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Lazard's (LAZ) October AUM Rises 2.6% on Market Appreciation
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Lazard Ltd. (LAZ - Free Report) recorded preliminary assets under management (AUM) of $279.7 billion as of Oct 31, 2021. The total AUM balance increased 2.6% from the prior month.
The growth in AUM balance was supported by market appreciation of $7.2 billion, and a favorable foreign-exchange impact of $0.5 billion. These were partially offset by net outflows of $0.6 billion.
Lazard’s equity AUM for October rose 3% from the prior month to $225.9 billion. Moreover, the company recorded a 1.1% increase in its fixed income assets to $47.7 billion. However, Other assets balance declined marginally on a sequential basis to $6.1 billion.
Lazard is expected to capitalize on its forte of organic growth, as highlighted by a robust revenue growth trend, which is getting support from a solid AUM balance. In addition, strength 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 Lazard have gained 30.2% over the past year, underperforming 36.2% growth witnessed by the industry.
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,593.7 billion for October 2021 represented a 4.3% rise from the prior month. The rise was mainly driven by net inflows of $18.8 billion.
Additionally, during the month, Invesco’s AUM balance was favorably impacted by market returns and foreign exchange rate movements.
AllianceBernstein Holding L.P. (AB - Free Report) has announced AUM for October 2021. The company’s preliminary month-end AUM of $765 billion grew 3.1% from the prior month.
Market appreciation, along with total firm-wide net inflows, mainly drove the rise in AllianceBernstein’s AUM balance.
Franklin Resources, Inc. (BEN - Free Report) reported preliminary AUM balance of $1,561.7 billion for October 2021. This indicates a 2.1% increase from $1,530.1 billion recorded as of Sep 30, 2021. The reported month’s AUM reflected changes in the reported asset class of certain products as part of the company’s integration efforts following acquisitions.
The rise in Franklin’s AUM balance was primarily supported by the positive impacts of markets, partly offset by modest long-term net outflows.
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Lazard's (LAZ) October AUM Rises 2.6% on Market Appreciation
Lazard Ltd. (LAZ - Free Report) recorded preliminary assets under management (AUM) of $279.7 billion as of Oct 31, 2021. The total AUM balance increased 2.6% from the prior month.
The growth in AUM balance was supported by market appreciation of $7.2 billion, and a favorable foreign-exchange impact of $0.5 billion. These were partially offset by net outflows of $0.6 billion.
Lazard’s equity AUM for October rose 3% from the prior month to $225.9 billion. Moreover, the company recorded a 1.1% increase in its fixed income assets to $47.7 billion. However, Other assets balance declined marginally on a sequential basis to $6.1 billion.
Lazard is expected to capitalize on its forte of organic growth, as highlighted by a robust revenue growth trend, which is getting support from a solid AUM balance. In addition, strength 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 Lazard have gained 30.2% over the past year, underperforming 36.2% 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
Invesco’s (IVZ - Free Report) preliminary month-end AUM of $1,593.7 billion for October 2021 represented a 4.3% rise from the prior month. The rise was mainly driven by net inflows of $18.8 billion.
Additionally, during the month, Invesco’s AUM balance was favorably impacted by market returns and foreign exchange rate movements.
AllianceBernstein Holding L.P. (AB - Free Report) has announced AUM for October 2021. The company’s preliminary month-end AUM of $765 billion grew 3.1% from the prior month.
Market appreciation, along with total firm-wide net inflows, mainly drove the rise in AllianceBernstein’s AUM balance.
Franklin Resources, Inc. (BEN - Free Report) reported preliminary AUM balance of $1,561.7 billion for October 2021. This indicates a 2.1% increase from $1,530.1 billion recorded as of Sep 30, 2021. The reported month’s AUM reflected changes in the reported asset class of certain products as part of the company’s integration efforts following acquisitions.
The rise in Franklin’s AUM balance was primarily supported by the positive impacts of markets, partly offset by modest long-term net outflows.