Legg Mason’s profit rose 24% to $177.5 million, or $1.23 a share, up from $143.7 million, or $1 a share, in the year earlier period.
Revenue also was strong, rising 14% to $1.17 billion, while fees from mutual funds went up 23% to $590.7 million and fees from separately managed accounts rose 7.2% to $376 million.
“Performance drives flows,” commented
And that’s not going to improve anytime soon, according to
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