Legg Mason Reports Assets Under Management For August 2013

BALTIMORE, Sept. 11, 2013 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $645 billion as of August 31, 2013.

August total AUM declined from July primarily due to unfavorable markets and outflows in both equity and fixed income.  August equity AUM results reflect previously announced $1.3B disposition of a non-core affiliate.  Fixed income outflows were driven by continuing tax-free redemptions and the global sovereign mandate.  Foreign exchange reduced AUM by approximately $1.0 billion for the month. 

July total AUM benefited from favorable equity markets and liquidity inflows.  Equity outflows were impacted by the previously disclosed global equity mandate outflow of $1.4B, which more than offset fixed income inflows.

About Legg Mason

Legg Mason is a global asset management firm with $645 billion in assets under management as of August 31, 2013. 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).

SOURCE Legg Mason, Inc.