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Legg Mason AUM down month-over-month

Legg Mason Inc., the Baltimore-based asset manager, reported Wednesday that assets under management in November were $707.4 billion, down from October’s $719.5 billion. However, AUM increased from $679.5 billion at the end of last year. Fixed income investments in November closed at $367 billion, managed assets in stocks totaled $201.1 billion and liquid assets, such as money-market mutual funds, were $139.3 billion. Legg Mason said November’s AUM reflected a negative foreign exchange impact of $3.3 billion and also was lowered $9.5 billion by the Legg Mason Investment Counsel sale, which closed on Nov. 10.

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