Legg Mason Reports Assets Under Management For August 2013
BALTIMORE, Sept. 11, 2013 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $645 billion as of August 31, 2013.
August total AUM declined from July primarily due to unfavorable markets and outflows in both equity and fixed income. August equity AUM results reflect previously announced $1.3B disposition of a non-core affiliate. Fixed income outflows were driven by continuing tax-free redemptions and the global sovereign mandate. Foreign exchange reduced AUM by approximately $1.0 billion for the month.
July total AUM benefited from favorable equity markets and liquidity inflows. Equity outflows were impacted by the previously disclosed global equity mandate outflow of $1.4B, which more than offset fixed income inflows.
| LEGG MASON, INC. AND SUBSIDIARIES |
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| (Amounts in billions) |
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| (Unaudited) |
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| Assets Under Management |
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| Preliminary |
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| Aug 2013 |
Jul 2013 |
Jun 2013 |
Mar 2013 |
Dec 2012 |
Sep 2012 |
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| Equity |
$ 163.5 |
$ 170.1 |
$ 164.4 |
$ 161.8 |
$ 145.5 |
$ 153.4 |
||||||
| Fixed Income |
347.0 |
352.5 |
351.0 |
365.1 |
367.0 |
369.4 |
||||||
| Long-Term |
510.5 |
522.6 |
515.4 |
526.9 |
512.5 |
522.8 |
||||||
| Liquidity |
134.0 |
133.8 |
129.1 |
137.7 |
136.4 |
127.9 |
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| Total |
$ 644.5 |
$ 656.4 |
$ 644.5 |
$ 664.6 |
$ 648.9 |
$ 650.7 |
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About Legg Mason
Legg Mason is a global asset management firm with $645 billion in assets under management as of August 31, 2013. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
SOURCE Legg Mason, Inc.
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