Lazard's (LAZ) April AUM Declines 3.8% on Weaker Markets

Lazard, Inc. (LAZ) reported its preliminary asset under management (AUM) balance of $240.8 billion for April 2024. This reflected a 3.8% decline from$ 250.4 billion as of Mar 31, 2024. The downfall in AUM balance was due to a market depreciation of $4.4 billion, net outflows of$ 3.6 billion and foreign exchange depreciation of $1.6 billion. In April, Lazard's equity assets and fixed income declined 3.9% each from the prior month's level to$ 187.6 billion and $45.4 billion, respectively. Other income dipped ...