Franklin Resources, Inc. (BEN Quick QuoteBEN - Free Report) reported a preliminary asset under management (AUM) balance of $1,429.7 billion for July 2022. This reflects a 3.6% increase from $1,379.8 billion recorded as of Jun 30, 2022.

The rise in AUM balance was primarily driven by upbeat market performance, partially offset by the long-term net outflows.

Total fixed-income assets were $546.9 billion, up 2% from the June 2022 level. Month-end equity assets of $454 billion jumped 6.8% from the previous month. Cash-management funds totaled $59.3 billion, rising 3% sequentially.

Further, alternative assets aggregated $225.7 billion, up 0.4% from the prior month. BEN recorded $143.8 billion in multi-asset class, growing 5.6% from June 2022.

Franklin seems well-poised for growth on the back of a robust foothold in the global market and revenue diversification efforts. Also, it is growing through strategic acquisitions. These support the company in improving and expanding its alternative investments and multi-asset solutions platforms.

However, any decline in investment management fees due to market fluctuations and adverse foreign-exchange translations remain key concerns for BEN. A strict global regulatory environment is another headwind.

Shares of Franklin have lost 17.8% so far this year compared with the 22.6% decline of the industry.

Image Source: Zacks Investment Research

Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Lazard (LAZ Quick QuoteLAZ - Free Report) and T. Rowe Price (TROW Quick QuoteTROW - Free Report) are expected to release preliminary AUM results for July in the coming days.

At present, Lazard carries a Zacks Rank #4 (Sell), while T. Rowe Price has a Zacks Rank of 5 (Strong Sell).