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Lazard's (LAZ) May AUM Increases on Market Appreciation
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Lazard Ltd. (LAZ - Free Report) recorded a 1.5% rise in preliminary assets under management (AUM), as of May 31, 2021, from the previous month. The total AUM balance aggregated $278.6 billion, marking an increase from the prior month’s $274.4 billion.
The May AUM entailed a market appreciation of $3.4 billion, positive foreign-exchange impact of $1.9 billion as well as net outflows of $1.1 billion.
Lazard’s equity AUM for May rose 1.5% from the prior month to $226.03 billion. Moreover, other assets climbed 2.4% sequentially to $5.47 billion. Apart from these gains, a 1.6% increase in fixed income to $47.06 billion was also recorded.
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 headwind that might occur due to economic uncertainties.
Shares of the company have gained 12.9% in the past six months compared with 26.2% growth witnessed by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM balance of $94.2 billion as of May 31, 2021, up 1% from the prior-month level. Net inflows of $760 billion and market appreciation of $815 million were partly offset by distributions of $201 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary May-end AUM balance of $1,505.1 billion, up 3.2% from the previous-month end. Positive market returns aided this upswing, boosting the AUM by $10 billion.
Franklin Resources (BEN - Free Report) registered preliminary AUM balance of $1543. billion for May 2021. This reflected 1% growth from the $1529.3 billion recorded as of Apr 30, 2021.
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Lazard's (LAZ) May AUM Increases on Market Appreciation
Lazard Ltd. (LAZ - Free Report) recorded a 1.5% rise in preliminary assets under management (AUM), as of May 31, 2021, from the previous month. The total AUM balance aggregated $278.6 billion, marking an increase from the prior month’s $274.4 billion.
The May AUM entailed a market appreciation of $3.4 billion, positive foreign-exchange impact of $1.9 billion as well as net outflows of $1.1 billion.
Lazard’s equity AUM for May rose 1.5% from the prior month to $226.03 billion. Moreover, other assets climbed 2.4% sequentially to $5.47 billion. Apart from these gains, a 1.6% increase in fixed income to $47.06 billion was also recorded.
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 headwind that might occur due to economic uncertainties.
Shares of the company have gained 12.9% in the past six months compared with 26.2% growth witnessed by the industry.
Currently, Lazard carries a Zacks Rank #3 (Hold). 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 $94.2 billion as of May 31, 2021, up 1% from the prior-month level. Net inflows of $760 billion and market appreciation of $815 million were partly offset by distributions of $201 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary May-end AUM balance of $1,505.1 billion, up 3.2% from the previous-month end. Positive market returns aided this upswing, boosting the AUM by $10 billion.
Franklin Resources (BEN - Free Report) registered preliminary AUM balance of $1543. billion for May 2021. This reflected 1% growth from the $1529.3 billion recorded as of Apr 30, 2021.
+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 >>