Legg Mason has reported net income of $77m for the third quarter of fiscal year 2015, compared with $81.7m in the year ago quarter.
For the quarter ended 31 December 2014, operating revenues were $719m, down compared to $720.1m in the third quarter of fiscal 2014.
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Operating expenses were $599.6m, marginally up compared to $598.4m in the third quarter of fiscal 2014.
Assets under management (AUM) were $709.1bn as of 31 December 2014, up slightly from $707.8bn as of 30 September 2014 and up 4% from $679.5bn as of 31 December 2013.
Legg Mason chairman and CEO Joseph Sullivan said, "I am pleased with another quarter of continued momentum for Legg Mason. The company delivered long term inflows of $8.8 billion, led by nearly $10bn in fixed income inflows partially offset by $1bn in outflows from equity products.
"The strength of fixed income flows for the period reinforces our belief in a significant, long term opportunity for Legg Mason, as we enjoy a wide breadth of active investment capabilities with strong performance that address the needs of our clients globally."
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