- FQ3 net income of $149.2M or $1.58 per share handily topped estimates, but the result included a benefit of $213.7M or $2.27 per share thanks to the new tax law, and a non-cash impairment charge of $195M, or $1.62 per share. Other items knocked $0.08 off reported profit. Overall, it sounds like a miss.
- End-of-period AUM of $767.2B vs. $754.4B three months earlier, and $710.4B a year ago. Equity AUM, however, saw net outflows of $3.2B during quarter, ending at $207.6B. Fixed-income net infows of $5.4B for quarter.
- In equity, just 35% of funds are beating their Lipper category average over the past year; 50% over three years, 45% over five years, 66% over 10 years. Fixed-income strategies: 81% topped the average benchmark over one year, 76% over three, 78% over five, 89% over 10.
- LM -5% premarket
- Previously: Legg Mason beats by $0.26, beats on revenue (Jan. 24)
- Now read: Prospect Capital: Potential Entry Points
Original article