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
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Study: Mississippi has highest sales tax rate in U.S.
- Prescription for success — Transcript Pharmacy continues fast growth
- New law on taxing methods hailed as big win for businesses
- MSU researchers develop timber-management software
- Panther Creek megasite — Putting a value proposition out there
- Panther Creek's location in medical industry zone boosts bio-med prospects
- BRENT CHRISTENSEN — Entrepreneurs: A vital fuel for Mississippi’s Economy
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- Counties ‘hoping to get it right’ as they await Tuscaloosa Marine shale boom