Lazard Ltd. (LAZ - Free Report) announced its preliminary assets under management (AUM) balance of $234.6 billion as of Apr 30. Driven by favorable market returns, this reflected a 1.1% increase from the prior month’s $232.1 billion.
The April AUM entailed a market depreciation of $2 billion, foreign-exchange appreciation of $0.6 billion and net outflows of $0.1 billion.
Lazard’s equity AUM for April increased 1% from the prior month to $180.2 billion. Also, fixed-income AUM of $46 billion increased 1.3% sequentially. Further, other assets increased 3.9% to $8.4 billion.
Lazard’s investment in the Asset Management segment, aimed at scaling the platform and introducing investment strategies to enhance its competitive edge, is a strategic fit. However, increased dependence on advisory revenues makes it vulnerable to economic doldrums. Further, continued net outflows over the past months are major concerns.
The stock has lost 25.5% over the past three months compared with a 15.2% decline witnessed by the industry.
The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,420.7 billion for April 2023. This reflected a marginal decline from $1,422.1 billion recorded as of Mar 31.
BEN’s cash management net outflows resulted in the downside offsetting positive impacts of market and the flat long-term net inflows. The long-term net inflows included a low-fee $3.2 billion equity mandate.
Invesco (IVZ - Free Report) announced preliminary AUM for April 2023. The company’s month-end AUM of $1,484.3 billion represented a marginal increase from the previous month.
IVZ’s AUM was positively impacted by favorable market returns which increased it by $5 billion. Money market net inflows were $1.4 billion. Invesco experienced net long-term outflows of $2.2 billion and non-management fee-earning net outflows of $2.1 billion. Owing to foreign exchange rate movements, AUM decreased $0.4 billion.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
Lazard Ltd. (LAZ - Free Report) announced its preliminary assets under management (AUM) balance of $234.6 billion as of Apr 30. Driven by favorable market returns, this reflected a 1.1% increase from the prior month’s $232.1 billion.
The April AUM entailed a market depreciation of $2 billion, foreign-exchange appreciation of $0.6 billion and net outflows of $0.1 billion.
Lazard’s equity AUM for April increased 1% from the prior month to $180.2 billion. Also, fixed-income AUM of $46 billion increased 1.3% sequentially. Further, other assets increased 3.9% to $8.4 billion.
Lazard’s investment in the Asset Management segment, aimed at scaling the platform and introducing investment strategies to enhance its competitive edge, is a strategic fit. However, increased dependence on advisory revenues makes it vulnerable to economic doldrums. Further, continued net outflows over the past months are major concerns.
The stock has lost 25.5% over the past three months compared with a 15.2% decline witnessed by the industry.
The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,420.7 billion for April 2023. This reflected a marginal decline from $1,422.1 billion recorded as of Mar 31.
BEN’s cash management net outflows resulted in the downside offsetting positive impacts of market and the flat long-term net inflows. The long-term net inflows included a low-fee $3.2 billion equity mandate.
Invesco (IVZ - Free Report) announced preliminary AUM for April 2023. The company’s month-end AUM of $1,484.3 billion represented a marginal increase from the previous month.
IVZ’s AUM was positively impacted by favorable market returns which increased it by $5 billion. Money market net inflows were $1.4 billion. Invesco experienced net long-term outflows of $2.2 billion and non-management fee-earning net outflows of $2.1 billion. Owing to foreign exchange rate movements, AUM decreased $0.4 billion.
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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