BOSTON, March 7 (Reuters) - Legg Mason Inc will report improvements for its closely watched fixed-income and alternatives funds during February, the Baltimore company’s chief executive said on Wednesday.
Speaking at an investor conference sponsored by Citigroup in New York, which was webcast, Legg Mason Chief Executive Mark Fetting said he is “encouraged” by the figures the company will report next week showing changes in its assets under management during February.
The company has struggled with steady outflows of investor cash from its mutual funds, particularly from its big Western Asset Management fixed-income unit. Fetting did not give more specific flow data. He said the record of its equity funds in February was more “mixed.”
“Overall we remain encouraged by what we’re seeing, particularly on the fixed-income and alternatives space,” he said.
On Feb. 10 the company said it had $631.3 billion under management as of Jan. 31, including $357.6 billion in fixed-income assets.