Core Insights - AllianceBernstein L.P. and AllianceBernstein Holding L.P. reported that preliminary assets under management remained stable at $829 billion at the end of July 2025, unchanged from June 2025, as market gains were offset by net outflows during the month [1][2] Summary by Category Assets Under Management - Total assets under management as of July 31, 2025, were $829 billion, with no change from June 30, 2025 [1][2] - Institutional net outflows were approximately $4.0 billion, primarily due to the completion of the EQH-RGA reinsurance transaction [1] - Excluding the impact of the transaction, institutional and retail net flows were slightly negative, while private wealth posted roughly flat net flows [1] Breakdown of Assets - Total equity assets amounted to $347 billion, with actively managed equity at $273 billion and passive equity at $74 billion [2] - Total fixed income assets were $299 billion, with taxable fixed income at $209 billion and tax-exempt fixed income at $80 billion [2] - Alternatives and multi-asset solutions accounted for $183 billion in assets [2]

Core Viewpoint - AGF Management Limited reported a total of $56.1 billion in assets under management (AUM) and fee-earning assets as of July 31, 2025, reflecting growth in various asset categories compared to previous periods [1][7]. Summary by Category Total AUM and Fee-Earning Assets - Total AUM increased to $54.0 billion from $52.9 billion in June 2025, representing a 2.1% month-over-month growth and a 14.4% year-over-year increase from $47.2 billion in July 2024 [2]. - Total fee-earning assets remained stable at $2.1 billion, unchanged from the previous month and year [2]. Mutual Fund AUM Breakdown - Total Mutual Fund AUM reached $32.7 billion, up from $32.0 billion in June 2025 and significantly higher than $27.8 billion in July 2024 [2][4]. - Domestic Equity Funds maintained at $4.6 billion, while U.S. and International Equity Funds rose to $20.9 billion from $20.2 billion month-over-month and from $16.6 billion year-over-year [3]. - Domestic Fixed Income Funds increased to $2.2 billion from $2.0 billion in June 2025 and from $1.7 billion in July 2024 [3]. AGF Capital Partners - AGF Capital Partners AUM remained at $2.6 billion, consistent with the previous month but slightly down from $2.7 billion in July 2024 [4]. - Total AGF Capital Partners AUM and fee-earning assets were reported at $4.7 billion, unchanged from the previous month and down from $4.8 billion year-over-year [4]. Company Overview - AGF Management Limited, founded in 1957, operates as an independent and globally diverse asset management firm, focusing on public and private market investments through three business lines: AGF Investments, AGF Capital Partners, and AGF Private Wealth [5][6]. - The firm emphasizes responsible and sustainable corporate practices, serving over 815,000 investors globally [6][7].

Core Insights - KKR & Co. Inc. reported revenue of $1.28 billion for the quarter ended June 2025, reflecting a year-over-year increase of 15.9% and a slight revenue surprise of +0.43% over the Zacks Consensus Estimate [1] - The earnings per share (EPS) for the quarter was $1.18, up from $1.09 in the same quarter last year, resulting in an EPS surprise of +0.85% compared to the consensus estimate of $1.17 [1] Financial Performance Metrics - Private Equity Assets Under Management (AUM) reached $214.58 billion, exceeding the average estimate of $213.53 billion [4] - Fee Paying Assets Under Management in Private Equity stood at $141.22 billion, surpassing the estimated $136.29 billion [4] - Real Assets Segment AUM at the end of the period was $179.45 billion, compared to the average estimate of $177.73 billion [4] - Fee Related Earnings from Management Fees were $995.76 million, exceeding the estimated $964.4 million and representing a +17.5% change year-over-year [4] - Net Transaction and Monitoring Fees were reported at $234.25 million, below the average estimate of $273.75 million [4] - Total Fee Related Revenue in Private Equity was $392.52 million, higher than the estimated $382.8 million [4] - Realized Performance Income in Private Equity was $355.49 million, exceeding the average estimate of $336.12 million [4] - Credit and Liquid Strategies Segment AUM at the end of the period was $291.78 billion, slightly below the average estimate of $292.43 billion [4] Stock Performance - KKR & Co. shares have returned +11.8% over the past month, outperforming the Zacks S&P 500 composite's +2.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Core Insights - Prudential (PRU) reported revenue of $13.51 billion for the quarter ended June 2025, reflecting a year-over-year decline of 2.4% while EPS increased to $3.58 from $3.39 a year ago, indicating a positive surprise of +11.53% against the consensus estimate of $3.21 [1] Financial Performance - The reported revenue of $13.51 billion exceeded the Zacks Consensus Estimate of $13.48 billion by +0.2% [1] - Total Revenues from U.S. Businesses were $8.01 billion, surpassing the average estimate of $7.93 billion, but showing a year-over-year decline of -4.7% [4] - Total Revenues from International Businesses were $4.4 billion, slightly below the average estimate of $4.55 billion, with a year-over-year decline of -2.5% [4] - Total Revenues from Corporate and Other were $56 million, exceeding the estimate of $52.8 million, but reflecting a significant year-over-year decline of -255.6% [4] Assets Under Management - Assets Under Management and Administration for PGIM totaled $1,440.7 billion, surpassing the average estimate of $1,401.82 billion [4] - Retail customer assets were reported at $256.7 billion, exceeding the estimate of $246.55 billion [4] - Institutional customer assets reached $647.6 billion, above the average estimate of $627.09 billion [4] Segment Performance - Adjusted Operating Income from net investment income was $4.6 billion, slightly above the average estimate of $4.53 billion [4] - Premiums reported were $6.43 billion, marginally exceeding the estimate of $6.41 billion [4] - Total Revenues from U.S. Businesses in Retirement Strategies for Individual Retirement Strategies were $1.32 billion, below the average estimate of $1.43 billion, but showing a year-over-year increase of +6% [4] - Total Revenues from U.S. Businesses in Retirement Strategies for Institutional Retirement Strategies were $3.51 billion, slightly below the average estimate of $3.56 billion, reflecting a year-over-year decline of -13.2% [4] Stock Performance - Prudential's shares have returned -5.1% over the past month, contrasting with the Zacks S&P 500 composite's +3.4% change [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Assets Under Management - Man Group's assets under management reached an all-time high [1] - Record inflows drove the increase in assets under management last quarter [1] Market Dynamics - The investment firm rebounded from a drop caused earlier by tariff turmoil [1]

