Legg Mason reported $780.2 billion in assets under management as of June 30, up 3% from March 31 and up 4.8% from June 30, 2018.
Fixed income represented 56% of Legg Mason's AUM as of June 30, while equities made up 26%, with alternatives and liquidity each 9%.
Total net outflows for the quarter ended June 30 were $500 million, compared to $8.1 billion in outflows for the previous quarter and net outflows of $3.8 billion for the quarter ended June 30.
Long-term net inflows were $1.1 billion for the quarter, compared to no net flows for the previous quarter and net outflows of $900 million for the quarter ended June 30, 2018.
"Legg Mason delivered solid operating results highlighted by long-term net inflows, driven by fixed income and alternatives across a wide variety of geographies and channels," Chairman and CEO Joseph A. Sullivan said Thursday in the company's earnings release.
"Further, short-term investment performance improved, and we made meaningful progress on our strategic restructuring efforts. As a result, we remain on track to meet or exceed projected cost savings by the end of fiscal year 2021, even as we invested in growth opportunities, including alternatives and retail distribution," Mr. Sullivan said.
Legg Mason reported in its earning statement that its equity strategies had net outflows of $3.6 billion, compared to net outflows of $1 billion in the previous quarter and net outflows of $2.2 billion during the three months ended June 30, 2018.
Liquidity vehicles saw net outflows of $1.6 billion during the most recent quarter, compared to net outflows of $8.1 billion for the quarter ended March 31 and net outflows of $2.9 billion for the year-prior quarter.
Fixed-income strategies, meanwhile, had net inflows of $3.9 billion, compared to net inflows of $100 million in the prior quarter and net inflows of $1.3 billion from the quarter ended a year earlier.