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Lazard's (LAZ) January AUM Falls on Market Depreciation
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Lazard Ltd. (LAZ - Free Report) recorded a 1.3% fall in preliminary assets under management (AUM) as of Jan 31, 2021, from December 2020. The total AUM balance aggregated $255.2 billion, marking a decline from the prior month’s $258.6 billion.
The January AUM entailed a market depreciation of $1.2 billion, negative foreign-exchange impact of $2 billion as well as net outflows of $1.1 billion.
Lazard’s equity AUM for January slid 1.7% from the prior month to $206.2 billion. Moreover, other assets edged down 1.2% sequentially to $5.1 billion. These declines were partially muted by marginal growth in fixed income to $43.8 billion.
Lazard can capitalize on its forte of organic growth, as highlighted by the bank’s revenue growth trend. Also, its prowess in the Financial Advisory and Asset Management segments, along with cost-containment measures, will help the company withstand any tailwinds that might occur due to economic uncertainties.
Shares of the company have gained 26% in the past six months compared with 25.8% growth witnessed by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM balance of $81.2 billion as of Jan 31, 2021, up 4.2% from the prior-month level. Net inflows of $2.06 billion were partly offset by a market depreciation of $0.59 billion and distributions of $207 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary January-end AUM balance of $1367.1 billion, up 1.3% from the previous-month end. Positive market returns aided this upswing, boosting the AUM by $2 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM balance of $1494.4 billion for January 2021. This reflected a 0.2% decrease from the $1498 billion recorded as of Dec 31, 2020.
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Lazard's (LAZ) January AUM Falls on Market Depreciation
Lazard Ltd. (LAZ - Free Report) recorded a 1.3% fall in preliminary assets under management (AUM) as of Jan 31, 2021, from December 2020. The total AUM balance aggregated $255.2 billion, marking a decline from the prior month’s $258.6 billion.
The January AUM entailed a market depreciation of $1.2 billion, negative foreign-exchange impact of $2 billion as well as net outflows of $1.1 billion.
Lazard’s equity AUM for January slid 1.7% from the prior month to $206.2 billion. Moreover, other assets edged down 1.2% sequentially to $5.1 billion. These declines were partially muted by marginal growth in fixed income to $43.8 billion.
Lazard can capitalize on its forte of organic growth, as highlighted by the bank’s revenue growth trend. Also, its prowess in the Financial Advisory and Asset Management segments, along with cost-containment measures, will help the company withstand any tailwinds that might occur due to economic uncertainties.
Shares of the company have gained 26% in the past six months compared with 25.8% growth witnessed by the industry.
Currently, Lazard sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM balance of $81.2 billion as of Jan 31, 2021, up 4.2% from the prior-month level. Net inflows of $2.06 billion were partly offset by a market depreciation of $0.59 billion and distributions of $207 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary January-end AUM balance of $1367.1 billion, up 1.3% from the previous-month end. Positive market returns aided this upswing, boosting the AUM by $2 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM balance of $1494.4 billion for January 2021. This reflected a 0.2% decrease from the $1498 billion recorded as of Dec 31, 2020.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>