Legg Mason Inc. reported assets under management in February 2012 totaled $638 billion, a 1.1 percent increase over the $631.3 billion recorded in January, but a 5.8 percent decrease from the $677.6 billion posted in March 2011.

Breaking down the February figure into categories, the Baltimore-based global asset management firm reported fixed-income investments in February rose to $358.3 billion from $357.6 billion in January; equity investments in stocks increased to $162.9 billion from $160.9 billion in the prior month; and liquid assets such as money market funds rose to $116.8 billion from $112.8 billion in January.

The February report reflects Legg’s previously disclosed divestiture of Bartlett & Co. that reduced long-term assets under management by $2.8 billion ($1.8 billion equity and $1.0 billion fixed income).

In January, employees of Cincinnati-based Bartlett, the oldest investment management firm in that Ohio city, bought their company back from Legg Mason, which had acquired it in 1995.

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