Lazard Reports December 2022 Assets Under Management

Rhea-AI Summary

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $216.1 billion as of December 31, 2022. The AUM report reflects a market depreciation of $5.7 billion, foreign exchange appreciation of $2.9 billion, and net outflows of $2.1 billion. The average AUM for the quarter stood at $211.2 billion. This financial performance highlights challenges in maintaining AUM amidst market fluctuations.

Positive

• Average AUM for the quarter ended December 31, 2022, was $211.2 billion.
• AUM included foreign exchange appreciation of $2.9 billion.
• Total AUM at $216.1 billion indicates significant asset management size.

Negative

• Market depreciation of $5.7 billion negatively affected AUM.
• Net outflows totaled $2.1 billion, indicating potential investor confidence issues.

NEW YORK--(BUSINESS WIRE)-- Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of December 31, 2022 totaled approximately $216.1 billion. The month’s AUM included market depreciation of $5.7 billion, foreign exchange appreciation of $2.9 billion and net outflows of $2.1 billion. Preliminary average assets under management for the quarter ended December 31, 2022 were $211.2 billion.

LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)
		As of:
		December 31,		November 30,
		20221		2022
Equity		$167,395		$173,578
Fixed Income		43,386		42,130
Other		5,344		5,323
Total AUM		$216,125		$221,031

(1) Preliminary – subject to adjustment

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from 41 cities across 26 countries in North, Central and South America, Europe, Asia and Australia. With origins dating to 1848, the firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals. For more information, please visit www.lazard.com. Follow Lazard at @Lazard.

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 growth 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 expectations 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 Ltd 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, Lazard’s Twitter account (twitter.com/Lazard) 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.

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Investor relations:

Alexandra Deignan +1 212 632 6886

alexandra.deignan@lazard.com

Media relations:

Zoe Butt +44 20 7448 2802

zoe.butt@lazard.com

Source: Lazard Ltd

FAQ

What are Lazard's total assets under management as of December 31, 2022?

Lazard reported total assets under management of approximately $216.1 billion as of December 31, 2022.

How much did Lazard's assets under management decrease due to market depreciation?

Lazard experienced a market depreciation of $5.7 billion affecting their assets under management.

What was the average AUM for Lazard in the fourth quarter of 2022?

The preliminary average assets under management for the quarter ended December 31, 2022, were $211.2 billion.

Did Lazard experience any net outflows in December 2022?

Yes, Lazard reported net outflows of $2.1 billion in December 2022.

What factors contributed to Lazard's change in assets under management?

Factors included market depreciation of $5.7 billion and foreign exchange appreciation of $2.9 billion.