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Franklin's (BEN) November 2018 AUM Up on Net Market Gains

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Franklin Resources (BEN - Free Report) has announced preliminary assets under management (AUM) by its subsidiaries of $683.3 billion for November 2018. Results display marginal rise from $682.7 billion recorded as of Oct 31, 2018. Net market gains, partially offset by net outflows led to the increase. However, the figure dipped 9.3% from the previous year.

Month-end total equity assets came in at $286.1 billion, slightly up from the previous month but down 10.3% year over year. Of the total equity assets, around 62% were from international sources, while the remaining 38% came in from the United States.

Total fixed income assets were $255.7 billion, down modestly from the last month and around 10.3% from last year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.

Franklin recorded $132.2 billion in hybrid assets, which was moderately down from $132.5 billion witnessed in the previous month and decreased 7.4% from $142.8 billion reported in November 2017.

Cash management funds came in at $9.3 billion, up from the prior-month figure of $9.2 billion, as well as the year-ago tally of $6.5 billion.

The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. Nevertheless, regulatory restrictions and sluggish economic recovery might mar AUM growth and escalate costs.

Currently, Franklin carries a Zacks Rank #3 (Hold). Shares of the company have gained around 2.3% over the last three months, as against the 16.6% loss incurred by the industry.



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) , T. Rowe Price Group, Inc. (TROW - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for November 2018, later this week.

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