Legg Mason reported record high assets under management of $311 billion for the quarter ended Sept. 30, up 31% from the third quarter 2003 and up 5% from June 30. Overall net revenues for the quarter were a record high $568 million, up 24% from the third quarter of 2003. Net earnings were $91.7 million, up 38% from the year before.
Separately, Janus Capital Group reported $34.3 million in net income for the quarter ended Sept. 30, after adjustment for one-time charges and tax credits, down 45% from $62.4 million in the third quarter 2003. The decline partly reflected a drop in the group's assets under management to $130.2 billion from $146.5 billion the year before, according to the company's third-quarter earnings report, released today.