Legg Mason Reports Assets Under Management and Flows For May 2014
BALTIMORE, June 11, 2014 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) reported preliminary assets under management of $686 billion as of May 31, 2014. This month's AUM included fixed income inflows of approximately $0.4 billion, equity outflows of approximately $0.9 billion and liquidity inflows of $1.0 billion. For the first two months of our first fiscal quarter, long-term inflows were $0.4 billion due to $2.1 billion of fixed income inflows which more than offset approximately $1.6 billion in equity outflows, including $1.0 billion in previously disclosed equity redemptions. Liquidity outflows totaled $18.6 billion for the first two months of the quarter and included $20.0 billion in previously disclosed redemptions. May's AUM also includes approximately $5.0 billion in AUM related to the QS Investors acquisition which closed on May 31, 2014.
LEGG MASON, INC. AND SUBSIDIARIES | |||||||||||||||
(Amounts in billions) | |||||||||||||||
(Unaudited) | |||||||||||||||
Assets Under Management | |||||||||||||||
Preliminary | |||||||||||||||
By asset class: | May |
April |
March 2014 |
December 2013 |
September 2013 |
June 2013 |
|||||||||
Equity | $ 190.3 |
$ 184.3 |
$ 186.4 |
$ 182.5 |
$ 169.5 |
$ 164.4 |
|||||||||
Fixed Income | 364.0 |
358.1 |
365.2 |
355.6 |
355.0 |
351.0 |
|||||||||
Long-Term Assets | 554.3 |
542.4 |
551.6 |
538.1 |
524.5 |
515.4 |
|||||||||
Liquidity | 131.8 |
130.8 |
150.2 |
141.4 |
131.5 |
129.1 |
|||||||||
Total | $ 686.1 |
$ 673.2 |
$ 701.8 |
$ 679.5 |
$ 656.0 |
$ 644.5 |
1 Effective April 1, 2014, certain client assets previously reported as AUM have been reclassified as Assets Under Advisement (AUA). As a result of this change $12.2 billion of AUA in May 2014 and $12.4 billion of AUA in April 2014 are excluded from the table above. Includes, $12.6 billion in fixed income AUM in March 2014, $13.9 billion in December 2013, $15.1 billion in September 2013 and $15.6 billion in June 2013 related to the low fee sovereign mandate that has been reclassified as Assets Under Advisement (AUA).
Outflows related to the low fee sovereign mandate, and excluded from long-term net flows were $0.3 billion in May and $0.4 billion in April.
About Legg Mason
Legg Mason is a global asset management firm with $686 billion in assets under management as of May 31, 2014. 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.
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