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Franklin's (BEN) September AUM Slightly Down on Lower Assets
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $733.3 billion for Sep 2016. This is down roughly 1% from $740.1 billion as of Aug 31 and nearly 5% from $770.9 billion as of Sep 30, 2015.
The month-end total equity assets came in at $303.7 billion, down around 0.8% from the prior month and 2.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 34% were from the U.S.
Total fixed income assets were $286.1 billion, down 1.4% from the prior month and around 8.6% from $312.9 billion recorded in Sep 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% were taxable.
Franklin recorded $137.4 billion in hybrid assets, which declined nearly 0.3% from $137.8 billion recorded in the prior month and around 0.7% from $138.3 billion in Sep 2015.
Cash management funds were reported at $6.1 billion, flat sequentially but down about 10.3% from $6.8 billion recorded in Sep 2015.
While the company’s global presence helps it diversify its AUM, regulatory restrictions and sluggish economic recovery might hurt growth and raise costs.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) reported AUM of $820.2 billion for Sep 2016. The figure reflected a fall of 0.1% from $821.0 billion recorded in the prior month. Legg Mason Inc. is yet to release its preliminary AUM for the same time period.
Invesco currently holds a Zacks rank #2 (Buy), while Legg Mason carries a Zacks Rank #3.
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Franklin's (BEN) September AUM Slightly Down on Lower Assets
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $733.3 billion for Sep 2016. This is down roughly 1% from $740.1 billion as of Aug 31 and nearly 5% from $770.9 billion as of Sep 30, 2015.
The month-end total equity assets came in at $303.7 billion, down around 0.8% from the prior month and 2.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 34% were from the U.S.
Total fixed income assets were $286.1 billion, down 1.4% from the prior month and around 8.6% from $312.9 billion recorded in Sep 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% were taxable.
Franklin recorded $137.4 billion in hybrid assets, which declined nearly 0.3% from $137.8 billion recorded in the prior month and around 0.7% from $138.3 billion in Sep 2015.
Cash management funds were reported at $6.1 billion, flat sequentially but down about 10.3% from $6.8 billion recorded in Sep 2015.
While the company’s global presence helps it diversify its AUM, regulatory restrictions and sluggish economic recovery might hurt growth and raise costs.
Franklin currently carries a Zacks Rank #3 (Hold). A better-ranked finance company is Apollo Global Management, LLC (APO - Free Report) with a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) reported AUM of $820.2 billion for Sep 2016. The figure reflected a fall of 0.1% from $821.0 billion recorded in the prior month. Legg Mason Inc. is yet to release its preliminary AUM for the same time period.
Invesco currently holds a Zacks rank #2 (Buy), while Legg Mason carries a Zacks Rank #3.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>