08:24 AM EDT, 05/10/2024 (MT Newswires) -- Lazard ( LAZ ) said Friday that its preliminary assets under management declined to $240.81 billion in April from $250.43 billion a month earlier.

The decline was attributed to a market depreciation of $4.4 billion, net outflows of $3.6 billion and foreign exchange depreciation of $1.6 billion.

The firm's equity assets under management fell to $187.6 billion from $195.3 billion during March. Its fixed income assets decreased as well to $45.4 billion from $47.2 billion.