AUM at U.S. fund firms has been hit hard by market volatility in January. Reuters reports that three major U.S. asset managers saw their AUM drop off sharply between January and December. AllianceBernstein Holdings reported a 6.1 percent drop in assets from $800 billion at the end of December to $751 billion at the end of January. Franklin Resources reported a 6 percent drop from $643.7 billion at the end of December to $605.2 billion at the end of January. Invesco saw it's assets fall from $500.1 billion at the end of December to $475.6 billion at the end of January, a 4.9 percent drop.  

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