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Lazard's (LAZ) May AUM Increases on Market Appreciation

Lazard Ltd. LAZ recorded a 1.5% rise in preliminary assets under management (AUM), as of May 31, 2021, from the previous month. The total AUM balance aggregated $278.6 billion, marking an increase from the prior month’s $274.4 billion.

The May AUM entailed a market appreciation of $3.4 billion, positive foreign-exchange impact of $1.9 billion as well as net outflows of $1.1 billion.

Lazard’s equity AUM for May rose 1.5% from the prior month to $226.03 billion. Moreover, other assets climbed 2.4% sequentially to $5.47 billion. Apart from these gains, a 1.6% increase in fixed income to $47.06 billion was also recorded.

Lazard can capitalize on its forte of organic growth, as highlighted by the bank’s revenue growth trend. Also, its prowess in the Financial Advisory and Asset Management segments, along with cost-containment measures, will help the company withstand any headwind that might occur due to economic uncertainties.

Shares of the company have gained 12.9% in the past six months compared with 26.2% growth witnessed by the industry.

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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

Cohen & Steers CNS reported preliminary AUM balance of $94.2 billion as of May 31, 2021, up 1% from the prior-month level. Net inflows of $760 billion and market appreciation of $815 million were partly offset by distributions of $201 million.

Invesco Ltd. IVZ announced preliminary May-end AUM balance of $1,505.1 billion, up 3.2% from the previous-month end. Positive market returns aided this upswing, boosting the AUM by $10 billion.

Franklin Resources BEN registered preliminary AUM balance of $1543. billion for May 2021. This reflected 1% growth from the $1529.3 billion recorded as of Apr 30, 2021.

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