Core Insights - Lazard, Inc. reported a preliminary asset under management (AUM) of $267.8 billion as of October 31, 2025, marking a 1.2% increase from the previous month, driven by market appreciation of $6.9 billion, offset by foreign exchange depreciation of $2.2 billion and net outflows of $1.4 billion [1][10] AUM Growth and Performance - The company has shown steady AUM growth over the years, with a compound annual growth rate (CAGR) of 1.7% from 2016 to 2024, despite experiencing declines in AUM during 2022 and early 2025 due to global uncertainties [2] - In the first nine months of 2025, Lazard's AUM increased year over year, indicating a gradual recovery following a challenging first half [2] Asset Class Breakdown - In October 2025, Lazard's equity assets rose by 1.9% month over month to $212.6 billion, while other assets increased by 1.7% to $8.9 billion; however, fixed-income assets saw a decline of 2.2% to $46.1 billion [3] Strategic Initiatives - The acquisition of Truvvo Partners in March 2023 added $3.8 billion in assets, enhancing Lazard's wealth management capabilities and expanding its high-net-worth client base [4] - The partnership with Elaia Partners in Paris led to the establishment of Lazard Elaia Capital, strengthening the firm's exposure to private market investments, particularly in the technology sector [4] - These strategic initiatives aim to diversify Lazard's asset mix and capture growth opportunities across public and private markets, supporting long-term AUM expansion [4] Competitive Landscape - Lazard's peers, Franklin Resources, Inc. and T. Rowe Price Group, Inc., have also experienced steady AUM growth, with Franklin reporting a preliminary AUM of $1.69 trillion (up 1.7% month over month) and T. Rowe Price at $1.79 trillion (up 1.3% month over month) [6][7][8] Market Performance - Over the past year, Lazard's shares have increased by 11.7%, contrasting with a 2.8% decline in the industry [9]