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Franklin (BEN) April AUM Climbs on Higher Equity Assets
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $741.0 billion for Apr 2017. Results displayed marginal rise from $740.0 billion as of Mar 31, 2017. However, the figure edged down around 1% from the prior-year quarter.
Month-end total equity assets came in at $311.5 billion, slightly up from the prior month, and 1.7% year over year. Of the total equity assets, around 66% were from international sources, while the remaining 34% came from the U.S.
Total fixed income assets were $281.7 billion, slightly down from the previous month and 5.9% from $299.5 billion recorded in Apr 2016. Overall, tax-free assets accounted for only 25% of the fixed income assets, while the remaining 75% was taxable.
Franklin recorded $141.4 billion in hybrid assets, which was slightly down from $141.9 billion recorded in the prior month, but up 4.7% from $135.0 billion recorded in Apr 2016.
Cash management funds were reported at $6.4 billion, up from $6.0 billion in the prior month and $6.3 billion recorded in Apr 2016.
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and escalate costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which pose concerns to its operations, and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock gained 13.5% over the past six months, outperforming 9.1% growth recorded by the Zacks categorized Investment Management industry.
A better-ranked finance company is Lazard Ltd (LAZ - Free Report) , carrying a Zacks Rank #2 (Buy). The company’s shares gained over 12.6% over the past six months. The Zacks Consensus Estimate for the stock climbed 4.4% to $3.35, over the last 30 days, for 2017.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for Apr 2017, later next week.
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Franklin (BEN) April AUM Climbs on Higher Equity Assets
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $741.0 billion for Apr 2017. Results displayed marginal rise from $740.0 billion as of Mar 31, 2017. However, the figure edged down around 1% from the prior-year quarter.
Month-end total equity assets came in at $311.5 billion, slightly up from the prior month, and 1.7% year over year. Of the total equity assets, around 66% were from international sources, while the remaining 34% came from the U.S.
Total fixed income assets were $281.7 billion, slightly down from the previous month and 5.9% from $299.5 billion recorded in Apr 2016. Overall, tax-free assets accounted for only 25% of the fixed income assets, while the remaining 75% was taxable.
Franklin recorded $141.4 billion in hybrid assets, which was slightly down from $141.9 billion recorded in the prior month, but up 4.7% from $135.0 billion recorded in Apr 2016.
Cash management funds were reported at $6.4 billion, up from $6.0 billion in the prior month and $6.3 billion recorded in Apr 2016.
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and escalate costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which pose concerns to its operations, and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock gained 13.5% over the past six months, outperforming 9.1% growth recorded by the Zacks categorized Investment Management industry.
A better-ranked finance company is Lazard Ltd (LAZ - Free Report) , carrying a Zacks Rank #2 (Buy). The company’s shares gained over 12.6% over the past six months. The Zacks Consensus Estimate for the stock climbed 4.4% to $3.35, over the last 30 days, for 2017.
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) and Legg Mason Inc. are expected to release preliminary AUM results for Apr 2017, later next week.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Click here for Zacks' private trades >>