclosure
- Sole dispositive power for all 684,428 shares and sole voting power for 500,464 shares, indicating clear control over disposition and voting of most shares held
Negative
- None.
Insights
TL;DR: Lazard reports a material 7.2% passive stake with full dispositive control and substantial voting exposure.
The reported 684,428 shares equal 7.2% of the class, which is large enough to be material to holders and to register Lazard among significant investors in the issuer. The combination of sole dispositive power over 684,428 shares and sole voting power over 500,464 shares means Lazard can sell or otherwise direct disposition of the entire stake while retaining the ability to vote most of those shares. The filing is a Schedule 13G amendment and includes a certification that the position is not intended to influence control, which frames this as a regulatory passive disclosure rather than an activist move.
TL;DR: A significant passive ownership disclosure with clear statements that it is not for control; governance impact appears limited.
The statement explicitly certifies the holdings were not acquired to change or influence control, which under disclosure rules classifies the position as passive for reporting purposes. From a governance perspective, Lazard's sole voting power over 500,464 shares could allow meaningful input on routine shareholder votes, but the filing contains no indication of coordination with other holders or intent to pursue control. Absent further disclosures, this remains a substantial yet non-controlling stake.