Lazard Ltd. (LAZ Quick QuoteLAZ - Free Report) recorded a marginal rise in preliminary assets under management (“AUM”) as of Jul 31, 2021, from the previous month. The total AUM balance aggregated $278.4 billion, marking an increase from the prior month’s $277.4 billion.

The July AUM entailed a market appreciation of $2.2 billion, negative foreign-exchange impact of $0.2 billion, as well as net outflows of $1.1 billion.

Lazard’s equity AUM for July rose marginally from the prior month to $224.99 billion. Moreover, a 1.08% increase in fixed income assets to $47.66 billion was also recorded. However, other assets remained flat sequentially at $5.7 billion.

Lazard can capitalize on its forte of organic growth, as highlighted by the investment management company’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 15.2% in the past six months, underperforming 26% growth witnessed by the industry.

Image Source: Zacks Investment Research

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

T. Rowe Price Group, Inc. (TROW Quick QuoteTROW - Free Report) reported preliminary AUM of $1.64 trillion as of Jul 31, 2021. This reflects a marginal increase from the prior month’s $1.62 trillion.

Invesco Ltd. (IVZ Quick QuoteIVZ - Free Report) registered preliminary month-end AUM of $1,528.4 billion as of Jul 31, 2021, which increased marginally from the end of the previous month. Total net inflows were $3.5 billion.

Franklin Resources (BEN Quick QuoteBEN - Free Report) recorded a preliminary AUM balance of $ 1,557.3 billion for July 2021. This highlighted a marginal rise from $1,552.1 billion recorded as of Jun 30, 2021.