Friday, 25 July 2014
Last updated 16 hours ago
Feb 1 2012 | 2:35am ET
Fund of hedge funds Permal Group suffered a 9% drop in assets last year, parent Legg Mason said.
Permal's assets fell from $19.6 billion to $17.8 billion in 2011. During the fourth quarter, the unit contracted by about $900 million.
All told, Legg Mason's overall assets under management fell by 6.7% during the year, to $627 billion. The firm's quarterly net income fell by more than half year-on-year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…