Lazard's (LAZ) January AUM Declines 1.1% on Net Outflows

Lazard, Inc. (LAZ) announced a preliminary asset under management (AUM) balance of $243.8 billion for January 2024. This reflects a 1.1$246.7 billion as of Dec 31, 2023.The drop in January AUM was primarily due to foreign exchange depreciation of $2.3 billion and net outflows of$2.1 billion, whereas market appreciation of $1.6 billion softened the impact.Lazard’s equity AUM dropped 0.9$1.88 billion. Fixed-income AUM of $47.3 billion fell 1.5% sequentially. Also, ot ...