Legg Mason reports decrease in assets
BALTIMORE — Legg Mason Inc. said today that its assets under management fell 4 percent during the month of May to $657.9 billion from $685.3 billion at the close of April.
Legg Mason’s stock assets under management totaled $163 billion at the end of last month, down from $177.8 billion in the previous month. Stocks have been battered in recent weeks due to investor concerns that rising debt in Europe could derail the global economic recovery.
The asset manager, based in Baltimore, said fixed-income assets slipped to $358.8 billion as of May 31 from $367.1 billion at the end of April. Liquidity assets shrank to $136.1 billion from $140.4 billion.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- MSU reminding fans that drones are prohibited at football games
- Former DPS employees sentenced for selling bogus driver's licenses
- Politics of paying for transportation: Hand wringing and a lot of talk
- Researchers: Trapping, not hunting, best way to control wild hogs
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Research on dogs could lead to better understanding of human cancer
- Keesler Medical Center set to begin $74M renovation project
- ONE MORE YEAR: Leaders want year more of study on comprehensive road, bridge upkeep
- Community college dedicating new welding technology center