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Lazard's (LAZ) February AUM Rises on Market Appreciation
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Shares of Lazard Ltd. (LAZ - Free Report) rallied 6.1% in response to the release of preliminary assets under management (AUM) balance as of Feb 28, 2021. The total AUM balance aggregated $260.7 billion, marking 2.2% growth from the prior month’s $255.2 billion.
February AUM gained from market appreciation of $5.6 billion as well as net inflows of $0.2 billion, partially offset by negative foreign-exchange impact of $0.3 billion.
Lazard’s equity AUM for February increased 1.7% from the prior month to $209.8 billion. Moreover, other assets edged up 4.7% sequentially to $5.3 billion. These uptrends were further supported by 3.9% growth in fixed income to $45.6 billion.
Lazard can capitalize on its organic growth, as highlighted by the bank’s rising revenue trend. Also, strength in the Financial Advisory and Asset Management segments, along with cost-containment measures, will help the company to withstand any headwinds that might occur due to economic uncertainties.
Shares of the company have gained 25% in the past six months compared with 33% growth witnessed by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM balance of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021. The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows.
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Lazard's (LAZ) February AUM Rises on Market Appreciation
Shares of Lazard Ltd. (LAZ - Free Report) rallied 6.1% in response to the release of preliminary assets under management (AUM) balance as of Feb 28, 2021. The total AUM balance aggregated $260.7 billion, marking 2.2% growth from the prior month’s $255.2 billion.
February AUM gained from market appreciation of $5.6 billion as well as net inflows of $0.2 billion, partially offset by negative foreign-exchange impact of $0.3 billion.
Lazard’s equity AUM for February increased 1.7% from the prior month to $209.8 billion. Moreover, other assets edged up 4.7% sequentially to $5.3 billion. These uptrends were further supported by 3.9% growth in fixed income to $45.6 billion.
Lazard can capitalize on its organic growth, as highlighted by the bank’s rising revenue trend. Also, strength in the Financial Advisory and Asset Management segments, along with cost-containment measures, will help the company to withstand any headwinds that might occur due to economic uncertainties.
Shares of the company have gained 25% in the past six months compared with 33% growth witnessed 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.
Performance of Other Asset Managers
Cohen & Steers (CNS - Free Report) reported preliminary AUM balance of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021. The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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