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 June 30, 2010, total assets under management were $123.5 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 June 30, 2010, total assets under management (“AUM”) were $123.5 billion, of which approximately 84% was invested in equities, 12% in fixed income, 3% in alternative investments and 1% in private equity funds. As of the same date, approximately 31% of our AUM was invested in international ( i.e. , non-U.S. and regional non-U.S.) investment strategies, 50% was invested in global investment strategies and 19% was invested in U.S. investment strategies, and our top ten clients accounted for 22% of our total AUM. Approximately 89% 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 11% of our AUM as of June 30, 2010 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 and Toronto (aggregating $111.7 billion in total assets under management as of June 30, 2010). If you would like to find out more about LAM, click here.



• Lazard Frères Gestion, in Paris (aggregating $10.9 billion in total assets under management of June 30, 2010). If you would like to find out more, click here.

In addition, our Asset Management business includes: 

• The Edgewater Funds, in Chicago, with approximately $700 million of AUM and unfunded commitments as of June 30, 2010.
  
  
• CWC, in Australia, with approximately $200 million of AUM as of June 30, 2010.
  
  
• 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.

More >