Lazard Reports January 2024 Assets Under Management of $243.8M Vs $246.7M In December 2023
Portfolio Pulse from Benzinga Newsdesk
Lazard, Inc. (NYSE:LAZ) reported a decrease in its assets under management (AUM) to $243.8 billion in January 2024 from $246.7 billion in December 2023. The change reflects foreign exchange depreciation of $2.3 billion, net outflows of $2.1 billion, and market appreciation of $1.6 billion.
February 12, 2024 | 11:48 am
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Lazard's AUM decreased to $243.8 billion in January 2024 from $246.7 billion in December 2023, influenced by forex depreciation, net outflows, and market gains.
The decrease in AUM for Lazard is significant as it reflects a combination of negative factors such as foreign exchange depreciation and net outflows, slightly offset by market appreciation. This could indicate challenges in attracting and retaining capital, potentially impacting investor confidence and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100