Legg Mason assets under management dip in October

Legg Mason's assets under management dip by 0.8 percent in October

Associated Press

BALTIMORE (AP) -- Mutual fund company Legg Mason Inc. on Monday said that it had $645.6 billion in assets under management at the end of October, down 0.8 percent from a month earlier.

The Baltimore-based company's total assets are up 3 percent in 2012.

Legg Mason had $627 billion in assets under management at the beginning of this year and $650.7 billion at the end of September.

Fixed income assets rose slightly to $371.8 million in October, while equity assets under management and liquidity both edged lower.

Shares of Legg Mason rose 19 cents to $25.19 in afternoon trading, near the mid-point of its 52-week trading range.

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