Lazard Reports October 2022 Assets Under Management

Rhea-AI Summary

Lazard Ltd (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $204.6 billion as of October 31, 2022. This figure reflects a market appreciation of $8.0 billion, net outflows of $1.8 billion, and foreign exchange appreciation of $0.6 billion. The AUM report indicates an increase from $197.8 billion at the end of September 2022. In equity, AUM rose to $160.2 billion, while fixed income increased to $39.0 billion. Lazard continues to provide asset management and financial advisory services worldwide.

Positive

• Assets under management increased to approximately $204.6 billion from $197.8 billion.
• Market appreciation contributed positively with $8.0 billion in gains.
• Equity AUM saw a significant rise to $160.2 billion.

Negative

• Net outflows of $1.8 billion could indicate potential challenges in investor retention.

NEW YORK--(BUSINESS WIRE)-- Lazard Ltd (NYSE: LAZ) reported today that its preliminary assets under management (“AUM”) as of October 31, 2022 totaled approximately $204.6 billion. The month’s AUM included market appreciation of $8.0 billion, net outflows of $1.8 billion, and foreign exchange appreciation of $0.6 billion.

LAZARD LTD ASSETS UNDER MANAGEMENT (“AUM”) (unaudited) ($ in millions)
		As of:
		October 31,	September 30,
		20221	2022
Equity		$160,201	$153,709
Fixed Income		39,009	38,312
Other		5,374	5,745
Total AUM		$204,584	$197,766

(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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View source version on businesswire.com: https://www.businesswire.com/news/home/20221110005246/en/

Investor relations contact:

Alexandra Deignan +1 212 632 6886

alexandra.deignan@lazard.com

Media relations contact:

Zoe Butt +44 20 7448 2802

zoe.butt@lazard.com

Source: Lazard Ltd

FAQ

What is Lazard's assets under management as of October 31, 2022?

Lazard reported approximately $204.6 billion in assets under management as of October 31, 2022.

What were the key components of Lazard's AUM changes in October 2022?

The changes included market appreciation of $8.0 billion, net outflows of $1.8 billion, and foreign exchange appreciation of $0.6 billion.

How much did Lazard's equity assets under management increase?

Lazard's equity assets under management increased to $160.2 billion as of October 31, 2022.

What are the latest net outflows for Lazard in October 2022?

Lazard experienced net outflows of $1.8 billion in October 2022.