Legg Mason assets under management rise in January

Legg Mason Inc.'s assets under management rose in January, reversing course after declining a month before.

The Baltimore money manager reported assets of $654.1 billion, up nearly 1 percent from $648.9 billion in December.

Legg Mason's (NYSE: LM) equity assets in January rose to $151.3 billion, up from $145.5 billion in December.

Fixed income decreased slightly from $367 billion in December to $365.7 billion.

Liquidity assets — funds that can be quickly converted into cash — reached $137.1…