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Legg reports slight decrease in assets under management

Legg Mason Inc., of Baltimore, a global asset manager, reported August’s assets under management totaled $644.5 billion, a 0.83 percent increase from AUM of $639.2 billion in August 2012.

However, the August 2013 total was 1.813 percent lower than $656.4 billion in AUM that the firm reported in July. In a statement, Legg said the drop in August was “primarily due to unfavorable markets and outflows in both equity and fixed income [investments].”

By category, fixed income in August was $347 billion versus $352.5 billion in July. Equity investments in stocks totaled $163.5 billion, compared to $170.1 billion recorded in July. Liquid assets, such as money market funds, were $134 billion in August, virtually the same as the July figure of $133.8 billion