In the Margins

Legg Mason reports quarterly losses

May 2, 2016

By The Wall Street Journal

Legg Mason Inc. reported losses in its most recent quarter. “Macro headwinds negatively impacted operating results for the quarter, which were disappointing in terms of long-term flows and financial performance,” CEO Joseph Sullivan said. The Baltimore-based company made progress during the quarter in transforming its portfolio, however, an effort it began several years ago to diversify the business, Sullivan said. Read the original story from The Wall Street Journal.

 

 

Most Read

Top of the Agenda - Regulatory
ICI pursues reforming, modernizing '40 Act

The Investment Company Institute this week made public a set of recommendations to reform and modernize the Investment Company Act of 1940, which has not been ...

10 Things
10 Women...who chair the Audit Committee

The percentage of female independent directors serving on mutual fund boards has increased impressively in recent years, jumping from about 20% 10 years ago to nearly 40% ...