Surprisingly Tough Times for Asset Management Stocks

You would think that financial services firms would be doing well in this lengthy bull run, but that's not necessarily so. The shares of America's biggest asset managers have been trampled during this year's market rise.

A selection of 10 large publicly traded asset-manager stocks put together by CNBC are off an average of more than 25 percent from their 52-week highs. Some of the biggest names are the worst off:

• Legg Mason, down 34 percent this year
• Franklin Templeton, down 34 percent
• Janus Henderson, down 36 percent
• AMG, down 37 percent
• Invesco, down 40 percent