Lazar's Preliminary Assets Under Management As Of September 30, 2024 Totaled Approximately $247.7B, Including Market Appreciation Of $3B, Foreign Exchange Appreciation Of $1.5B And Net Outflows Of $1.3B
Portfolio Pulse from Benzinga Newsdesk
Lazard's preliminary assets under management (AUM) as of September 30, 2024, totaled approximately $247.7 billion, with market appreciation of $3 billion, foreign exchange appreciation of $1.5 billion, and net outflows of $1.3 billion. The average AUM for the quarter was $246.0 billion.

October 10, 2024 | 10:55 am
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POSITIVE IMPACT
Lazard's AUM increased to $247.7B as of September 30, 2024, driven by market and foreign exchange appreciation, despite experiencing net outflows. This indicates a positive market performance and currency impact, but also highlights challenges in retaining client funds.
The increase in AUM due to market and FX appreciation suggests positive external conditions, which could boost investor confidence. However, the net outflows indicate potential issues in client retention or competition. Overall, the positive appreciation outweighs the outflows, suggesting a likely short-term positive impact on Lazard's stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100