Legg Mason posts loss on charges

BOSTON (Reuters) - U.S. asset manager Legg Mason Inc (LM.N: Quote, Profile, Research) posted a quarterly loss on Friday as it took charges related to a bail-out of money market funds exposed to risky securities.

Legg Mason, the second-largest publicly traded U.S. asset manager, reported a net loss of $31.3 million, or 22 cents a share, for its fiscal first quarter, compared with net income of $191 million, or $1.32 a share, a year earlier.

(Reporting by Muralikumar Anantharaman; editing by John Wallace)