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Lazard, Inc. (symbol: LAZ) is one of the world’s leading financial advisory and asset management firms. With a history that dates back to 1848, Lazard operates in 43 cities across 27 countries, including North America, Europe, Asia, Australia, Central, and South America. The firm's global presence and long-standing reputation make it a significant player in the financial services industry.
Lazard offers a wide array of services, including advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance. The company also provides comprehensive asset management services to corporations, partnerships, institutions, governments, and individuals. Notably, the firm’s revenue is nearly evenly split between financial advisory and asset management, with a strong emphasis on international equities in their asset management division.
The company's asset management business, which constitutes over 80% of its assets under management, is primarily focused on institutional clients. Geographically, Lazard generates approximately 60% of its revenue from the Americas, 35% from the EMEA region, and 5% from the Asia-Pacific.
With over 3,000 employees worldwide, Lazard continues to thrive by leveraging its deep industry expertise and global network. The firm's current projects and partnerships demonstrate its ongoing commitment to delivering high-value financial solutions. For the latest updates and relevant information about Lazard’s performance, events, and developments, you can follow their social media disclosures.
Lazard, Inc. (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $247.7 billion as of September 30, 2024. The month's AUM included market appreciation of $3.0 billion, foreign exchange appreciation of $1.5 billion, and net outflows of $1.3 billion. The preliminary average AUM for the quarter ended September 30, 2024, was $246.0 billion.
The AUM breakdown as of September 30, 2024, was:
- Equity: $191,532 million
- Fixed Income: $47,933 million
- Other: $8,192 million
These figures represent an increase from August 31, 2024, when total AUM was $244,341 million.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share, payable on October 22, 2024, to shareholders of record on October 11, 2024. The distribution comprises 90% from net realized long-term capital gains and 10% return of capital. The Fund's average annual total return for the 5-year period ending August 31, 2024, is 10.07%, with an annualized current distribution rate of 9.48% of NAV.
The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60 to 80 US and non-US equity securities, emerging market currencies, and debt obligations. As of August 31, 2024, Lazard Asset Management and affiliated companies managed $244.3 billion in client assets.
Lazard (NYSE: LAZ) reported preliminary assets under management (AUM) of approximately $244.3 billion as of August 31, 2024. The month saw net outflows of $7.5 billion, market appreciation of $2.8 billion, and foreign exchange appreciation of $3.0 billion. Notably, gross outflows included about $7 billion from a single client restructuring its developed market assets into passive strategies.
The AUM breakdown as of August 31, 2024, was: Equity at $188,764 million, Fixed Income at $46,633 million, and Other at $8,944 million. Compared to July 31, 2024, Equity AUM decreased, while Fixed Income and Other categories saw increases.
Lazard Asset Management has announced the appointment of Robert Forsyth as Managing Director and Global Head of ETFs. Based in New York, Forsyth will lead the development and expansion of Lazard's active ETF platform. He joins from State Street Global Advisors, where he was Global Head of ETF strategy, bringing over 20 years of experience in exchange traded products.
This strategic move aligns with Lazard's plan to evolve its investment platform and distribution capabilities. The firm launched its first ETF product, the Lazard Global Listed Infrastructure Active ETF, for Australian investors in June 2024. Lazard aims to leverage Forsyth's expertise to accelerate its ambitions in the ETF space and bring sophisticated investment products to a wider range of clients through exchange traded products.
Lazard Global Total Return and Income Fund (NYSE:LGI) has declared a monthly distribution of $0.14941 per share, payable on September 23, 2024, to shareholders of record on September 11, 2024. The distribution comprises 34% net realized long-term capital gains and 66% return of capital. The Fund's annualized current distribution rate is 9.70% of NAV as of July 31, 2024.
Key performance metrics include:
- 5-year average annual total return: 8.98%
- Fiscal year-to-date cumulative total return: 7.60%
- Cumulative fiscal year distributions: 4.20% of NAV
Lazard (NYSE: LAZ) reported its preliminary assets under management (AUM) for July 2024, totaling approximately $246.1 billion. The month's AUM included net outflows of $3.6 billion, market appreciation of $3.5 billion, and foreign exchange appreciation of $1.5 billion. The breakdown of AUM as of July 31, 2024, was:
- Equity: $192,176 million
- Fixed Income: $45,775 million
- Other: $8,153 million
Compared to June 30, 2024, total AUM increased from $244,670 million to $246,104 million.
Lazard (NYSE: LAZ) reported second-quarter and first-half 2024 results, with net revenue of $685 million for Q2 and $1,450 million for H1. Financial Advisory achieved record first-half adjusted net revenue of $855 million, up 38% year-over-year. Asset Management reported quarter-end AUM of $245 billion. Q2 adjusted net income was $53 million or $0.52 per share, while H1 adjusted net income reached $119 million or $1.17 per share. The company is investing in talent to support long-term growth. Lazard returned $192 million to shareholders in H1 2024 through dividends and share repurchases. The Board authorized an additional $200 million share repurchase program.
Lazard (NYSE: LAZ) has announced a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend will be payable on August 16, 2024, to stockholders of record on August 5, 2024. This announcement demonstrates Lazard's commitment to returning value to its shareholders through consistent dividend payments. The declaration of a dividend is often seen as a positive sign of a company's financial health and confidence in its future prospects.
Lazard Global Total Return and Income Fund (NYSE:LGI) has confirmed a monthly distribution of $0.14941 per share on its outstanding common stock, payable on August 22, 2024. The distribution is 100% sourced from net realized long-term capital gains. For the fiscal year to date, 38% of distributions came from long-term capital gains, while 62% was return of capital.
The Fund's 5-year average annual total return as of June 30, 2024, was 8.63%, with an annualized current distribution rate of 6.85% of NAV. The Fund's investment objective is total return, consisting of capital appreciation and current income. It invests in a portfolio of 60-80 US and non-US equity securities, emerging market currencies, and debt obligations.
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.
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