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.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Deal for Jackson-Orlando flights in works with Allegiant
- Baseball stadium for Farish Street? It’s possible
- Explosion at Coast fish plant leaves one dead, three injured
- State GOP chairman calls on McDaniel to hurry with challenge
- Guns OK inside Mississippi polling places, attorney general says
- McCarthy hired as CFO of Mississippi Development Authority
- Former Gov. Musgrove pushing lawsuit to school districts
- Former state lawmaker Green dies at home at age 62
- 'Get on Up' movie premiers in Madison with Chadwick Boseman and Tate Taylor walking the red carpet
- White House hotel making comeback in Biloxi