Legg Mason reported $372.9 billion in assets under management at the group's money management units of as of March 31, up 3% from the previous quarter and up 30% from the year before. The firm had $20 billion in inflows in the first quarter, more than offsetting $7.6 billion in market depreciation, according to the release. Subsidiary Western Asset Management was the "primary contributor" to the jump in assets.
Legg Mason's net earnings for the quarter were $117.6 million, up 4.3% from the previous quarter and up 28% from the previous year. Revenues for the latest quarter were $665 million, up 4.4% from the previous quarter and up 19% from the year before.
