Lazard Reports 1.7% Sequential AUM Growth in May on Market Gains

Core Insights - Lazard, Inc. reported a preliminary asset under management (AUM) balance of $235.3 billion as of May 31, 2025, reflecting a 1.7% increase from April 30, 2025 [1][7] - The AUM increase was driven by market appreciation of $7.4 billion and foreign exchange appreciation of $0.2 billion, partially offset by net outflows of $3.7 billion, which included $4.3 billion outflows from a single sub-advised relationship [1][7] - Equity assets rose 2.4% to $180.5 billion, while fixed-income assets decreased 1.3% to $45.8 billion, and other assets increased 3% to $9 billion [2][7] Financial Performance - The company's reliance on financial advisory fees for revenue and ongoing net outflows may impact top-line growth [3] - Cost-management efforts are expected to support the company's bottom line in the near term [3] - Over the past year, Lazard's shares have increased by 14.3%, outperforming the industry growth of 12.4% [3] Comparison with Other Asset Managers - Franklin Resources, Inc. reported an AUM of $1.57 trillion as of May 31, 2025, which increased by 2.6% from the prior month, driven by market impacts and long-term net inflows of $1 billion [8]