GlobeNewswire Inc | Jan 7, 2022 04:15PM EST

January 07, 2022

NEW YORK, Jan. 07, 2022 (GLOBE NEWSWIRE) -- Pzena Investment Management, Inc. (NYSE: PZN) today reported its preliminary assets under management as of December 31, 2021 and preliminary flows for the fourth quarter of 2021.

AUM for month-end December 2021, month-end November 2021, and month-end December 2020 are listed below:

Pzena Investment Management, Inc. Assets Under Management1 ($ billions)

As of As of As of December November December 31, 2021 30, 2021 31, 2020Account Type Separately Managed $ 19.4 $ 18.4 $ 17.3 AccountsSub-Advised Accounts 30.5 28.8 23.3 Pzena Funds 2.6 2.6 2.7 Total $ 52.5 $ 49.8 $ 43.3 Investment Strategy U.S. Value Strategies Large Cap Value $ 11.8 $ 11.2 $ 9.2 Mid Cap Value 3.0 2.9 2.6 Small Cap Value 2.6 2.5 2.2 Value 0.7 0.7 0.6 Other U.S. Strategies 0.2 0.2 0.2 Total U.S. Value 18.3 17.5 14.8 StrategiesGlobal & Non-U.S. Value StrategiesGlobal Value 15.9 14.7 11.8 International Value 7.7 7.4 6.9 Emerging Markets Value 7.1 6.9 6.5 European Value 3.0 2.8 2.9 Other Global & Non-U.S. 0.5 0.5 0.4 Value StrategiesTotal Global & Non-U.S. 34.2 32.3 28.5 Value StrategiesTotal $ 52.5 $ 49.8 $ 43.3 Account Domicile U.S. $ 32.0 $ 30.6 $ 26.5 Non-U.S. 20.5 19.2 16.8 Total $ 52.5 $ 49.8 $ 43.3

1 Numbers may be subject to rounding.

Flows and investment performance for the fourth quarter of 2021 are listed below1:

As of Market As of September Appreciation December 30, Inflows (Outflows) (Depreciation) 31, 2021 2021Account TypeSeparatelyManaged $ 18.8 $ 0.5 $ (0.2 ) $ 0.3 $ 19.4 AccountsSub-Advised 29.3 1.2 (1.1 ) 1.1 30.5 AccountsPzena Funds 2.7 0.1 (0.2 ) - 2.6 Total $ 50.8 $ 1.8 $ (1.5 ) $ 1.4 $ 52.5

1 Numbers may be subject to rounding.

About Pzena Pzena Investment Management, LLC, the firm's operating company, is a value-oriented investment management firm. Founded in 1995, Pzena Investment Management has built a diverse, global client base. More firm and stock information is posted at www.pzena.com.

Forward-Looking Statements This press release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements provide the Companys current views, expectations, or forecasts of future events and performance, and include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as anticipate, believe, continue, ongoing, estimate, expect, intend, may, plan, potential, predict, project or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking.

Among the factors that could cause actual results to differ from those expressed or implied by a forward-looking statement are those described in the sections entitled Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K, as filed with the SEC on March 10, 2021 and in the Company's Quarterly Reports on Form 10-Q as filed with the SEC. In light of these risks, uncertainties, assumptions, and factors, actual results could differ materially from those expressed or implied in the forward-looking statements. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date stated, or if no date is stated, as of the date of this release.

The Company is not under any obligation and does not intend to make publicly available any update or other revisions to any forward-looking statements to reflect circumstances existing after the date of this release or to reflect the occurrence of future events even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized.

Contact: Jessica Doran, 212-355-1600 or doran@pzena.com.