Legg Mason Reports Assets Under Management and Flows for December 2017

BALTIMORE, Jan. 11, 2018 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of approximately $767 billion as of December 31, 2017. This month's AUM included flat long-term flows, consisting of net inflows in fixed income of $1.7 billion and in alternative of $0.2 billion, partially offset by net equity outflows of $1.9 billion.  Equity outflows included a $1.0 billion low-fee redemption. Alternative AUM reflects $0.1 billion of realizations¹. Liquidity outflows were $2.7 billion and this month's AUM included a positive foreign exchange impact of $0.8 billion.

About Legg Mason
Legg Mason is a global asset management firm with $767 billion in assets under management as of December 31, 2017. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).

* Effective April 1, 2017, Assets Under Management includes a transfer of certain assets which were previously included in Assets Under Advisement, principally retail separately managed account programs that operate and have fee rates comparable to programs managed on a fully discretionary basis. Comparable AUA for the quarters ended March 2017 and December 2016 were $16.0 billion and $13.7 billion respectively.

¹ Realizations represent investment manager-driven distributions primarily related to the sale of assets. Realizations are specific to our alternative managers and do not include client-driven distributions (e.g. client requested redemptions, liquidations or asset transfers).

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SOURCE Legg Mason, Inc.