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Franklin Resources, Inc. (BEN) - free report >>
T. Rowe Price Group, Inc. (TROW) - free report >>
Lazard, Inc. (LAZ) - free report >>
Artisan Partners Asset Management Inc. (APAM) - free report >>
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Lazard's (LAZ) August AUM Improves on Market Appreciation
Lazard Ltd. (LAZ - Free Report) recorded a 1.6% rise in the preliminary assets under management (AUM), as of Aug 31, 2021, from the previous month. The total AUM balance aggregated $282.8 billion, marking an increase from the prior month’s $278.4 billion.
The August 2021 AUM entailed a market appreciation of $5 billion, a negative foreign-exchange impact of $0.5 billion as well as net outflows of $17 million.
Lazard’s equity AUM for August inched up 1.7% from the prior month to $228.84 billion. Moreover, the company recorded a 1.17% increase in its fixed income assets to $48.22 billion. Other assets also witnessed a 1.07% rise sequentially to $5.76 billion.
Lazard can capitalize on its forte of organic growth, as highlighted by the investment management company’s revenue growth trend. In addition, its prowess in the Financial Advisory and Asset Management segments, along with the cost-containment measures, will help the company withstand any headwind that might occur due to economic uncertainties.
Shares of the company have gained 8.1% in the past six months, underperforming 17.2% 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 - Free Report) reported preliminary AUM of $1.68 trillion as of Aug 31, 2021. This reflects a 2.4% increase from the prior month’s $1.64 trillion.
Artisan Partners Asset Management Inc. (APAM - Free Report) reported preliminary AUM of $181.1 billion as of Aug 31, 2021. Artisan Funds and Artisan Global Funds accounted for $88.6 billion of the total AUM, while separate accounts and other AUM accounted for $92.5 billion.
Franklin Resources (BEN - Free Report) recorded a preliminary AUM balance of $ 1,572.1 billion for August. This highlighted a marginal rise from the $1,557.3 billion recorded as of Jul 31, 2021.