Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Lazard's (LAZ) July 2019 AUM Declines On Overall Net Outflows

Published 08/13/2019, 08:56 AM
Updated 07/09/2023, 06:31 AM

Lazard Ltd. (NYSE:LAZ) recorded around 1.1% fall in preliminary assets under management (AUM) as of Jul 31, 2019, from the prior month. Total AUM came in at $234.8 billion, down from the June 2019 figure of $237.5 billion.

The July AUM displayed a $5.5-billion market appreciation of $1.5 billion. These positives were fully offset by net outflows of $2 billion and unfavorable foreign-exchange impact of $2.1 billion.

Lazard’s equity AUM at the end of July edged down 1.6% from the prior month to $192.8 billion. Also, other assets declined 2% to $4.9 billion. Yet, fixed income AUM surged marginally on a sequential basis to $37.2 billion.

Our Viewpoint

Lazard is well positioned to grow organically, driven by strength in its Financial Advisory and Asset Management segments. However, absence of continued growth in equity markets and stringent regulations remain headwinds.

The stock has lost around 8.9% in the past three months compared with the 3.2% decline recorded by the industry.


Lazard currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

Among other investment managers, Legg Mason Inc. (NYSE:LM) reported marginal growth in AUM as of Jul 31, 2019, from the previous month. Preliminary month-end AUM came in at $780.5 billion, up from the June 2019 figure of $780.2 billion.

Cohen & Steers (NYSE:CNS) reported preliminary AUM of $63.1 billion as of Jul 31, 2019, up nearly 1.2% from the prior-month level of $62.4 billion. Market appreciation of $794 million and net inflows of $255 million were partly offset by a conversion of $119 million from certain institutional accounts to model-based portfolios (excluded from AUM) and distributions of $181 million.

Franklin Resources (NYSE:BEN) has announced preliminary AUM by its subsidiaries of $709.5 billion for July 2019. Results displayed slight decrease from the $715.2 billion recorded as of Jun 30, 2019. Net outflows and net market change led to this downside. Further, the reported figure went down 3.3% year on year.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple (NASDAQ:AAPL) sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>



Franklin Resources, Inc. (BEN): Free Stock Analysis Report

Legg Mason, Inc. (LM): Free Stock Analysis Report

Lazard Ltd (LAZ): Free Stock Analysis Report

Cohen & Steers Inc (CNS): Free Stock Analysis Report

Original post

Zacks Investment Research

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.