Legg Mason sees drop in managed assets

Posted: 3:40 pm Wed, August 10, 2011
By Daily Record Staff

Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management fell in July to $655.4 billion, down 1.1 percent from the $662.5 billion recorded in the prior month.

Fixed-income investments closed at $370.6 billion, up $5.2 billion from the June total of $365.4 billion. Managed assets in stocks dropped to $176.2 billion, down $5.3 billion from the $181.5 billion recorded in June 2011.

Liquid assets, such as money-market mutual funds, fell to $108.6 billion, a drop of $7 billion from the $115.6 billion posted in June of this year.