Lazard reports 4.79% drop in its October AUM

Lazard Inc (NYSE: LAZ) reported on Tuesday preliminary assets under management of $235.8 billion as of October 31st 2024.

This marked a decrease from $247.657 billion as of September 30th.

The drop in AUM came as a result of market depreciation of $4.4 billion, foreign exchange depreciation of $4.2 billion and net outflows of $3.3 billion.

Equity AUM shrank to $182.101 billion at the end of October from $191.532 billion at the end of September.

And, Fixed Income AUM dropped to $45.514 billion in October from $47.933 billion in September.

Stock Performance

The shares of Lazard Inc (LAZ) closed 3.23% ($1.87) lower at $56.09 in New York on Tuesday, as they extended the losses from the previous three market sessions.

The company’s total market cap now stands at $5.074 billion.

The shares of Lazard Inc (LAZ) went up 0.37% in 2023, compared with a 10.99% gain for the benchmark index, NYSE Composite (NYA).

The company’s shares have risen 61.18% so far this year.