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Franklin Resources, Inc. (BEN) - $25 value - yours FREE >>
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Lazard's (LAZ) November AUM Falls on Market Depreciation
Lazard Ltd. (LAZ - Free Report) recorded a 4.4% fall in preliminary assets under management (AUM) as of Nov 30, 2021, from the previous month’s reading. The total AUM balance aggregated $267.4 billion, marking a decrease from the prior month’s $279.7 billion.
The November AUM entailed a market depreciation of $5.8 billion, a negative foreign-exchange impact of $3.4 billion and net outflows of $3.1 billion.
Lazard’s equity AUM for November decreased 5% from the prior month’s level to $214.6 billion. Moreover, a 2.6% decline in fixed income assets to $46.5 billion was also recorded. Nonetheless, other assets witnessed a 3.4% sequential rise, to $6.3 billion.
Lazard can capitalize on its forte of organic growth, highlighted by a robust revenue growth trend, which is getting support from a solid AUM balance. Also, its prowess in the Financial Advisory and Asset Management segments plus cost-containment measures will help LAZ withstand any headwind that might occur due to economic uncertainties.
Shares of Lazard have gained 6.5% in the past year, underperforming 17.8% 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
Some other firms that released monthly data are T. Rowe Price Group, Inc. (TROW - Free Report) , Artisan Partners Asset Management Inc. (APAM - Free Report) and Franklin Resources (BEN - Free Report) . At present, T. Rowe Price and Artisan Partners have a Zacks Rank of 3, while Franklin Resources carries a Zacks Rank #2 (Buy).
TROW reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month’s $1.67 trillion.
APAM reported a preliminary AUM of $169.2 billion as of Nov 30, 2021. Artisan Funds and Artisan Global Funds aggregated $82.2 billion of the total AUM, while separate accounts and other AUM accounted for $87 billion.
BEN recorded a preliminary AUM balance of $ 1,546.8 billion for November 2021. This highlighted a marginal rise from $1,561.7 billion recorded as of Oct 31, 2021.