Lazard's AUM balance declined in November due to net outflows and foreign exchange depreciation

From Nasdaq: 2024-12-11 10:12:00

Lazard, Inc. reported a preliminary AUM balance of $234.4 billion for November 2024, a 0.6% decrease from the previous month due to net outflows and foreign exchange depreciation. Equity assets decreased to $181.8 billion, fixed-income assets to $44.5 billion, and other assets to $8 billion.

Cohen & Steers, Inc. reported a rise in AUM to $91.4 billion in November, driven by market appreciation. Franklin Resources, Inc. reported an AUM of $1.65 trillion, a 1.2% increase from the prior month, despite long-term net outflows. Lazard’s share price performance has outpaced industry growth in the past six months.

Lazard currently holds a Zacks Rank #4 (Sell). The company’s heavy reliance on financial advisory fees and ongoing net outflows may impact top-line growth. However, cost-management efforts are expected to support the bottom line. Explore Zacks’ portfolio services with access to all picks for just $1.



Read more at Nasdaq: Lazard’s November AUM Balance Declines Sequentially on Net Outflows