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Lazard's (LAZ) April AUM Falls 6.4% on Market Depreciation

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Lazard Ltd. LAZ recorded a 6.4% fall in preliminary assets under management (“AUM”) as of Apr 30, 2022, from the previous month’s reading. The total AUM balance aggregated $236.61 billion, marking a decrease from the prior month’s $252.68 billion.

The April AUM entailed a market depreciation of $9 billion, a negative foreign-exchange impact of $5.9 billion and net outflows of $1.2 billion.

Lazard’s equity AUM for April decreased 6.6% from the prior month’s level to $187.69 billion. Moreover, a 6.1% decline in fixed income assets to $42.26 billion was recorded. Other assets witnessed a marginal rise to $6.68 billion.

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

The stock has lost 32% in the past six months compared with 32.2% decline witnessed by the industry.

Zacks Investment Research
Zacks Investment Research


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Currently, Lazard carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Franklin Resources, Inc. BEN announced its preliminary AUM for April 2022. BEN's month-end AUM of $1,455.8 billion marked a 1.5% decline from the previous month’s tally.

Franklin's AUM was affected by negative impacts of the markets and long-term net outflows. This was partly offset by the acquisition of Lexington Partners.

Cohen & Steers CNS reported a preliminary AUM of $98 billion as of Apr 30, 2022, which suggests a decline of 4% from the prior month’s level. Market depreciation of $3.9 billion and distributions of $188 million were partially offset by net inflows of $3 million.

CNS recorded total institutional accounts of $38.9 billion at the end of April, down 5.1% from the March-end level. Of the total institutional accounts, advisory accounts were $22.5 billion, while the rest were sub-advisory.


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