Lazard Reports 1.8% Sequential Increase in April AUM Balance

Group 1: Lazard's Asset Under Management (AUM) Performance - Lazard reported a preliminary AUM of $231.4 billion as of April 30, 2025, reflecting a 1.8% increase from March 31, 2025, driven by foreign exchange appreciation of $5.1 billion, despite market depreciation of $0.9 billion and net outflows of $0.2 billion [1] - In April, Lazard's equity assets increased by 1.3% to $176.3 billion, while fixed-income assets rose by 5.3% to $46.3 billion, and other assets decreased by 5.6% to $8.8 billion [2] Group 2: Financial Performance and Outlook - The company's heavy reliance on financial advisory fees and continued net outflows may negatively impact top-line growth in the near future, although cost-management efforts are expected to support the bottom line [3] - Over the past year, Lazard's shares have increased by 21.4%, outperforming the industry growth of 10% [4] Group 3: Industry Comparison - Franklin Resources reported preliminary AUM of $1.53 trillion as of April 30, 2025, showing a slight decrease due to long-term net outflows of $10 billion [7] - T. Rowe Price announced preliminary AUM of $1.56 trillion for April 2025, reflecting a marginal decrease, with equity products at $767 billion and fixed income growing by 1% to $198 billion [8]