Lazard reported $93.9 billion in assets under management at the end of the second quarter, down 1.3% from the previous quarter, according to a company filing with the SEC. The company reported a net outflow of $1.6 billion during the quarter, according to the filing. For the year, Lazard's AUM increased roughly 13%, attributed to market appreciation and inflows into global and regional strategies.
Overall, Lazard reported asset management revenues of $129.8 million for the quarter, up 19% from the previous quarter. The company also reported management fees of $112.2 million for the three months ended June 30, a record for a single quarter.