Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Franklin Resources, Inc. (BEN) - free report >>
T. Rowe Price Group, Inc. (TROW) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Franklin Resources, Inc. (BEN) - free report >>
T. Rowe Price Group, Inc. (TROW) - free report >>
Image: Bigstock
Franklin (BEN) February AUM Up on Favorable Market Returns
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 >>