MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, July 26, 2005 Legg Mason, Calamos' Q2 Earnings Disappoint Legg Mason disappointed analysts with second quarter earnings seven cents lower than estimates. The Baltimore-based money manager brought in $112.8 million in net income, or 93 cents per diluted share. Assets under management totaled $397.5 billion, up 6.6 percent from $372.9 billion in the previous quarter. Mutual fund assets, which made up 20.8 percent of the total bucket, increased 5.4 percent from $78.4 billion in the first quarter to $82.6 billion in the second quarter. By asset class, Legg Mason managed 37.6 percent, or $149.6 billion, in equities and 62.4 percent, or $247.9 billion in fixed income assets. Investment advisory fee revenues totaled $237.1 million, an increase of 1.3 percent over the first quarter. Mutual fund investment advisory fee revenue increased 0.6 percent quarter-over-quarter, while separate account fee revenue increased 1.1 percent. Naperville, Illinois-based Calamos Asset Management reported second quarter earnings 30 cents per diluted share, or $7 million, eight pennies shy of analysts' expectations. Total assets under management grew three percent from the first quarter to $39.5 billion. Mutual fund assets made up 72 percent of total assets under management and increased four percent from $27.4 billion in the first quarter to $28.3 billion in the second quarter. Mutual funds were helped by $385 million in market appreciation as well as $582 million in net inflows. Printed from: MFWire.com/story.asp?s=10152 Copyright 2005, InvestmentWires, Inc. All Rights Reserved |