We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Lazard's (LAZ) July AUM Improves on Favorable Market Gains
Read MoreHide Full Article
Lazard Ltd. (LAZ - Free Report) recorded a 3.6% rise in preliminary assets under management (AUM) as of Jul 31, 2020, from the prior month. Total AUM came in at $222.5 billion, up from the June 2020 figure of $214.7 billion.
The July AUM displayed a $4.5-billion market appreciation and a favorable foreign-exchange impact of $4.7 billion. These positives were partially offset by net outflows of $1.4 billion.
Lazard’s equity AUM at the end of July grew 2.9% from the prior month to $178.6 billion. Also, other assets rose 4.7% to $4.5 billion. Further, fixed income AUM climbed 6.8% on a sequential basis to $39.4 billion.
Lazard is well positioned to grow organically on the strength of its Financial Advisory and Asset Management segments. However, the absence of continued growth in equity markets and stringent regulations remain headwinds.
Shares of the company have gained 30.2% in the past three months compared with 20.5% growth registered by the industry.
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.43 trillion for July. Results displayed a 2.9% increase from the $1.39 trillion recorded as of Jun 30, 2020. Increased AUM includes about $797 billion from the acquisition of Legg Mason, closed on Jul 31, 2020.
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary AUM of $1.28 trillion for July 2020. The figure reflects a 4.9% jump from the $1.22 trillion recorded on Jun 30, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.6 billion in July.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
Image: Bigstock
Lazard's (LAZ) July AUM Improves on Favorable Market Gains
Lazard Ltd. (LAZ - Free Report) recorded a 3.6% rise in preliminary assets under management (AUM) as of Jul 31, 2020, from the prior month. Total AUM came in at $222.5 billion, up from the June 2020 figure of $214.7 billion.
The July AUM displayed a $4.5-billion market appreciation and a favorable foreign-exchange impact of $4.7 billion. These positives were partially offset by net outflows of $1.4 billion.
Lazard’s equity AUM at the end of July grew 2.9% from the prior month to $178.6 billion. Also, other assets rose 4.7% to $4.5 billion. Further, fixed income AUM climbed 6.8% on a sequential basis to $39.4 billion.
Lazard is well positioned to grow organically on the strength of its Financial Advisory and Asset Management segments. However, the absence of continued growth in equity markets and stringent regulations remain headwinds.
Shares of the company have gained 30.2% in the past three months compared with 20.5% growth registered by the industry.
Currently, Lazard carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Franklin Resources (BEN - Free Report) announced preliminary AUM by its subsidiaries of $1.43 trillion for July. Results displayed a 2.9% increase from the $1.39 trillion recorded as of Jun 30, 2020. Increased AUM includes about $797 billion from the acquisition of Legg Mason, closed on Jul 31, 2020.
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary AUM of $1.28 trillion for July 2020. The figure reflects a 4.9% jump from the $1.22 trillion recorded on Jun 30, 2020. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.6 billion in July.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>