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Legg Mason Falls Most Since May After Bond Outflows Accelerate

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BOND BUBBLE BURSTING
"Outflows at the Baltimore-based asset manager rose to $33 billion from $8 billion in the previous quarter, led by fixed- income withdrawals of $24 billion, the company said today in a statement," Bloomberg notes. "The outflows cut assets under management by 3 percent to $681.6 billion. Legg Mason’s shares dropped as much as 9.6 percent, the most since May 5."
SOURCE:   Bloomberg

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