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Legg Mason's (LM) AUM Up in October, Net Inflows Recorded
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Legg Mason Inc. , headquartered at Baltimore, reported a marginal rise in assets under management (AUM), as of Oct 31, 2017, compared with the prior month. Preliminary month-end AUM came in at $755.2 billion, marginally up from September 2017.
October’s AUM displayed $2.3 billion fixed income inflows, equity outflows of $0.2 billion and liquidity outflows of $1.5 billion. Alternative flows were breakeven. Notably, negative foreign exchange impact of $2.1 billion was also an unfavorable factor.
Legg Mason’s equity AUM at the end of October 2017 moved up around 1.1% from the prior-month figure to $203.4 billion. Fixed income AUM moved up slightly from the previous month to $412.2 billion. However, alternative assets edged down moderately to $65.7 billion.
Rise in fixed income and equity AUM, partially offset by lower Alternative AUM, resulted in long-term AUM of $681.3 billion. The figure marked slight growth from the previous month. Additionally, liquid assets, which are convertible into cash, declined 2.1% to $73.9 billion.
Competitive Landscape
Among other investment managers, Franklin Resources Inc. (BEN - Free Report) announced preliminary AUM by its subsidiaries of $750.7 billion for October 2017. Results displayed marginal fall from $753.2 billion recorded as of Sep 30, 2017. However, the figure moved up 3.8% from the prior-year quarter.
Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end AUM for October 2017. The company’s AUM came in at $928.4 billion, a rise of 1.2% from the prior month. The rise reflected favorable market returns, inflows in PowerShares QQQs and an increase in Money Market AUM, partially offset by net long-term outflows. Also, FX lowered October AUM by $2.8 billion.
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary AUM of $971 billion for October 2017. Results reflect 2.4% rise from $948 billion as of Sep 30, 2017. Client transfers from mutual funds to other portfolios of $2.5 billion were recorded in October 2017.
Our Viewpoint
Legg Mason has the potential to outperform its peers over the long run, backed by a diversified product mix and leverage to the changing market demography. However, absence of continued growth in equity markets and negative foreign exchange fluctuations remain headwinds.
Legg Mason currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 27.3% so far, this year, outperforming 24.3% growth recorded by the industry.
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Legg Mason's (LM) AUM Up in October, Net Inflows Recorded
Legg Mason Inc. , headquartered at Baltimore, reported a marginal rise in assets under management (AUM), as of Oct 31, 2017, compared with the prior month. Preliminary month-end AUM came in at $755.2 billion, marginally up from September 2017.
October’s AUM displayed $2.3 billion fixed income inflows, equity outflows of $0.2 billion and liquidity outflows of $1.5 billion. Alternative flows were breakeven. Notably, negative foreign exchange impact of $2.1 billion was also an unfavorable factor.
Legg Mason’s equity AUM at the end of October 2017 moved up around 1.1% from the prior-month figure to $203.4 billion. Fixed income AUM moved up slightly from the previous month to $412.2 billion. However, alternative assets edged down moderately to $65.7 billion.
Rise in fixed income and equity AUM, partially offset by lower Alternative AUM, resulted in long-term AUM of $681.3 billion. The figure marked slight growth from the previous month. Additionally, liquid assets, which are convertible into cash, declined 2.1% to $73.9 billion.
Competitive Landscape
Among other investment managers, Franklin Resources Inc. (BEN - Free Report) announced preliminary AUM by its subsidiaries of $750.7 billion for October 2017. Results displayed marginal fall from $753.2 billion recorded as of Sep 30, 2017. However, the figure moved up 3.8% from the prior-year quarter.
Invesco Ltd. (IVZ - Free Report) announced an increase in its preliminary month-end AUM for October 2017. The company’s AUM came in at $928.4 billion, a rise of 1.2% from the prior month. The rise reflected favorable market returns, inflows in PowerShares QQQs and an increase in Money Market AUM, partially offset by net long-term outflows. Also, FX lowered October AUM by $2.8 billion.
T. Rowe Price Group, Inc. (TROW - Free Report) announced preliminary AUM of $971 billion for October 2017. Results reflect 2.4% rise from $948 billion as of Sep 30, 2017. Client transfers from mutual funds to other portfolios of $2.5 billion were recorded in October 2017.
Our Viewpoint
Legg Mason has the potential to outperform its peers over the long run, backed by a diversified product mix and leverage to the changing market demography. However, absence of continued growth in equity markets and negative foreign exchange fluctuations remain headwinds.
Legg Mason currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 27.3% so far, this year, outperforming 24.3% growth recorded by the industry.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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