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Legg’s assets under management increase in October

On the strength of what it called “favorable markets,” Legg Mason Inc., of Baltimore, a global asset manager, reported assets under management in October rose to $669.9 billion, or 3.8 percent higher than the $645.6 billion that the company reported a year earlier.

The most recent figure was also a 2.1 percent increase over September 2013’s total of $656.6 billion.

On a year-to-year basis, fixed-income investments in October 2013 dropped to $359.3 billion compared to $371.8 billion in October 2012.

Managed assets in stocks rose to $175.4 billion versus $146.5 billion in the year-ago period.

Liquid assets, such as money market funds, increased to $135.2 billion compared to $127.3 billion reported for October 2012.

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