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Franklin (BEN) May AUM Improves 1% on Upbeat Market Returns
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Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1,543.5 billion for May 2021. This reflects nearly 1% growth from $1,529.3 billion recorded as of Apr 30, 2021.
The improvement in AUM balance was largely driven by market appreciation and cash-management net inflows, partly offset by modest long-term net outflows.
Month-end equity assets of $535.9 billion increased almost 1% from the previous month. Total fixed income assets came in at $654.3 billion, up 0.5% from April 2021. Franklin recorded $154.1 billion in multi-asset class, up 1% from the prior month.
Alternatives assets aggregated $134 billion, down 1% from the prior month’s $134.1 billion. Cash-management funds totaled $63.8 billion, up 5.6% sequentially.
Franklin is well poised for growth on the back of robust foothold in the global market and strategic acquisition moves. However, stringent regulatory backdrop remains a near-term concern for the company.
Shares of the company have gained 43% in the past six months, outperforming the 26% rally of the industry.
Cohen & Steers (CNS - Free Report) has reported preliminary AUM of $94.2 billion as of May 31, 2021, which reflects an increase of 1.5% from the prior-month level. Net inflows of $760 million and market appreciation of $815 million were partially offset by distributions of $201 million.
AllianceBernstein Holding (AB - Free Report) announced preliminary AUM balance of $731 billion during May 2021. The reflected an increase of 1% mainly driven by net inflows and market appreciation.
Invesco’s (IVZ - Free Report) preliminary AUM of May 2021 was $1,505.1 billion, which represents an increase of 3.2% from the prior month. The rise was driven by solid inflows, favorable markets and foreign exchange.
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Franklin (BEN) May AUM Improves 1% on Upbeat Market Returns
Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1,543.5 billion for May 2021. This reflects nearly 1% growth from $1,529.3 billion recorded as of Apr 30, 2021.
The improvement in AUM balance was largely driven by market appreciation and cash-management net inflows, partly offset by modest long-term net outflows.
Month-end equity assets of $535.9 billion increased almost 1% from the previous month. Total fixed income assets came in at $654.3 billion, up 0.5% from April 2021. Franklin recorded $154.1 billion in multi-asset class, up 1% from the prior month.
Alternatives assets aggregated $134 billion, down 1% from the prior month’s $134.1 billion. Cash-management funds totaled $63.8 billion, up 5.6% sequentially.
Franklin is well poised for growth on the back of robust foothold in the global market and strategic acquisition moves. However, stringent regulatory backdrop remains a near-term concern for the company.
Shares of the company have gained 43% in the past six months, outperforming the 26% rally of the industry.
Currently, Franklin carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Management Firms
Cohen & Steers (CNS - Free Report) has reported preliminary AUM of $94.2 billion as of May 31, 2021, which reflects an increase of 1.5% from the prior-month level. Net inflows of $760 million and market appreciation of $815 million were partially offset by distributions of $201 million.
AllianceBernstein Holding (AB - Free Report) announced preliminary AUM balance of $731 billion during May 2021. The reflected an increase of 1% mainly driven by net inflows and market appreciation.
Invesco’s (IVZ - Free Report) preliminary AUM of May 2021 was $1,505.1 billion, which represents an increase of 3.2% from the prior month. The rise was driven by solid inflows, favorable markets and foreign exchange.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>