Permal Assets Fall 9%

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.


In Depth

Bob Doll's Ten Market Predictions For 2016

Jan 7 2016 | 9:37pm ET

Well-known market strategist Robert Doll has published his annual list of ten predictions...

Lifestyle

Citadel's Ken Griffin Donates $40M To New York's Museum of Modern Art

Dec 22 2015 | 9:23pm ET

Citadel founder Ken Griffin has donated $40 million to New York’s Museum of Modern...

Guest Contributor

Hedge Fund Marketing - Making the Most of Your Salesperson

Jan 20 2016 | 8:11pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth takes a close...