Legg Mason acquisition positive, says Wells Fargo After Legg Mason agreed to buy international equity manager Martin Currie, Wells Fargo thinks the deal will enable Legg Mason to gain a foothold in international equity, while enabling Currie to leverage Legg Mason's retail distribution channel. The firm does not expect the deal to affect Legg Mason's share buybacks. It keeps an Outperform rating on the shares.
Legg Mason reports assets under management $702.7B as of March 31 Legg Mason reported preliminary assets under management of $702.7B as of March 31. This month's AUM included preliminary long-term inflows of $2.6B driven by fixed income inflows of $3.9B. Equity and Liquidity outflows were $1.3B and $6.5B, respectively. March AUM included a negative foreign exchange impact of $3.2B.