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Legg Mason sees expansion hopes in Martin Currie
trueAlthough Martin Currie Ltd. has been struggling with underperforming strategies and plummeting assets, Legg Mason Inc. executives saw the Edinburgh-based boutique as the ideal firm to help expand Legg Mason's active non-U.S. equity capabilities.
Legg Mason acquiring Martin Currie
trueLegg Mason is acquiring Martin Currie Investment Management, a U.K.-based active global equity specialist.
Managers not straying far from traditional fixed income
trueExpectations that asset owners would be investing more in alternatives to fixed income didn't come to fruition in 2013, according to Pensions & Investments' 2013 money manager survey, as assets in traditional yield-seeking credit investments were the only ones to see gains last year.
Legg Mason AUM increases 3.3% in quarter
trueLegg Mason reported $701.8 billion in assets under management as of March 31 in its earnings report released Thursday, a 3.3% increase from the end of the previous quarter and up 5.6% from a year earlier.
Mercer drops PIMCO, Western Asset as managers of bond fund
trueMercer replaced Pacific Investment Management Co. and Western Asset Management Co. as subadvisers on a bond fund.
Legg Mason adds sales director in Australia
trueColin Taylor joined Legg Mason in Melbourne, Australia, as a director of sales.
Batterymarch's demise marks the end of an era
trueLegg Mason Inc.'s acquisition of QS Investors LLC spells the end of Batterymarch Financial Management Inc., the 45-year-old Boston-based quantitative equity manager that many saw as a pioneer in its field.
Legg Mason to acquire global quant manager QS Investors
trueLegg Mason agreed to acquire QS Investors, a New York-based customized solutions and global quantitative equities provider.
Legg Mason's AUM up 3.6% in quarter
trueLegg Mason on Friday reported a total of $679.5 billion in assets under management as of Dec. 31, up 3.6% from the end of the previous quarter and up 4.7% from a year earlier.
Legg Mason signs head of business development
trueThomas K. Hoops was named executive vice president and head of business development at Legg Mason.
Markets give managers nice boost in quarter
truePublicly traded money managers saw modest gains in assets under management for the quarter ended Sept. 30, helped generally by rising equity markets.
Legg Mason's AUM posts 2% uptick in Q3
trueLegg 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.
Legg Mason closings, revamp to cost $20 million
trueLegg Mason expects to incur a total of $20 million in severance and other costs in this and the next quarter.
Ohio Highway Patrol terminates WAMCO to fund non-traditional bond commitment
trueOhio State Highway Patrol Retirement System, Columbus, terminated Western Asset Management Co. from a $22 million domestic high-yield fixed-income portfolio, said Mark Atkeson, executive director.
Next step for Legg Mason: international
trueLegg Mason CEO Joseph Sullivan is looking to acquire or create an overseas equity brand, but analysts say he might have trouble attaining his goal.