Subsequent Event Martin Currie Acquisition (Notes)

3 Months Ended

Jun. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

13. Subsequent Event

On July 24, 2014, Legg Mason announced an agreement to acquire Martin Currie, a leading international equity specialist based in the United Kingdom with $9,800,000 in AUM as of June 30, 2014.  The acquisition is expected to close during the third quarter of fiscal 2015 and will require an initial payment at that time. In addition, contingent consideration payments may be payable upon the achievement of certain financial milestones for the fiscal years ending March 31, 2016, 2017 and 2018. Also, as part of this transaction, Legg Mason Australian Equities, with $2,500,000 in AUM as of June 30, 2014, will become part of Martin Currie, consistent with Legg Mason's strategy of creating fewer and larger investment affiliates.