U.S. markets open in 6 hours 23 minutes
  • S&P Futures

    3,710.50
    -21.50 (-0.58%)
     
  • Dow Futures

    29,595.00
    -155.00 (-0.52%)
     
  • Nasdaq Futures

    11,465.75
    -90.00 (-0.78%)
     
  • Russell 2000 Futures

    1,709.30
    -11.50 (-0.67%)
     
  • Crude Oil

    81.48
    -0.67 (-0.82%)
     
  • Gold

    1,655.40
    -14.60 (-0.87%)
     
  • Silver

    18.68
    -0.20 (-1.06%)
     
  • EUR/USD

    0.9666
    -0.0073 (-0.75%)
     
  • 10-Yr Bond

    3.7050
    0.0000 (0.00%)
     
  • Vix

    30.18
    -2.42 (-7.42%)
     
  • GBP/USD

    1.0782
    -0.0103 (-0.95%)
     
  • USD/JPY

    144.7490
    +0.6270 (+0.44%)
     
  • BTC-USD

    19,368.88
    +633.22 (+3.38%)
     
  • CMC Crypto 200

    442.36
    +13.58 (+3.17%)
     
  • FTSE 100

    7,005.39
    0.00 (0.00%)
     
  • Nikkei 225

    26,422.05
    +248.07 (+0.95%)
     

Lazard's (LAZ) January AUM Falls Due to Market Depreciation

·2 min read

Lazard Ltd. LAZ recorded a 5.5% fall in preliminary assets under management (AUM) as of Jan 31, 2022, from the previous month’s reading. The total AUM balance aggregated $258.7 billion, marking a decrease from the prior month’s $273.74 billion.

The January AUM entailed a market depreciation of $9.5 billion, a negative foreign-exchange impact of $1.5 billion and net outflows of $4.1 billion.

Lazard’s equity AUM for January decreased 6.5% from the prior month’s level to $206.59 billion. Moreover, a 1% decline in fixed income assets to $45.81 billion was recorded. Other assets also witnessed a 2.5% sequential dip to $6.29 billion.

Nonetheless, 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, LAZ’s prowess in the Financial Advisory and Asset Management segments plus cost-containment measures will help it withstand any headwind that might occur due to economic uncertainties.

The stock’s decline of 7.5% in the past year has been wider than the 5.2% decline witnessed by the industry.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

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

T. Rowe Price Group, Inc. TROW reported a preliminary AUM of $1.58 trillion as of Jan 31, 2022, reflecting a 6.5% decrease from the prior month’s $1.69 trillion.

TROW’s client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $2.2 billion in January 2022.

Franklin Resources, Inc. BEN announced a preliminary AUM for January 2022. BEN's month-end AUM of $1,521.8 billion represented a decline of 3.6% from the previous month’s tally.

Franklin's AUM was affected by the negative impacts of markets, while long-term net flows were flat.

Invesco IVZ announced a preliminary AUM for January 2022. IVZ's month-end AUM of $1,550.9 billion represented a decline of 3.7% from the previous month’s actuals.

Invesco's AUM was affected by unfavorable market returns, witnessing a decrease by $61 billion. Invesco's AUM declined $2.1 billion as a result of foreign exchange rate movements.


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

Invesco Ltd. (IVZ) : Free Stock Analysis Report

Lazard Ltd (LAZ) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research