Legg Mason: Enormous Share Buyback And Normalizing Rates Fuel 65% Upside
Convex Strategies • 14 Comments
Convex Strategies • 14 Comments
Oct. 12, 2015, 11:54 AM
- BAML's Savita Subramanian figures more than 41% of active managers are beating their benchmarks this year vs. only 19% who did so in 2014. At this pace, mutual funds are on track for their best relative performance since 2009.
- It's possibly some welcome news for shops like Legg Mason (LM), Gamco (GBL +0.2%), Janus (JNS -1.1%), Invesco (IVZ -0.7%), T. Rowe Price (TROW -2%), and AllianceBernstein (AB -1.8%), at least some of whom have been losing AUM to ETFs.
Oct. 12, 2015, 8:13 AM
- LM total AUM of $672.1B falls from $699.2B a quarter earlier.
- Equity AUM of $177.6B vs. $197.3B.
- Fixed-income AUM of $368.4B vs. $372.2B.
Sep. 11, 2015, 8:12 AM
- LM August 31 total AUM of $681.9B slips from $695.5B one month ago and $709.1B at the start of the year.
- Equity AUM of $185.1B vs. $198.5B a month ago.
- Fixed-income AUM of $369.4B vs. $372.9B.
Aug. 13, 2015, 10:07 AM
Aug. 11, 2015, 8:53 AM
- LM total end of July AUM of $695.5B slips from $699.2B a month earlier, and $709.1B at the start of the year.
- Fixed Income AUM of $372.9B vs. $372.2B in June and $367.4B at the start of the year.
- Equity AUM of $198.5B vs. $197.3B and $198.7B.
- Liquidity AUM of $124.1B vs. $129.7B and $143B.
- Long-term inflows in July of $2.8B - equity $1.6B and fixed income of $1.2B.
- This month's AUM had a negative foreign exchange impact of $2.8B
Jul. 31, 2015, 7:13 AM
- Legg Mason (NYSE:LM) declares $0.20/share quarterly dividend, in line with previous.
- Forward yield 1.64%
- Payable Oct. 26; for shareholders of record Oct. 8; ex-div Oct. 6.
Jul. 31, 2015, 7:04 AM
- Legg Mason (NYSE:LM): FQ1 EPS of $0.84 beats by $0.01.
- Revenue of $708.6M (+2.1% Y/Y) beats by $5.88M.
Jul. 30, 2015, 5:30 PM
Jul. 29, 2015, 7:35 AM
- Sydney, Australia-based RARE Infrastructure is a pioneer in global listed infrastructure investing, says Legg Mason (NYSE:LM), and has $7.6B in AUM.
- The deal in which Legg Mason will acquire a 75% stake, is expected to be accretive to earnings in year one after closing (expected in Q4).
Jul. 13, 2015, 8:24 AM
- Legg Mason (NYSE:LM) end of June AUM of $699.2B slips from $702.7B three months earlier.
- Equity AUM of $197.3B vs. $199.4B.
- Fixed-income AUM of $372.2B vs. $376.1B.
Jun. 9, 2015, 8:38 AM
- LM end of May AUM of $706.8B flat from April.
- Equity AUM of $201.9B vs. $200.4B.
- Fixed-income AUM of $376.4B vs. $378.7B.
May 12, 2015, 8:18 AM
- LM end of April AUM of $706.8B vs. $702.7B one month earlier.
- Equity AUM of $200.4B vs. $199.4B.
- Fixed-income AUM of $378.7B vs. $376.1B.
- Long-term outflows of $100M during April, with fixed-income inflows of $1B offset by equity outflows of $900M and liquidity outflows of $200M.
- This month's AUM included $3B in positive forex impact.
May 1, 2015, 7:30 AM
- Adjusted FQ4 income of $117.9M or $1.03 per share vs. $113.1M and $0.98 in FQ3, $103.5M and $0.86 one year ago.
- Operating revenues of $702.3M up 3% Y/Y. Operating expenses of $573.4M up 2%.
- AUM of $702.7B up a hair from one year ago.
- Long-term net inflows of $6.2B included fixed-income inflows of $7.6B, slightly offset by equity outflows of $1.4B. Fixed-income represents 54% of AUM, equity 28%, and liquidity 18%.
- Conference call at 8 ET
- Previously: Legg Mason beats by $0.06, beats on revenue (May 1)
- LM flat premarket
May 1, 2015, 7:01 AM
- Legg Mason (NYSE:LM): FQ4 EPS of $0.73 beats by $0.06.
- Revenue of $702.3M (+3.1% Y/Y) beats by $4.9M.
Apr. 30, 2015, 5:30 PM
Apr. 13, 2015, 8:10 AM
- LM total AUM at the end of March of $702.7B fell from 709.1B at the start of the year. This includes a negative forex impact of $3.2B.
- Equity AUM of $199.4B vs. $198.7B.
- Fixed-income AUM of $376.1B vs. $367.4B.
- Liquidity AUM of $127.2B vs. $143B.
Legg Mason, Inc. is a global asset management company, which provides investment management and related services to institutional and individual clients, company sponsored mutual funds and other pooled investment vehicles through financial intermediaries. The company's investment products... More
Industry: Asset Management
Country: United States
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