Core Insights - Lazard reported revenue of $769.87 million for the quarter ended June 2025, reflecting a 12.5% increase year-over-year and surpassing the Zacks Consensus Estimate of $688.5 million by 11.82% [1] - The company's EPS was $0.52, consistent with the previous year's quarter, and exceeded the consensus EPS estimate of $0.38 by 36.84% [1] Financial Performance - Assets under management at the end of the period reached $248.36 billion, exceeding the average estimate of $236.20 billion [4] - Total Fixed Income assets under management were $47.06 billion, above the average estimate of $45.12 billion [4] - Net flows were positive at $0.68 billion, contrasting with the estimated outflow of $3.51 billion [4] - Adjusted net revenue from Asset Management was $268.49 million, slightly above the estimated $261.01 million, marking a 1.2% increase year-over-year [4] - Adjusted net revenue from Financial Advisory was $491.36 million, significantly higher than the estimated $417.05 million, representing a 20.5% year-over-year increase [4] - Adjusted net revenue from Corporate was $10.02 million, exceeding the estimate of $9.44 million, but showing a decline of 12.8% compared to the previous year [4] Market Performance - Lazard's shares have returned 17.4% over the past month, outperforming the Zacks S&P 500 composite's 5.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Performance - Blackstone's earnings per share exceeded estimates by $0.11 [1] - Blackstone's revenue reached $3.1 billion, surpassing expectations [1] - Total assets under management increased by 13% year-over-year, reaching $1.2 trillion [1] Business Development & Strategy - Blackstone experienced the most significant fund appreciation in nearly four years [3] - Blackstone raised an additional $52 billion in inflows [3] - Blackstone anticipates a cyclical upturn driven by a revitalized deal environment [3] - Blackstone sees secular trends in private wealth, private credit, and infrastructure contributing to long-term growth [4] - Blackstone's private equity companies experienced high single-digit revenue growth and margin expansion in Q2 [6] Market & Industry Outlook - Blackstone observes resilience in its portfolio companies, despite challenges in manufacturing and retailing [6] - Blackstone notes that default rates among non-investment grade borrowers are low, at just 50 basis points [8] - Blackstone identifies AI, energy, and digital infrastructure as potential drivers of productivity and economic growth [9] - Blackstone acknowledges the risk of excesses in the data center and AI energy space due to significant investment [10][11][12] - The digital infrastructure sector requires new power capabilities and generation to support growing demand, with a focus on consumer needs [16]

