Sterne Agee cuts 2012 profit estimates and ratings for some publicly traded asset managers due...

|By:, SA News Editor

Sterne Agee cuts 2012 profit estimates and ratings for some publicly traded asset managers due to market weakness and a much more challenging net flow environment in August than previously anticipated: Legg Mason (LM -0.7%) and Federated Investors (FII -2.26%) are both reduced to underperform (I, II).