Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1,429.7 billion for July 2022. This reflects a 3.6% increase from $1,379.8 billion recorded as of Jun 30, 2022.
The rise in AUM balance was primarily driven by upbeat market performance, partially offset by the long-term net outflows.
Total fixed-income assets were $546.9 billion, up 2% from the June 2022 level. Month-end equity assets of $454 billion jumped 6.8% from the previous month. Cash-management funds totaled $59.3 billion, rising 3% sequentially.
Further, alternative assets aggregated $225.7 billion, up 0.4% from the prior month. BEN recorded $143.8 billion in multi-asset class, growing 5.6% from June 2022.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and revenue diversification efforts. Also, it is growing through strategic acquisitions. These support the company in improving and expanding its alternative investments and multi-asset solutions platforms.
However, any decline in investment management fees due to market fluctuations and adverse foreign-exchange translations remain key concerns for BEN. A strict global regulatory environment is another headwind.
Shares of Franklin have lost 17.8% so far this year compared with the 22.6% decline of the industry.
Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Lazard (LAZ - Free Report) and T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for July in the coming days.
At present, Lazard carries a Zacks Rank #4 (Sell), while T. Rowe Price has a Zacks Rank of 5 (Strong Sell).
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1,429.7 billion for July 2022. This reflects a 3.6% increase from $1,379.8 billion recorded as of Jun 30, 2022.
The rise in AUM balance was primarily driven by upbeat market performance, partially offset by the long-term net outflows.
Total fixed-income assets were $546.9 billion, up 2% from the June 2022 level. Month-end equity assets of $454 billion jumped 6.8% from the previous month. Cash-management funds totaled $59.3 billion, rising 3% sequentially.
Further, alternative assets aggregated $225.7 billion, up 0.4% from the prior month. BEN recorded $143.8 billion in multi-asset class, growing 5.6% from June 2022.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and revenue diversification efforts. Also, it is growing through strategic acquisitions. These support the company in improving and expanding its alternative investments and multi-asset solutions platforms.
However, any decline in investment management fees due to market fluctuations and adverse foreign-exchange translations remain key concerns for BEN. A strict global regulatory environment is another headwind.
Shares of Franklin have lost 17.8% so far this year compared with the 22.6% decline of the industry.
Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Lazard (LAZ - Free Report) and T. Rowe Price (TROW - Free Report) are expected to release preliminary AUM results for July in the coming days.
At present, Lazard carries a Zacks Rank #4 (Sell), while T. Rowe Price has a Zacks Rank of 5 (Strong Sell).
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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