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 September 30, 2011, total assets under management were $135.8
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 September 30, 2011, total assets under management (“AUM”) were $135.8 billion, of which approximately 82% was invested in
equities, 13% in fixed income, 4% in alternative investments and 1% in private equity funds. As of the same date, approximately 29% of our AUM was invested in international ( i.e. , non-U.S. and regional non-U.S.) investment strategies, 51%
was invested in global
investment strategies and 20% was invested in U.S. investment strategies, and our top ten clients accounted for 26% of our total AUM.
Approximately 90% of our AUM as of that date was managed on behalf of institutional clients, including corporations, labor unions, public
pension funds, insurance companies and banks, and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered
advisors, and approximately 10% of our AUM as of September 30, 2011 was managed on behalf of individual client relationships, which are
principally with family offices and high-net worth individuals.
We operate our Asset Management business through two principal
subsidiaries:
- Lazard
Asset Management (LAM), in
New York, Bahrain, Boston, Chicago,
Frankfurt,
Hamburg, Hong Kong, London, Milan, Montreal, San Francisco, Seoul, Sydney,Tokyo,Toronto and Zurich (aggregating $121.6 billion in total assets under management
as of September 30, 2011).
If you would like to find out more about LAM, click
here.
- Lazard
Frères Gestion,
in Paris (aggregating $12.7 billion in total
assets under management of September 30, 2011). If you would like to find out more, click
here.
In addition, our Asset Management business includes:
- The Edgewater Funds, in Chicago, with approximately $1.3 billion of AUM and unfunded
commitments as of
September 30, 2011.
- CWC, in Australia, with approximately $0.2 billion of AUM as of September 30, 2011.
- Lazard Wealth Management
offers an advisory platform for wealthy individuals and family groups for whom we provide our intellectual capital, unmatched client service and independent objective advice. We offer investment management advice and tailored solutions across disciplines,
leveraging our expertise in such areas as trusts & estates, financial and tax planning.
In addition, clients have access to Lazard Wealth Management's knowledge and expertise around the globe to create risk-managed optimal solutions.