Lazard Reports January 2021 Assets Under Management

Rhea-AI Summary

Lazard Ltd (NYSE: LAZ) announced preliminary assets under management (AUM) of approximately $255.2 billion as of January 31, 2021. This figure reflects a decrease due to market depreciation of $1.2 billion, foreign exchange depreciation of $1.1 billion, and net outflows of $1.1 billion. The AUM comprises $206.2 billion in equity, $43.9 billion in fixed income, and $5.1 billion in other assets. Comparatively, total AUM was $258.6 billion on December 31, 2020.

Positive

• Total AUM at approximately $255.2 billion indicates substantial management capacity.
• Equity AUM remains high at $206.2 billion despite recent depreciation.

Negative

• Net outflows of $1.1 billion could signal decreased investor confidence.
• Market depreciation and foreign exchange losses resulted in a total decrease of $2.3 billion in AUM.

Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of January 31, 2021 totaled approximately $255.2 billion. The month’s AUM included market depreciation of $1.2 billion, foreign exchange depreciation of $1.1 billion and net outflows of $1.1 billion.

LAZARD LTD
ASSETS UNDER MANAGEMENT (“AUM”)
(unaudited)
($ in millions)
		As of:
		January 31,		December 31,
		20211		2020
Equity		$206,246		$209,732
Fixed Income		43,872		43,784
Other		5,064		5,126
Total AUM		$255,182		$258,642

(1) Preliminary – subject to adjustment

About Lazard

Lazard, one of the world's preeminent financial advisory and asset management firms, operates from more than 40 cities across 25 countries in North America, Europe, Asia, Australia, Central and South America. 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.

LAZ_CPE

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FAQ

What was Lazard's assets under management as of January 31, 2021?

Lazard's assets under management were approximately $255.2 billion.

What caused the decrease in Lazard's AUM for January 2021?

The decrease was attributed to market depreciation of $1.2 billion, foreign exchange depreciation of $1.1 billion, and net outflows of $1.1 billion.

How does Lazard's equity AUM compare to the previous month?

As of January 31, 2021, Lazard's equity AUM was $206.2 billion, down from $209.7 billion on December 31, 2020.

What were the components of Lazard's total AUM?

Lazard's total AUM included $206.2 billion in equity, $43.9 billion in fixed income, and $5.1 billion in other assets.

What are the implications of Lazard's net outflows?

Net outflows of $1.1 billion may indicate a potential decrease in investor confidence and could impact future AUM.