Legg Mason (LM), a global asset management firm, reported that as of May 31, 2014 preliminary assets under management were $686 billion, up from $673.2 billion on April 30, 2014.
This month’s AUM included fixed-income inflows of $0.4 billion, equity outflows of $0.9 billion and liquidity inflows of $1.0 billion.
For the first two months of Q1, long-term inflows were $0.4 billion due to $2.1 billion of fixed-income inflows which more than offset $1.6 billion in equity outflows, including $1 billion in previously disclosed equity redemptions. Liquidity outflows totaled $18.6 billion for the first two months of the quarter and included $20 billion in previously disclosed redemptions.
May’s AUM also includes $5 billion in AUM related to the QS Investors acquisition which closed on May 31, 2014.
Shares are down 2.66% at $48.98 with a 52-week range of $29.28 – $50.95.