UK Markets close in 40 mins
  • FTSE 100

    7,389.98
    +87.24 (+1.19%)
     
  • FTSE 250

    19,835.95
    +146.93 (+0.75%)
     
  • AIM

    956.64
    +9.47 (+1.00%)
     
  • GBP/EUR

    1.1822
    +0.0040 (+0.34%)
     
  • GBP/USD

    1.2495
    +0.0020 (+0.1587%)
     
  • BTC-GBP

    23,694.55
    +467.96 (+2.01%)
     
  • CMC Crypto 200

    650.34
    -23.03 (-3.42%)
     
  • S&P 500

    3,901.36
    +0.57 (+0.01%)
     
  • DOW

    31,261.90
    +8.77 (+0.03%)
     
  • CRUDE OIL

    110.35
    +0.46 (+0.42%)
     
  • GOLD FUTURES

    1,845.10
    +3.90 (+0.21%)
     
  • NIKKEI 225

    26,739.03
    +336.19 (+1.27%)
     
  • HANG SENG

    20,717.24
    +596.56 (+2.96%)
     
  • DAX

    13,981.91
    +99.61 (+0.72%)
     
  • CAC 40

    6,285.24
    +12.53 (+0.20%)
     

Lazard's (LAZ) November AUM Falls on Market Depreciation

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2-min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Lazard Ltd. LAZ recorded a 4.4% fall in preliminary assets under management (AUM) as of Nov 30, 2021, from the previous month’s reading. The total AUM balance aggregated $267.4 billion, marking a decrease from the prior month’s $279.7 billion.

The November AUM entailed a market depreciation of $5.8 billion, a negative foreign-exchange impact of $3.4 billion and net outflows of $3.1 billion.

Lazard’s equity AUM for November decreased 5% from the prior month’s level to $214.6 billion. Moreover, a 2.6% decline in fixed income assets to $46.5 billion was also recorded. Nonetheless, other assets witnessed a 3.4% sequential rise, to $6.3 billion.

Lazard can capitalize on its forte of organic growth, highlighted by a robust revenue growth trend, which is getting support from a solid AUM balance. Also, its prowess in the Financial Advisory and Asset Management segments plus cost-containment measures will help LAZ withstand any headwind that might occur due to economic uncertainties.

Shares of Lazard have gained 6.5% in the past year, underperforming 17.8% growth witnessed by the industry.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

Currently, Lazard carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Some other firms that released monthly data are T. Rowe Price Group, Inc. TROW, Artisan Partners Asset Management Inc. APAM and Franklin Resources BEN. At present, T. Rowe Price and Artisan Partners have a Zacks Rank of 3, while Franklin Resources carries a Zacks Rank #2 (Buy).

TROW reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month’s $1.67 trillion.

APAM reported a preliminary AUM of $169.2 billion as of Nov 30, 2021. Artisan Funds and Artisan Global Funds aggregated $82.2 billion of the total AUM, while separate accounts and other AUM accounted for $87 billion.

BEN recorded a preliminary AUM balance of $ 1,546.8 billion for November 2021. This highlighted a marginal rise from $1,561.7 billion recorded as of Oct 31, 2021.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Franklin Resources, Inc. (BEN) : Free Stock Analysis Report

T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report

Lazard Ltd (LAZ) : Free Stock Analysis Report

Artisan Partners Asset Management Inc. (APAM) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting