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.
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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
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.
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