Our Asset Management
business provides investment management and advisory services to
institutional clients, financial intermediaries,
private clients, and investment vehicles around
the world. Our goal in our Asset Management business
is to produce superior risk-adjusted investment
returns and provide investment solutions customized
for our clients. As of December 31, 2007, total assets under management were $141.4
billion,
managed on behalf of institutional (corporations,
labor unions, public pension funds, insurance
companies and banks; and through sub-advisory relationships,
mutual fund sponsors, broker-dealers and registered
advisors) and individual clients (principally
family offices and high-net worth individuals).
Many of our equity investment strategies share
an investment philosophy that centers on fundamental
security selection with a focus on the trade-off
between a company’s valuation and its financial
productivity. As of December 31, 2007, 84% of our assets
under management were invested in equities, 10% in fixed
income, 3% in alternative investments, 2% in
cash and 1% in private equity funds. As of
the same date, approximately 44% of our assets
under management were invested in international
(i.e., non-U.S.) investment strategies, 37% in
global investment strategies and 19% in U.S.
investment strategies.
We operate our Asset Management business through two principal
subsidiaries:
- Lazard
Asset Management (LAM), in
New York, San Francisco, London, Milan, Minneapolis, Frankfurt,
Hamburg, Tokyo, Sydney and Seoul (aggregating $126.9 billion
in total assets under management as of December 31, 2007).
If you would like to find out more about LAM, click
here.
- Lazard
Frères Gestion and Fonds Partenaires-Gestion,
in Paris (aggregating $14.5 billion in total assets under management of December 31, 2007). If you would like to find out more, click
here.
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