Financial Performance - AllianceBernstein reported a GAAP net income of $0.64 per unit and an adjusted net income of $0.76 per unit for the second quarter of 2025, with cash distribution also at $0.76 per unit [1][38]. - Total net revenues for the second quarter were $1.1 billion, reflecting a 5.9% increase from $1.0 billion in the same quarter of 2024 [12][37]. - Operating income increased by 11.4% to $222 million compared to $199 million in the second quarter of 2024, while the operating margin improved to 20.7% [17][37]. Assets Under Management - Assets under management (AUM) reached a record high of $829.1 billion, up 7.7% from $769.5 billion year-over-year and up 5.7% from $784.5 billion in the previous quarter [6][38]. - The average AUM for the quarter was $799.5 billion, an increase of 5.8% from $755.5 billion in the same quarter of 2024 [6][38]. Net Flows - The firm experienced total net outflows of $6.7 billion in the second quarter, contrasting with net inflows of $2.4 billion in the first quarter of 2025 [7][9]. - Retail active equities saw net outflows of $3.7 billion, while institutional active net flows were positive, driven by $1 billion into taxable fixed income and alternatives/multi-asset [3][8]. Market Conditions - The second quarter of 2025 was characterized by improved investor sentiment as geopolitical tensions eased, leading to positive returns in risk assets [2][4]. - Global equity markets, including the S&P 500 and MSCI EAFE, reported total returns of 10.9% and 12.1%, respectively, during the quarter [5]. Operational Highlights - The company reported a 4% increase in investment advisory base fees year-over-year, with adjusted operating income rising by 7% [2][24]. - Employee headcount increased to 4,380 as of June 30, 2025, compared to 4,264 a year earlier [26]. Distribution and Shareholder Returns - The cash distribution per unit of $0.76 is scheduled for payment on August 14, 2025, to holders of record as of August 4, 2025 [3][11].

Core Insights - Invesco reported $1.1 billion in revenue for Q2 2025, a year-over-year increase of 1.7%, but the EPS decreased to $0.36 from $0.43 a year ago, indicating a decline in profitability [1] - The revenue fell short of the Zacks Consensus Estimate by -0.54%, and the EPS was -12.2% below the consensus estimate [1] Financial Performance Metrics - Invesco's shares have returned +35.3% over the past month, significantly outperforming the Zacks S&P 500 composite's +5.9% change, and the stock holds a Zacks Rank 1 (Strong Buy) [3] - Assets Under Management (AUM) for ETFs and Index reached $546.90 billion, exceeding the average estimate of $512.82 billion [4] - Total average AUM was reported at $1,897.40 billion, higher than the estimated $1,855.71 billion [4] - AUM for Fundamental Fixed Income was $301.60 billion, surpassing the estimate of $297.02 billion [4] - AUM for Private Markets was $131.20 billion, above the average estimate of $129.82 billion [4] - AUM for China JV & India was $120.20 billion, compared to the estimate of $114.48 billion [4] - AUM for Multi-Asset/Other was $64.10 billion, exceeding the estimate of $60.48 billion [4] - AUM for Global Liquidity was $196.40 billion, slightly below the estimate of $197.85 billion [4] - AUM for QQQs was $352.70 billion, significantly higher than the estimate of $314.54 billion [4] - Average AUM for ETFs & Index was $509.70 billion, above the estimate of $501.91 billion [4] Revenue Breakdown - Operating revenues from Other revenues were $48.2 million, below the estimate of $53.25 million, but showed a +2.1% year-over-year change [4] - Service and distribution fees generated $363.8 million, lower than the estimated $375.77 million, with a year-over-year change of +0.6% [4] - Performance fees were reported at $2.6 million, significantly below the average estimate of $8.99 million, reflecting a -70.1% year-over-year decline [4]

Core Insights - Wall Street analysts forecast that Lazard (LAZ) will report quarterly earnings of $0.38 per share, reflecting a year-over-year decline of 26.9%, with anticipated revenues of $688.5 million, showing a slight increase of 0.6% compared to the previous year [1] Earnings Estimates - Over the last 30 days, there has been a downward revision of 1.3% in the consensus EPS estimate for the quarter, indicating a collective reconsideration by covering analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, as empirical research shows a strong correlation between earnings estimate revisions and short-term stock price performance [3] Key Metrics Projections - Analysts project 'Adjusted net revenue - Asset Management' at $261.01 million, indicating a year-over-year decline of 1.6% [5] - The estimate for 'Adjusted net revenue - Financial Advisory' is $417.05 million, reflecting a year-over-year increase of 2.2% [5] - 'Adjusted net revenue - Corporate' is expected to reach $9.44 million, suggesting a significant year-over-year decline of 17.8% [5] Assets Under Management - 'Assets under management - Total Fixed Income' is estimated at $45.12 billion, down from $46.11 billion year-over-year [6] - 'Assets under management - Total Equity' is projected to be $182.45 billion, compared to $190.43 billion from the previous year [6] - The estimated 'Assets under management - End of Period' is $236.20 billion, down from $244.67 billion year-over-year, while 'Assets under management - End of Period - Other' is expected to reach $8.64 billion, up from $8.13 billion [7] Stock Performance - Lazard shares have increased by 16.4% in the past month, outperforming the Zacks S&P 500 composite, which rose by 5.9% [7] - With a Zacks Rank 3 (Hold), LAZ is expected to closely follow overall market performance in the near term [7]