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26.07.2017 22:05
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Legg Mason Reports Results For First Fiscal Quarter
Eine Tageszeitung (Symbolbild).
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PR Newswire
BALTIMORE, July 26, 2017
BALTIMORE, July 26, 2017 /PRNewswire/ -- Legg Mason, Inc. (NYSE: LM) today reported its operating results for the first fiscal quarter ended June 30, 2017.
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| | Quarters Ended | | |||||||||||||
| Financial Results | Jun | | Mar | | Jun | | |||||||||
| (Amounts in millions, except per share amounts) ARIVA.DE Börsen-GeflüsterKurse
| 2017 | | 2017 | | 2016 | | |||||||||
| Operating Revenues | $ | 793.8 | | | $ | 723.1 | | | $ | 700.2 | | | |||
| Operating Expenses | 686.6 | | | 613.2 | | | 626.6 | | | ||||||
| Operating Income | 107.2 | | | 109.9 | | | 73.6 | | | ||||||
| Net Income1 | 50.9 | | | 75.9 | | | 33.5 | | | ||||||
| Net Income Per Share - Diluted1 | 0.52 | | | 0.76 | | | 0.31 | | | ||||||
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| Assets Under Management2 | | | | | | | |||||||||
| (Amounts in billions) | | | | | | | |||||||||
| End of Period Assets Under Management | $ | 741.2 | | | $ | 728.4 | | | $ | 741.9 | | | |||
| Average Assets Under Management | 740.3 | | | 718.9 | | | 709.1 | | | ||||||
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| (1) Net Income Attributable to Legg Mason, Inc. | |||||||||||||||
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| (2) June 2017 includes $17.6 billion of separately managed account assets previously classified as Assets Under Advisement | |||||||||||||||
Joseph A. Sullivan, Chairman and CEO of Legg Mason said, "Legg Mason delivered strong earnings for the first fiscal quarter of 2018, with long-term inflows driven by continued momentum at Legg Mason Global Distribution. Our flows continue to benefit from our next generation investment capabilities with a number of our investment Affiliates, combined with our ongoing strength in traditional investment strategies. More generally, our progress in the quarter ties back to our focus on diversity by asset class, product and geography, which has materially expanded client choice. Two recent examples include the May launch of Legg Mason's first fully transparent active ETFs sub-advised by ClearBridge Investments, and the July launch of Royce's first ever smart beta small cap equity ETF.
"As a platform that has been built around the strategy of expanding client choice, we believe Legg Mason is uniquely positioned to find opportunity and gain market share in the face of changing industry dynamics. Our global reach allows us to better leverage our product innovations across client channels and our strong cash generation positions us to be a leader in returning capital to shareholders without sacrificing the ability to invest for the future."
Assets Under Management of $741.2 Billion
Assets Under Management ("AUM") were $741.2 billion at June 30, 2017 compared with $728.4 billion at March 31, 2017, resulting from the reclass of $16.0 billion of separately managed account assets previously classified as Assets Under Advisement, $8.4 billion in positive market performance and other, $0.7 billion in positive foreign exchange and long-term net inflows of $0.5 billion, partially offset by liquidity outflows of $11.5 billion.
| | Quarter Ended June 30, 2017 | ||||||||
| Assets Under Management | AUM (in billions) | | Flows (in billions) | | Operating | ||||
| Equity | $ | 196.2 | | | $ | 1.0 | | | 64 bps |
| Fixed Income | 403.6 | | | 0.3 | | | 27 bps | ||
| Alternative | 66.5 | | | (0.8) | 2 | | 67 bps | ||
| Long-Term Assets | 666.3 | | | 0.5 | | | | ||
| Liquidity | 74.9 | | | (11.5) | | | 13 bps | ||
| Total | $ | 741.2 | | | $ | (11.0) | | | 39 bps |
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| (1) Operating revenue yield equals total operating income less performance fees divided by average AUM | |||||||||
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| (2) Excludes realizations of $1.3 billion | |||||||||
At June 30, 2017, fixed income represented 55% of AUM, while equity represented 26%, liquidity represented 10% and alternatives represented 9%.
By geography, 68% of AUM was from clients domiciled in the United States and 32% from non-US domiciled clients.
Average AUM during the quarter was $740.3 billion compared to $718.9 billion in the prior quarter and $709.1 billion in the first quarter of fiscal year 2017. Average long-term AUM was $658.7 billion compared to $632.7 billion in the prior quarter and $597.7 billion in the first quarter of fiscal year 2017.
| Quarterly Performance | | | | | | | | | |
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| At June 30, 2017: | | 1-Year | | 3-Year Werbung Mehr Nachrichten zur Legg Mason Aktie kostenlos abonnieren
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