Legg Mason Reports $3.9 Billion Of Long-Term Net Outflows

Shares of Legg Mason Inc (NYSE: LM) hit a new 52-week low of $33.59 on Wednesday after the company reported its December 2015 assets under management.

Legg Mason noted that its preliminary assets under management of $671.5 billion as of the end of December includes preliminary long-term net outflows of $3.9 billion. The company added that the breakdown consisted of fixed income outflows of $1.5 billion and equity outflows of $2.4 billion.

Legg Mason also stated that its liquidity outflows were $8.7 billion and its December's assets under management figure included a positive impact of $0.4 billion from foreign exchange rates.