Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $714.4 billion for Nov 2016. This is down roughly 1.2% from $723.0 billion as of Oct 31, 2016 and nearly 9.6% from $790.0 billion as of Nov 30, 2015.
The month-end total equity assets came in at $295.7 billion, stable with the prior month and down 8.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 34% were from the U.S.
Total fixed income assets were $276.6 billion, down 3.2% from the prior month and around 13% from $319.2 billion recorded in Nov 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% were taxable.
Franklin recorded $135.9 billion in hybrid assets, which increased slightly from $135.2 billion recorded in the prior month and decreased around 2.7% from $139.6 billion in Nov 2015.
Cash management funds were reported at $6.2 billion, down 1.6% sequentially and 6.1% from the year-ago quarter.
While the company’s global presence helps it diversify its AUM, regulatory restrictions and sluggish economic recovery might hurt its growth and raise costs.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock has gained more than 14% so far this year, outperforming the 6.7% growth for the Zacks categorized Investment Management industry.
A better-ranked stock in the same space is Virtus Investment Partners, Inc. (VRTS - Free Report) , sporting a Zacks Rank #1 (Strong Buy). The company’s shares gained over 8% so far this year. The Zacks Consensus Estimate for the stock inched up 9.3% to $5.75 per share over the last 60 days for the current year.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are yet to release their preliminary AUM for the same time period. Both the stocks carry the same Zacks Rank as Franklin.
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $714.4 billion for Nov 2016. This is down roughly 1.2% from $723.0 billion as of Oct 31, 2016 and nearly 9.6% from $790.0 billion as of Nov 30, 2015.
The month-end total equity assets came in at $295.7 billion, stable with the prior month and down 8.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 34% were from the U.S.
Total fixed income assets were $276.6 billion, down 3.2% from the prior month and around 13% from $319.2 billion recorded in Nov 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% were taxable.
Franklin recorded $135.9 billion in hybrid assets, which increased slightly from $135.2 billion recorded in the prior month and decreased around 2.7% from $139.6 billion in Nov 2015.
Cash management funds were reported at $6.2 billion, down 1.6% sequentially and 6.1% from the year-ago quarter.
While the company’s global presence helps it diversify its AUM, regulatory restrictions and sluggish economic recovery might hurt its growth and raise costs.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock has gained more than 14% so far this year, outperforming the 6.7% growth for the Zacks categorized Investment Management industry.
A better-ranked stock in the same space is Virtus Investment Partners, Inc. (VRTS - Free Report) , sporting a Zacks Rank #1 (Strong Buy). The company’s shares gained over 8% so far this year. The Zacks Consensus Estimate for the stock inched up 9.3% to $5.75 per share over the last 60 days for the current year.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are yet to release their preliminary AUM for the same time period. Both the stocks carry the same Zacks Rank as Franklin.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>
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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