Aim-listed RAB said on Wednesday it had $5.4bn under management as of last week, down from $7.2bn at the start of the year, as inflows plunged, withdrawals doubled and the two largest funds recorded big losses.
Legg Mason Inc. reported a second straight quarterly loss because of costs to bail out money- market funds and $18.4 billion in investor withdrawals from the Baltimore-based company's stock and bond portfolios.