Core Insights - Lazard, Inc. reported a preliminary asset under management (AUM) of $258.4 billion as of August 31, 2025, reflecting a 1.8% increase from July 31, 2025, driven by market appreciation and foreign exchange gains, partially offset by net outflows [1][10] Group 1: AUM Performance - The company's equity assets rose 1.9% month-over-month to $202.5 billion, while fixed-income AUM also increased by 1.9% to $46.8 billion, and other assets climbed nearly 1% to $8.9 billion [2][10] - Over the past years, Lazard has shown long-term resilience in AUM growth, with a compound annual growth rate (CAGR) of 1.7% from 2016 to 2024, despite declines in 2022 and the first half of 2025 [3] Group 2: Strategic Initiatives - Lazard has taken strategic steps to enhance its asset management franchise, including the establishment of Lazard Elaia Capital, a European growth capital initiative focused on technology sector investments [4] - The company finalized an initial investment in a strategic partnership with Elaia Partners in April 2024, and acquired Truvvo Partners in March 2023, adding $3.8 billion of AUM [4][5] Group 3: Industry Context - Peers such as Franklin Resources and T. Rowe Price have also experienced AUM growth, with Franklin reporting a preliminary AUM of $1.64 trillion and T. Rowe's AUM increasing to $1.73 trillion [6][7][8] - The growth trends in the industry are supported by market appreciation and strong demand for diversified investment solutions [8] Group 4: Market Performance - Over the past year, Lazard's shares have risen 18.6%, slightly outperforming the industry's growth of 18% [9]