Legg Mason Inc. of Baltimore, a global asset manager, said its assets under management fell to $611.8 billion at the end of September 2011, down more than 9.1 percent from the $673.5 billion recorded in September 2010.

Fixed-income investments declined to $355.5 billion from $371.6 billion in the previous year. Managed assets in stocks dropped to $144.9 billion from $169.6 billion in September 2010.

Liquid assets, such as money-market mutual funds, likewise fell, to $111.4 billion in September 2011 from $132.3 billion in the year-ago period.

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