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Franklin Resources, Inc. (BEN) - free report >>
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Lazard's (LAZ) February AUM Dips 2.8% on Market Depreciation
Lazard Ltd. (LAZ - Free Report) recorded a 2.8% fall in preliminary assets under management (AUM) as of Feb 28, 2022, from the previous month’s reading. The total AUM balance aggregated $251.6 billion, marking a decrease from the prior month’s $258.7 billion.
The February AUM entailed a market depreciation of $5.3 billion, a negative foreign-exchange impact of $0.3 billion and net outflows of $2.1 billion.
Lazard’s equity AUM for February decreased 3.1% from the prior month’s level to $200.1 billion. Moreover, a 1.9 % decline in fixed income assets to $44.9 billion was recorded. Nonetheless, other assets witnessed a 3.4% sequential increase to $6.5 billion.
The reduction in LAZ’s AUM balance likely mirrors the ongoing volatility and negative market sentiments due to the Russia-Ukraine conflict.
Nonetheless, Lazard can capitalize on its forte of organic growth and partnerships to continue its robust revenue growth trend. In November 2021, the firm formed a strategic alliance with IPA, an investment bank with an impressive team of seasoned professionals. Lazard expects its partnership with IPA to complement its advisory business.
However, high reliance on financial advisory fees for the bulk of its revenues makes it vulnerable to the economic doldrums. Rising net outflows are other major concerns.
The LAZ stock’s decline of 25.3% in the past year has been wider than the 15.7% fall witnessed by the industry.
Image Source: Zacks Investment Research
Currently, Lazard carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for February 2022. BEN's month-end AUM of $1,486.9 billion represented a 2.3% decline from the previous month.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows.
Invesco (IVZ - Free Report) announced a preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion was down 1.3% from the previous month.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion.