Legg Mason Continues to grow its Assets under Management portfolio
July 21, 2017
Legg Mason, Inc. stands out as one of America’s best investment management firms. Its lengthy history, having started operations in 1899 as a brokerage firm is, of course, a testament of weathering tough times and remaining competitive. With an international reach, the company offers products aligned to equities, domestic and international management consultancy, alternative investment needs as well as fixed income.
In April 2017, the company announced that it had under its umbrella a total of $728.4 billion in assets under management (AUM), which had risen from 2.5 % in December 2016. Several key inputs had led to this significant rise and a generally positive market performance.
Mason further reported that net amount flowing in had reached $800 million in the first quarter of 2017, compared to the same period in 2016 when net outflows amounted to $10.9 billion. Net outflows were recorded at $16.5 billion.
Further, the sale of LMM AND Glouston Capital Partners helped to offset to a tune of $3.9 billion. Out of the $3.9billion net inflows, fixed income accounted for $3.5 billion, while equity raked in $3.1 billion.
Chairman and CEO Joseph Sullivan expressed his satisfaction with the long-term net inflows posted by Western (Asset Management Co.) Brandywine Global Investment Management ClearBridge (Investments) and Martin Currie, the company’s subsidiaries serving different markets.
One of the substantial improvements recorded was a 17% rise in total revenue from the same period in 2016 which set the total income at $723.1 million.
The past one year has also seen strategic changes happen at the top management of Legg Mason Australia, as Andy Sowerby took the mantle from Annalisa Clark who retired in July 2016. Sowerby is a distinguished management executive who joined Legg Mason from Martin Currie Investment Management, where he served as executive director of sales, marketing, and client service.
At Legg Mason, Sowerby oversees distribution, marketing and client service for all Legg Mason-branded funds and is also responsible for the institutional business of other firm’s investment affiliates.
Legg Mason has maintained a lead in the investment choices in various markets and is currently ranked the 20th largest assets manager in the world. Being able to invest in diversified markets and rolling out a large number of products is clearly one of the company’s strengths. Drawing from the wealth of experience gained over the years, the company strategically speculates the markets and gives relevant advice to investors while keeping an eye on world economic trends.