Lazard Reports June 2024 Assets Under Management
Lazard (NYSE: LAZ) has reported preliminary assets under management (AUM) of approximately $244.7 billion as of June 30, 2024. The figures include $2.5 billion in market appreciation, offset by $1.4 billion in net outflows and $1.4 billion in foreign exchange depreciation. The average AUM for the quarter ended June 30, 2024, was $245.3 billion. The breakdown of AUM by asset class as of June 30, 2024, is $190.426 billion in equity, $46.111 billion in fixed income, and $8.133 billion in other assets. These figures are preliminary and subject to adjustment.
- Market appreciation of $2.5 billion contributed positively to the AUM.
- Average AUM for the quarter ended June 30, 2024, stood at $245.3 billion.
- Net outflows amounted to $1.4 billion, reducing the total AUM.
- Foreign exchange depreciation further decreased AUM by $1.4 billion.
Insights
Lazard's latest report on its assets under management (AUM) reveals a slight decrease, totaling approximately
AUM is a key metric for investment firms, reflecting the total market value of assets managed on behalf of clients. Net outflows indicate that more money was withdrawn by clients than was deposited, a factor investors should monitor as it can signal clients' lack of confidence or shifts in investment strategy.
Although the overall change in AUM is minor, the net outflow may hint at underlying challenges. Market appreciation suggests positive portfolio performance, but foreign exchange depreciation points to potential international exposure risks. Investors should watch for these trends over subsequent reports to gauge longer-term implications.
In summary, while the AUM figures are relatively stable, the nuances in net flows and foreign exchange impacts warrant close attention.
LAZARD, INC. |
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ASSETS UNDER MANAGEMENT (“AUM”) |
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(unaudited) |
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($ in millions) |
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As of: |
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June 30, |
May 31, |
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20241 |
2024 |
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Equity |
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Fixed Income |
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46,111 |
46,362 |
Other |
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8,133 |
7,826 |
Total AUM |
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(1) Preliminary – subject to adjustment
About Lazard
Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in
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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 statements 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, Inc. 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, 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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View source version on businesswire.com: https://www.businesswire.com/news/home/20240711982277/en/
Investor:
Alexandra Deignan +1 212 632 6886
alexandra.deignan@lazard.com
Media:
Zoe Butt +44 20 7448 2802
zoe.butt@lazard.com
Aziz Nayani +1 212 632 6042
aziz.nayani@lazard.com
Source: Lazard, Inc.
FAQ
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