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Lazard's October AUM Falls 1% Sequentially Despite Strong Net Inflows
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Key Takeaways
LAZ's AUM declined nearly 1% to $282.4 billion in October, despite $1.7 billion in net inflows.
LAZ recorded $5.1 billion in net inflows and $54 billion in gross inflows in the first nine months of 2026.
LAZ expects positive net flows in 2026, supported by client demand, expanded distribution and new strategies.
Lazard, Inc. (LAZ - Free Report) reported preliminary assets under management (AUM) of $282.4 billion as of Oct. 31, 2026, reflecting a nearly 1% decline from Sept. 30, 2026. The decrease was primarily due to $1.9 billion in market depreciation and $1.4 billion in foreign exchange depreciation, partly offset by $1.7 billion in net inflows.
Despite the sequential decline, Lazard's AUM base has expanded over the past several years, recording a compound annual growth rate of 2.8% during 2016-2025. Although AUM contracted in 2022 amid challenging market conditions, the company continued to attract client assets. This momentum carried into the first nine months of 2026, with net inflows totaling $5.1 billion, reflecting sustained client demand and expanded distribution capabilities.
AUM Growth Trend
Image Source: Lazard, Inc.
The October AUM performance was mixed across asset classes. Its equity assets, which accounted for the largest share of total AUM, declined marginally to $214.3 billion on a sequential basis. Meanwhile, fixed-income assets decreased by 2.1% to $33.1 billion. Nevertheless, the multi-asset AUM remained relatively stable at $24.1 billion, and alternative assets increased by nearly 1% to $11 billion.
Beyond market-driven movements, LAZ's strategic expansion is strengthening its AUM growth prospects. In June 2026, the company acquired a majority stake in Elaia Partners, increasing its ownership to 51%, following the strategic partnership established in 2024. The transaction added approximately $1 billion to Lazard’s AUM, strengthening its alternative investment capabilities and further diversifying its asset mix across public and private strategies. The establishment of Lazard Elaia Capital and acquisition of Truvvo Partners, which added $3.8 billion in AUM, expanded its private markets capabilities.
Client demand also remains broad-based across quantitative strategies, emerging markets, Japanese and international equities, fixed income and alternative strategies. Strong inflows into Lazard Advantage, emerging markets and global listed infrastructure strategies, along with an expanding distribution network, supported record gross inflows of $54 billion in the first nine months of 2026. Its growing active ETF platform, including its international quantitative ETF, IDEQ, which has grown to nearly $2 billion in AUM, and the planned launch of its first actively managed fixed-income ETFs, are expected to attract new clients.
Looking ahead, management expects positive net flows for 2026, supported by continued client demand, expanded distribution and a growing mandate pipeline. However, concerns surrounding the private credit market, along with market volatility and foreign exchange movements, could weigh on AUM growth in the near term. Nevertheless, sustained client inflows and a broader investment offering are likely to support Lazard's long-term AUM growth.
Performance of Other Asset Managers in October
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary assets under management of $1.81 trillion as of Oct. 31, 2026, up slightly from $1.80 trillion as of Sept. 30, 2026.
BEN's AUM balance reflected long-term net inflows of $3 billion and the positive impact of markets.
Invesco Ltd. (IVZ - Free Report) announced preliminary AUM of $2.45 trillion as of Oct. 31, 2026, representing a 3.3% decrease from the previous month.
For October, IVZ reported net long-term outflows of $1 billion. Money market net outflows were $32.9 billion.
LAZ’s Price Performance & Zacks Rank
Over the past six months, shares of Lazard have plunged 10.9% compared with the industry’s decline of 12.2%.
Price Performance
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #5 (Strong Sell).
View the Zacks #1 Rank List
Image: Bigstock
Lazard's October AUM Falls 1% Sequentially Despite Strong Net Inflows
Key Takeaways
Lazard, Inc. (LAZ - Free Report) reported preliminary assets under management (AUM) of $282.4 billion as of Oct. 31, 2026, reflecting a nearly 1% decline from Sept. 30, 2026. The decrease was primarily due to $1.9 billion in market depreciation and $1.4 billion in foreign exchange depreciation, partly offset by $1.7 billion in net inflows.
Despite the sequential decline, Lazard's AUM base has expanded over the past several years, recording a compound annual growth rate of 2.8% during 2016-2025. Although AUM contracted in 2022 amid challenging market conditions, the company continued to attract client assets. This momentum carried into the first nine months of 2026, with net inflows totaling $5.1 billion, reflecting sustained client demand and expanded distribution capabilities.
AUM Growth Trend
Image Source: Lazard, Inc.
The October AUM performance was mixed across asset classes. Its equity assets, which accounted for the largest share of total AUM, declined marginally to $214.3 billion on a sequential basis. Meanwhile, fixed-income assets decreased by 2.1% to $33.1 billion. Nevertheless, the multi-asset AUM remained relatively stable at $24.1 billion, and alternative assets increased by nearly 1% to $11 billion.
Beyond market-driven movements, LAZ's strategic expansion is strengthening its AUM growth prospects. In June 2026, the company acquired a majority stake in Elaia Partners, increasing its ownership to 51%, following the strategic partnership established in 2024. The transaction added approximately $1 billion to Lazard’s AUM, strengthening its alternative investment capabilities and further diversifying its asset mix across public and private strategies. The establishment of Lazard Elaia Capital and acquisition of Truvvo Partners, which added $3.8 billion in AUM, expanded its private markets capabilities.
Client demand also remains broad-based across quantitative strategies, emerging markets, Japanese and international equities, fixed income and alternative strategies. Strong inflows into Lazard Advantage, emerging markets and global listed infrastructure strategies, along with an expanding distribution network, supported record gross inflows of $54 billion in the first nine months of 2026. Its growing active ETF platform, including its international quantitative ETF, IDEQ, which has grown to nearly $2 billion in AUM, and the planned launch of its first actively managed fixed-income ETFs, are expected to attract new clients.
Looking ahead, management expects positive net flows for 2026, supported by continued client demand, expanded distribution and a growing mandate pipeline. However, concerns surrounding the private credit market, along with market volatility and foreign exchange movements, could weigh on AUM growth in the near term. Nevertheless, sustained client inflows and a broader investment offering are likely to support Lazard's long-term AUM growth.
Performance of Other Asset Managers in October
Franklin Templeton, Inc. (BEN - Free Report) reported preliminary assets under management of $1.81 trillion as of Oct. 31, 2026, up slightly from $1.80 trillion as of Sept. 30, 2026.
BEN's AUM balance reflected long-term net inflows of $3 billion and the positive impact of markets.
Invesco Ltd. (IVZ - Free Report) announced preliminary AUM of $2.45 trillion as of Oct. 31, 2026, representing a 3.3% decrease from the previous month.
For October, IVZ reported net long-term outflows of $1 billion. Money market net outflows were $32.9 billion.
LAZ’s Price Performance & Zacks Rank
Over the past six months, shares of Lazard have plunged 10.9% compared with the industry’s decline of 12.2%.
Price Performance
Image Source: Zacks Investment Research
The company currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy)stocks here.