Lazard Reports May 2024 Assets Under Management of $245.0B, Vs $240.8B In April 2024
Portfolio Pulse from Benzinga Newsdesk
Lazard, Inc. (NYSE:LAZ) reported an increase in its assets under management (AUM) to $245.0 billion as of May 31, 2024, up from $240.8 billion in April 2024. The increase was driven by market appreciation of $4.4 billion, net outflows of $1.6 billion, and foreign exchange appreciation of $1.4 billion.
June 12, 2024 | 10:49 am
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Lazard, Inc. (NYSE:LAZ) reported an increase in AUM to $245.0 billion as of May 31, 2024, from $240.8 billion in April 2024. The increase was due to market appreciation, net outflows, and foreign exchange gains.
The increase in AUM is a positive indicator for Lazard, suggesting effective asset management and favorable market conditions. This is likely to have a positive short-term impact on the stock price.
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