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Rating:Legg Mason Posts Gains, But Fund Revenues Fall Slightly Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, July 20, 2009

Legg Mason Posts Gains, But Fund Revenues Fall Slightly

Reported by Meredith Mazzilli

Legg Mason revealed its earnings reports Monday for its first quarter 2010, and total revenues for fund management were down slightly as compared to those reported for Q4 2008. Total assets under management were $659.9 billion, and fund advisory fee revenues fell slightly to $328 million in June 2009, from $336 million in March 2009. Advisory fee revenues for June 2008 were $569 million.

Mark Fetting, chairman and CEO, noted upcoming initiatives to continue to add value for shareholders.

"Initatives underway include bringing innovative product solutions to our client base, rounding out our investment capabilities and expanding our distribution relationships," Fetting said. 

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