Lazard, Inc. (LAZ) reported its preliminary asset under management (AUM) balance of $245 billion for May 2024. This reflected a 1.7% increase from $240.8 billion as of Apr 30, 2024.The rise in AUM balance was driven by a market appreciation of $4.4 billion and foreign exchange appreciation of $1.4 billion. These were partially offset by net outflows of $1.6 billion.In May, Lazard’s equity assets and fixed income increased 1.7% and 2.1% from the prior month’s level to $190.8 billion and $46.4 billion, respec ...