We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Legg Mason AUM Rises in April, Fixed Income Inflows Recorded
Read MoreHide Full Article
Legg Mason Inc. reported 1.3% growth in assets under management (AUM) as of Apr 30, 2019, from the previous month. Preliminary month-end AUM came in at $767.5 billion, up from the March 2019 figure of $758 billion.
The company’s April AUM displayed $2.5 billion fixed income inflows and alternative inflows of $0.1 billion, partly offset by liquidity and equity net outflows of $1.1 billion and $1.4 billion, respectively. Notably, alternative AUM recorded $0.1 billion of realizations. However, negative foreign-exchange impact of $0.5 billion remained an unfavorable factor.
Legg Mason’s equity AUM at the end of April climbed 3.5% from the prior-month figure to $209 billion. Fixed income AUM was up slightly sequentially to $422.5 billion. Further, alternative assets increased around 1% to $66.8 billion.
Rise in fixed income, equity and alternative AUM, resulted in long-term AUM of $700.7 billion. The figure marks a 1.5% increase from the previous month. However, liquid assets, which are convertible into cash, edged down 1.5% to $66.8 billion.
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. Nonetheless, absence of continued growth in equity markets and foreign-exchange fluctuations remain headwinds.
Shares of the company have lost around 18.7% over the last six months, as against 9.1% growth recorded by the industry.
Among other investment managers, Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, around up 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428million, partly offset by distributions of $195 million, drove this upswing.
Invesco (IVZ - Free Report) has also announced its AUM for April. The company’s preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month. This growth was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions. However, unfavorable foreign-exchange movement brought down the month’s AUM by $0.4 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM by its subsidiaries of $720.5 billion for April. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside. However, the figure dipped 1.6% from the previous year.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
Image: Bigstock
Legg Mason AUM Rises in April, Fixed Income Inflows Recorded
Legg Mason Inc. reported 1.3% growth in assets under management (AUM) as of Apr 30, 2019, from the previous month. Preliminary month-end AUM came in at $767.5 billion, up from the March 2019 figure of $758 billion.
The company’s April AUM displayed $2.5 billion fixed income inflows and alternative inflows of $0.1 billion, partly offset by liquidity and equity net outflows of $1.1 billion and $1.4 billion, respectively. Notably, alternative AUM recorded $0.1 billion of realizations. However, negative foreign-exchange impact of $0.5 billion remained an unfavorable factor.
Legg Mason’s equity AUM at the end of April climbed 3.5% from the prior-month figure to $209 billion. Fixed income AUM was up slightly sequentially to $422.5 billion. Further, alternative assets increased around 1% to $66.8 billion.
Rise in fixed income, equity and alternative AUM, resulted in long-term AUM of $700.7 billion. The figure marks a 1.5% increase from the previous month. However, liquid assets, which are convertible into cash, edged down 1.5% to $66.8 billion.
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. Nonetheless, absence of continued growth in equity markets and foreign-exchange fluctuations remain headwinds.
Shares of the company have lost around 18.7% over the last six months, as against 9.1% growth recorded by the industry.
Legg Mason currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Among other investment managers, Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, around up 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428million, partly offset by distributions of $195 million, drove this upswing.
Invesco (IVZ - Free Report) has also announced its AUM for April. The company’s preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month. This growth was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions. However, unfavorable foreign-exchange movement brought down the month’s AUM by $0.4 billion.
Franklin Resources (BEN - Free Report) recorded preliminary AUM by its subsidiaries of $720.5 billion for April. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside. However, the figure dipped 1.6% from the previous year.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>