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Franklin (BEN) August AUM Up on Higher Equity & Hybrid Assets

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Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.44 trillion for August 2020. Results display a 0.7% increase from the $1.43 trillion recorded as of Jul 31, 2020.

Month-end total equity assets came in at $447.7 billion, up 4.6% from the previous month. Total fixed income assets were $659 billion, slightly down from July 2020.

Franklin recorded $137.3 billion in hybrid assets, up 2.3% from the $134.2 billion witnessed last month. Cash management funds came in at $73.9 billion, down from the prior-month figure of $82 billion.

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

Shares of the company have gained 19.8% in the past six months compared with 35.1% growth registered by 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.

Competitive Landscape

Cohen & Steers (CNS - Free Report) reported preliminary AUM of $72.1 billion as of Aug 31, 2020, up 2.8% from the prior-month level. Market appreciation of $1.2 billion and net inflows of $1 billion were partially offset by distributions of $211 million.

Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for August next week.

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