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0.00330503531851474 0.00503315836087526 0.00503315836087526 0.00503315836087526 0.00231136456915731 0.00447151837210808 0.00166331842827205 0.00801417060894731
Stock impact report

Lazard's (LAZ) February AUM Improves 1.7% on Upbeat Market [Yahoo! Finance]

Virtus Investment Partners, Inc. (VRTS) 
Last virtus investment partners, inc. earnings: 5/1 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.virtus.com
Company Research Source: Yahoo! Finance
This indicates a 1.7% increase from $243.8 billion as of Jan 31, 2024. The improvement in AUM balance for the month of February was driven by a market appreciation of $7 billion. However, it was partially offset by net outflows of $2 billion and foreign exchange depreciation of $0.8 billion. In February, Lazard's equity assets increased 2.3% from the prior month's level to $192.7 billion. Nevertheless, both fixed income and other income declined marginally to $47.3 billion and $8.08 billion, respectively, from the previous month. Lazard's strong AUM balance, coupled with innovative investment strategies and solutions, is expected to support its top line. We project average AUM and revenues to rise 21.2% and 14.5%, respectively, in 2024. A well-laddered debt maturity profile and impressive cost-control efforts are other positives. However, the current challenging macroeconomic environment and high reliance on financial advisory fees for most of its revenues are major concerns. Show less Read more
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