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Lazard Reports June 2024 Assets Under Management

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Lazard (NYSE: LAZ) has reported preliminary assets under management (AUM) of approximately $244.7 billion as of June 30, 2024. The figures include $2.5 billion in market appreciation, offset by $1.4 billion in net outflows and $1.4 billion in foreign exchange depreciation. The average AUM for the quarter ended June 30, 2024, was $245.3 billion. The breakdown of AUM by asset class as of June 30, 2024, is $190.426 billion in equity, $46.111 billion in fixed income, and $8.133 billion in other assets. These figures are preliminary and subject to adjustment.

Positive
  • Market appreciation of $2.5 billion contributed positively to the AUM.
  • Average AUM for the quarter ended June 30, 2024, stood at $245.3 billion.
Negative
  • Net outflows amounted to $1.4 billion, reducing the total AUM.
  • Foreign exchange depreciation further decreased AUM by $1.4 billion.

Insights

Lazard's latest report on its assets under management (AUM) reveals a slight decrease, totaling approximately $244.7 billion as of June 30, 2024, down from $245 billion the previous month. This marginal drop is largely balanced by market appreciation of $2.5 billion, despite net outflows of $1.4 billion and foreign exchange depreciation of $1.4 billion.

AUM is a key metric for investment firms, reflecting the total market value of assets managed on behalf of clients. Net outflows indicate that more money was withdrawn by clients than was deposited, a factor investors should monitor as it can signal clients' lack of confidence or shifts in investment strategy.

Although the overall change in AUM is minor, the net outflow may hint at underlying challenges. Market appreciation suggests positive portfolio performance, but foreign exchange depreciation points to potential international exposure risks. Investors should watch for these trends over subsequent reports to gauge longer-term implications.

In summary, while the AUM figures are relatively stable, the nuances in net flows and foreign exchange impacts warrant close attention.

NEW YORK--(BUSINESS WIRE)-- Lazard, Inc. (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of June 30, 2024 totaled approximately $244.7 billion. The month’s AUM included market appreciation of $2.5 billion, net outflows of $1.4 billion and foreign exchange depreciation of $1.4 billion. Preliminary average AUM for the quarter ended June 30, 2024 was $245.3 billion.

LAZARD, INC.

ASSETS UNDER MANAGEMENT (“AUM”)

(unaudited)

($ in millions)

 

 

As of:

 

June 30,

May 31,

 

20241

2024

Equity

 

$190,426

$190,820

Fixed Income

 

46,111

46,362

Other

 

8,133

7,826

Total AUM

 

$244,670

$245,008

(1) Preliminary – subject to adjustment

About Lazard

Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions, corporations, governments, partnerships, family offices, and high net worth individuals. For more information, please visit www.lazard.com.

Cautionary Note Regarding Forward-Looking Statements:

This press release contains forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “target,” “goal,” or “continue,” and the negative of these terms and other comparable terminology. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance based on our strategies, business plans and initiatives and anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by these forward-looking statements.

These factors include, but are not limited to, those discussed in our Annual Report on Form 10-K under Item 1A “Risk Factors,” and also discussed from time to time in our reports on Forms 10-Q and 8-K, including the following:

  • A decline in general economic conditions or the global or regional financial markets;
  • A decline in our revenues, for example due to a decline in overall mergers and acquisitions (M&A) activity, our share of the M&A market or our assets under management (AUM);
  • Losses caused by financial or other problems experienced by third parties;
  • Losses due to unidentified or unanticipated risks;
  • A lack of liquidity, i.e., ready access to funds, for use in our businesses; and
  • Competitive pressure on our businesses and on our ability to retain and attract employees at current compensation levels.

Although we believe the statements reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this release to conform our prior statements to actual results or revised expectations and we do not intend to do so.

Lazard, Inc. is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, Lazard and its operating companies use their websites, and other social media sites to convey information about their businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information, and the posting of updates of assets under management in various mutual funds, hedge funds and other investment products managed by Lazard Asset Management LLC and Lazard Frères Gestion SAS. Investors can link to Lazard and its operating company websites through www.lazard.com.

LAZ-CPE

Investor:

Alexandra Deignan +1 212 632 6886

alexandra.deignan@lazard.com

Media:

Zoe Butt +44 20 7448 2802

zoe.butt@lazard.com

Aziz Nayani +1 212 632 6042

aziz.nayani@lazard.com

Source: Lazard, Inc.

FAQ

What is Lazard's (NYSE: LAZ) total assets under management as of June 30, 2024?

Lazard's total assets under management as of June 30, 2024, are approximately $244.7 billion.

What factors influenced Lazard's AUM in June 2024?

Lazard's AUM in June 2024 was influenced by $2.5 billion in market appreciation, $1.4 billion in net outflows, and $1.4 billion in foreign exchange depreciation.

How much did Lazard's equity AUM total at the end of June 2024?

Lazard's equity AUM totaled $190.426 billion at the end of June 2024.

What was the average AUM for Lazard in the quarter ended June 30, 2024?

The average AUM for Lazard in the quarter ended June 30, 2024, was $245.3 billion.

What is the breakdown of Lazard's AUM by asset class as of June 30, 2024?

As of June 30, 2024, Lazard's AUM breakdown is $190.426 billion in equity, $46.111 billion in fixed income, and $8.133 billion in other assets.

Lazard, Inc.

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