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Franklin's (BEN) July AUM Ascends on Strong Market Gains

Zacks Equity Research
Updated
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Franklin Resources BEN has announced preliminary assets under management (AUM) by its subsidiaries of $733.7 billion for July 2018. Results display 1.3% rise from $724.1 billion recorded as of Jun 30, 2018. Strong market gains were recorded partly offset by net outflows. Further, the figure dipped 2.5% from the previous year.

Month-end total equity assets came in at $316.5 billion, up around 1.9% from the previous month and down marginally year over year. Of the total equity assets, around 64% were from international sources, while the remaining 36% came in from the United States.

Total fixed income assets were $268 billion, marginally up from the previous month and down 5.9% from the previous year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.

Franklin recorded $140.2 billion in hybrid assets, which inched up 1.8% from $137.7 billion witnessed in the previous month and edged down 1.6% from $142.5 billion reported in July 2017.

Cash management funds came in at $9 billion, down from the prior-month figure of $9.1 billion, and up from $6.1 billion recorded in the year-ago period.

The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. Nevertheless, regulatory restrictions and sluggish economic recovery might mar AUM growth and escalate costs.

Currently, Franklin carries a Zacks Rank #5 (Strong Sell). Shares of the company have declined around 12.9% over the last six months compared with the 4% loss incurred by the industry.



You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Invesco Ltd. IVZ, T. Rowe Price Group, Inc. TROW and Legg Mason Inc. LM are expected to release preliminary AUM results for July 2018, early next week.

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T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report
 
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Legg Mason, Inc. (LM) : Free Stock Analysis Report
 
Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
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