The present invention relates to a phosphazene compound [compound (L)] comprising a cyclophosphazene central core wherein each phosphorus atom of said core bears a substituent independently selected from: a) a chain (A), said chain (A) comprising a (per)fluoropolyether chain [chain (Rf)], one or more aromatic or heteroaromatic moieties [moiety/ies (Arm)] and, optionally, one or more hydroxy groups and b) a chain (B), said chain (B) comprising a (per)fluoropolyether chain [chain (Rf)] and one or more hydroxy groups with the proviso that at least one phosphorous atom of the central core is substituted with chain (A) and to mixtures of compounds (L). The invention further relates to methods for preparing compounds (L), to lubricant compositions comprising compounds (L) and to methods for lubricating magnetic recording media comprising applying a compound (L) or a lubricant compositions containing them to the surface of said medium.