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Lazard's (LAZ) October AUM Rises 3.4% on Market Appreciation
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Lazard Ltd. (LAZ - Free Report) recorded a 3.4% increase in preliminary assets under management (AUM) as of Oct 31, 2022, from the previous month’s reading. The total AUM balance aggregated $204.58 billion, marking an increase from the $197.76 billion reported in September.
The October AUM entailed a market appreciation of $8 billion, a positive foreign-exchange impact of $0.6 billion and net outflows of $1.8 billion.
Lazard’s equity AUM for October rose 4.2% from the prior month to $160.2 billion. Also, fixed-income AUM of $39 billion increased 1.8% sequentially. However, Other assets declined 6.5% to $5.3 billion.
Lazard is expected to capitalize on organic growth, highlighted by a robust revenue growth trend, which might get support from any improvement in the AUM balance. Investment in the Asset Management segment, aimed at scaling the platform and introducing investment strategies to enhance Lazard's competitive edge, is another strategic fit.
However, increased dependence on advisory revenues and continued net outflows over the past months are major concerns.
The stock has rallied 20.1% over the past six months compared with a 19.9% rise witnessed by the industry.
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,318.4 billion for October 2022. This reflects a 1.6% increase from $1,297.4 billion recorded as of Jun 30, 2022.
The rise in BEN’s AUM balance was primarily driven by an upbeat market performance, partially offset by long-term net outflows, including the previously-disclosed $2.1 billion fixed-income institutional redemption that had minimal impacts on revenues.
AllianceBernstein Holding L.P.’s (AB - Free Report) AUM of $627 billion for October 2022 represented a rise of 2.3% from $613 billion recorded at the end of the prior month. AB’s AUM increase was driven by market appreciation, partially offset by net outflows in each channel.
AllianceBernstein’s global reach and solid asset balances are likely to continue to boost top-line growth.
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Lazard's (LAZ) October AUM Rises 3.4% on Market Appreciation
Lazard Ltd. (LAZ - Free Report) recorded a 3.4% increase in preliminary assets under management (AUM) as of Oct 31, 2022, from the previous month’s reading. The total AUM balance aggregated $204.58 billion, marking an increase from the $197.76 billion reported in September.
The October AUM entailed a market appreciation of $8 billion, a positive foreign-exchange impact of $0.6 billion and net outflows of $1.8 billion.
Lazard’s equity AUM for October rose 4.2% from the prior month to $160.2 billion. Also, fixed-income AUM of $39 billion increased 1.8% sequentially. However, Other assets declined 6.5% to $5.3 billion.
Lazard is expected to capitalize on organic growth, highlighted by a robust revenue growth trend, which might get support from any improvement in the AUM balance. Investment in the Asset Management segment, aimed at scaling the platform and introducing investment strategies to enhance Lazard's competitive edge, is another strategic fit.
However, increased dependence on advisory revenues and continued net outflows over the past months are major concerns.
The stock has rallied 20.1% over the past six months compared with a 19.9% rise witnessed by the industry.
Image Source: Zacks Investment Research
Currently, Lazard carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1,318.4 billion for October 2022. This reflects a 1.6% increase from $1,297.4 billion recorded as of Jun 30, 2022.
The rise in BEN’s AUM balance was primarily driven by an upbeat market performance, partially offset by long-term net outflows, including the previously-disclosed $2.1 billion fixed-income institutional redemption that had minimal impacts on revenues.
AllianceBernstein Holding L.P.’s (AB - Free Report) AUM of $627 billion for October 2022 represented a rise of 2.3% from $613 billion recorded at the end of the prior month. AB’s AUM increase was driven by market appreciation, partially offset by net outflows in each channel.
AllianceBernstein’s global reach and solid asset balances are likely to continue to boost top-line growth.