Legg Mason reported on Friday a total of $656 billion in assets under management as of Sept. 30, up 2% from June 30 and up 1% from Sept. 30, 2012, according to its earnings release.
Net outflows for the quarter were $1.4 billion, compared to outflows of $8.5 billion during the previous quarter. Equity outflows were $4 billion, compared to outflows of $700 million during the quarter ended June 30. Fixed-income inflows were $300 million, compared to inflows of $900 million during the prior quarter. Liquidity inflows were $2.3 billion, compared to outflows of $8.7 billion during the quarter ended June 30.
Net income for Legg Mason for the quarter ended Sept. 30 totaled $86.3 million, up 44.6% from the previous quarter and up 6.4% from the same quarter a year ago.
Revenue, at $669.9 million, was unchanged from the prior quarter and up 4.4% from the year-earlier quarter.