Time New York: Mon 24 Jun 19:54 pm  |  Save 15% on H&R Block Online

  
caticonslite_bm_alt

Lazard’s (LAZ) May AUM Declines 4.5% on Lower Equity Assets

Zacks

Lazard Ltd. LAZ recorded around 4.5% decline in preliminary assets under management (AUM) as of May 31, 2019, from the prior month. Total AUM came in at $228.7 billion, down from the April 2019 figure of $239.6 billion.

May AUM displayed net outflows of $1.4 billion and unfavorable foreign exchange impact of $0.9 billion. Market depreciation of $8.7 billion was another headwind.

Lazard’s equity AUM at the end of May decreased 5.6% from the prior month to $188.1 billion. However, other assets rose slightly to $5.2 billion. Further, fixed income AUM jumped marginally on a sequential basis to $35.3 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 8.3% in the past six months against 13.8% growth recorded by the industry.


Lazard currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

Among other investment managers, Cohen & Steers CNS reported preliminary AUM of $62.9 billion as of May 31, 2019, down marginally from the prior-month level of $63.1 billion. Market appreciation of $264 million was more than offset by net outflows of $228 million and distributions of $207 million.

Invesco IVZ also announced its AUM for May. The company’s preliminary month-end AUM of $1,159.3 billion increased 18.9% from the prior month.

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $695 billion for May. Results display a 3.5% decline from the $720.5 billion recorded as of Apr 30, 2019. Market declines and modest outflows led to this downside. Further, the figure dipped 5.2% year over year.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.

This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.

See their latest picks free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.

Zacks Investment Research
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.