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Franklin (BEN) October AUM Down on Low Equity & Hybrid Assets
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Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Month-end total equity assets came in at $418.1 billion, down 3.2% from the previous month. Total fixed income assets were $652.8 billion, slightly down from September 2020. Alternatives assets totaled $122.4 billion, down from the prior-year quarter’s $124 billion.
Franklin recorded $131.6 billion in hybrid assets, down 1.6% from the $133.8 billion witnessed last month. Cash management funds came in at $66.7 billion, down from the prior-month figure of $72.4 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 6.1% in the past six months compared with 26% growth registered by the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which inched up 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for October later this week.
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Franklin (BEN) October AUM Down on Low Equity & Hybrid Assets
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.
Month-end total equity assets came in at $418.1 billion, down 3.2% from the previous month. Total fixed income assets were $652.8 billion, slightly down from September 2020. Alternatives assets totaled $122.4 billion, down from the prior-year quarter’s $124 billion.
Franklin recorded $131.6 billion in hybrid assets, down 1.6% from the $133.8 billion witnessed last month. Cash management funds came in at $66.7 billion, down from the prior-month figure of $72.4 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 6.1% in the past six months compared with 26% 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 $71.3 billion as of Oct 31, 2020, which inched up 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for October later this week.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>