Lazard Reported July 2024 Preliminary Assets Under Management Of $246.1B Vs $244.7B MoM
Portfolio Pulse from Benzinga Newsdesk
Lazard, Inc. (NYSE:LAZ) reported preliminary assets under management (AUM) of $246.1 billion for July 2024, up from $244.7 billion in June 2024. The increase includes net outflows of $3.6 billion, market appreciation of $3.5 billion, and foreign exchange appreciation of $1.5 billion.
August 12, 2024 | 10:57 am
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Lazard, Inc. reported an increase in AUM to $246.1 billion for July 2024, despite net outflows of $3.6 billion. Market and foreign exchange appreciation contributed positively.
The increase in AUM, despite net outflows, indicates strong market and forex performance, which is a positive signal for investors. This could lead to a short-term positive impact on LAZ's stock price.
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