Lazard Reports November 2021 Assets Under Management

Rhea-AI Summary

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $267.4 billion as of November 30, 2021. The results indicated market depreciation of $5.8 billion, foreign exchange depreciation of $3.4 billion, and net outflows of $3.1 billion during the month. Comparatively, the previous month’s AUM was $279.7 billion. These figures reflect ongoing challenges in maintaining asset levels amidst adverse market conditions.

Positive

• None.

Negative

• Net outflows of $3.1 billion could indicate investor concerns.
• Market depreciation contributed to a loss of $5.8 billion in AUM.
• Foreign exchange depreciation led to a reduction of $3.4 billion in AUM.

NEW YORK--(BUSINESS WIRE)-- Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of November 30, 2021 totaled approximately $267.4 billion. The month’s AUM included market depreciation of $5.8 billion, foreign exchange depreciation of $3.4 billion and net outflows of $3.1 billion.

LAZARD LTD
ASSETS UNDER MANAGEMENT (“AUM”)
(unaudited)
($ in millions)
		As of:
		November 30,		October 31,
		20211		2021
Equity		$214,605		$225,865
Fixed Income		46,481		47,703
Other		6,313		6,107
Total AUM		$267,399		$279,675

(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 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

View source version on businesswire.com: https://www.businesswire.com/news/home/20211210005039/en/

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 preliminary assets under management as of November 30, 2021?

Lazard's preliminary assets under management are approximately $267.4 billion.

What caused the decline in Lazard's assets under management in November 2021?

The decline was attributed to market depreciation of $5.8 billion, foreign exchange depreciation of $3.4 billion, and net outflows of $3.1 billion.

How did Lazard's AUM in November 2021 compare to October 2021?

Lazard's AUM decreased from $279.7 billion in October 2021 to $267.4 billion in November 2021.

What are the main factors affecting Lazard's AUM in the latest report?

The main factors include market depreciation, foreign exchange impacts, and net client outflows.