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Franklin Resources Reports Mixed Results for March AUM
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $740.0 billion for Mar 2017. This is a marginal rise from $738.2 billion as of Feb 28, 2017. However, the figure decreased slightly from the prior-year period.
Month-end total equity assets came in at $310.2 billion, up around 0.5% from the prior month, and 2.0% year over year. Of the total equity assets, around 66.1% were from international sources while the remaining 33.9% came from the U.S.
Total fixed income assets were $281.9 billion, almost in line with the previous month but down 5.9% from $299.6 billion recorded in Mar 2016. Overall, tax-free assets accounted for only 25.4% of the fixed income assets while the remaining 74.6% was taxable.
Franklin recorded $141.9 billion in hybrid assets, down from $142.1 billion recorded in the prior month. However, it improved 7.0% from $132.6 billion in Mar 2016.
Cash management funds were reported at $6.0 billion, down from $6.3 billion in the prior month and from $6.2 billion recorded in Mar 2016.
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and escalate costs. Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which pose concerns for its operations, and may even hurt profitability.
The company’s stock gained 21.0% over the past six months, outperforming the 12.0% growth for the Zacks categorized Investment Management industry.
A better-ranked finance company is Ameriprise Financial, Inc. (AMP - Free Report) , carrying a Zacks Rank #2 (Buy). The company’s shares gained over 30.0% over the past six months. The stock’s Zacks Consensus Estimate for 2017 climbed 1.3%, over the last 60 days.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for Mar 2017, early next week.
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Franklin Resources Reports Mixed Results for March AUM
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $740.0 billion for Mar 2017. This is a marginal rise from $738.2 billion as of Feb 28, 2017. However, the figure decreased slightly from the prior-year period.
Month-end total equity assets came in at $310.2 billion, up around 0.5% from the prior month, and 2.0% year over year. Of the total equity assets, around 66.1% were from international sources while the remaining 33.9% came from the U.S.
Total fixed income assets were $281.9 billion, almost in line with the previous month but down 5.9% from $299.6 billion recorded in Mar 2016. Overall, tax-free assets accounted for only 25.4% of the fixed income assets while the remaining 74.6% was taxable.
Franklin recorded $141.9 billion in hybrid assets, down from $142.1 billion recorded in the prior month. However, it improved 7.0% from $132.6 billion in Mar 2016.
Cash management funds were reported at $6.0 billion, down from $6.3 billion in the prior month and from $6.2 billion recorded in Mar 2016.
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and escalate costs. Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which pose concerns for its operations, and may even hurt profitability.
The company’s stock gained 21.0% over the past six months, outperforming the 12.0% growth for the Zacks categorized Investment Management industry.
Franklin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A better-ranked finance company is Ameriprise Financial, Inc. (AMP - Free Report) , carrying a Zacks Rank #2 (Buy). The company’s shares gained over 30.0% over the past six months. The stock’s Zacks Consensus Estimate for 2017 climbed 1.3%, over the last 60 days.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for Mar 2017, early next week.
Looking for Ideas with Even Greater Upside?
Today's investment ideas are short-term, directly based on our proven 1 to 3 month indicator. In addition, I invite you to consider our long-term opportunities. These rare trades look to start fast with strong Zacks Ranks, but carry through with double and triple-digit profit potential. Starting now, you can look inside our home run, value, and stocks under $10 portfolios, plus more. Click here for a peek at this private information >>