Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021.
The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows. These were partly offset by cash-management net outflows.
Month-end total equity assets of $503.1 billion increased 2.6% from the previous month. Total fixed income assets came in at $656.7 billion, down 1.3% from January 2021. Franklin recorded $144.5 billion in hybrid assets, up 3.4% from the prior month.
Alternatives assets aggregated $129.1 billion, up slightly from the prior month’s $128.9 billion. Cash-management funds came in at $67.1 billion, down 4.4% from the prior-month figure of $70.2 billion.
Franklin is well poised for growth on the company’s robust foothold in the global market and acquisition moves. However, a stringent regulatory environment and sluggish economic recovery are near-term concerns for the bank.
Shares of the company have gained 28.8% in the past six months, underperforming the 32.8% rally of the industry.
Currently, Franklin carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Management Firms
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) will report AUM figures soon.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021.
The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows. These were partly offset by cash-management net outflows.
Month-end total equity assets of $503.1 billion increased 2.6% from the previous month. Total fixed income assets came in at $656.7 billion, down 1.3% from January 2021. Franklin recorded $144.5 billion in hybrid assets, up 3.4% from the prior month.
Alternatives assets aggregated $129.1 billion, up slightly from the prior month’s $128.9 billion. Cash-management funds came in at $67.1 billion, down 4.4% from the prior-month figure of $70.2 billion.
Franklin is well poised for growth on the company’s robust foothold in the global market and acquisition moves. However, a stringent regulatory environment and sluggish economic recovery are near-term concerns for the bank.
Shares of the company have gained 28.8% in the past six months, underperforming the 32.8% rally of the industry.
Currently, Franklin carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Management Firms
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) will report AUM figures soon.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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