Legg Mason, the asset manager, investment and private bank, saw assets under management increase by 34% to $236.9bn (€200.8bn) in the nine months to the end of September compared with $176.6bn in the same period last year.

For the third quarter, assets under management rose 9% from $216.6bn to $236.9bn. Of the $20.3bn increase, $13.9bn came from new money. Ten of Legg Mason's 21 funds, and 81% of total assets, performed in the top quartile of their respective categories.