MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 12, 2008 Fetting Says Legg Mason Has No Plans to Raise New Capital Legg Mason, which raised more than $2 billion of capital in two rounds this year, does not intend to raise additional capital to support its money funds with investments in risky securities, Reuters quoted the firm's top executive as saying. "We do not anticipate another capital raise," Legg Mason CEO Mark Fetting said at the Merrill Lynch Banking & Financial Services conference in New York, adding that the company has $2.5 billion in free cash to cover exposure to structured investment vehicles. Over the past year, Legg Mason put up more than $1.7 billion to support the money funds. Printed from: MFWire.com/story.asp?s=19874 Copyright 2008, InvestmentWires, Inc. All Rights Reserved |