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Franklin's (BEN) November AUM Dips Sequentially to $1,561.7B
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Franklin Resources, Inc. (BEN - Free Report) has reported the preliminary assets under management (AUM) balance of $1,546.8 billion for November 2021. This reflects a marginal decrease of 0.95% from $1,561.7 billion recorded as of Oct 31, 2021.
This month's decrease in AUM was primarily due to the negative impacts of markets, offset by long-term net inflows. Specifically, long-term net inflows were supported by $7.4 billion of new client accounts related to the Investment Grade Credit team that joined in the fourth quarter. However, this was negated by a $3.6-billion multi-asset institutional redemption that had minimal impacts on the top line. Excluding these items, long-term net flows were positive.
Total fixed-income assets were $642.3 billion, up 1.2% from October 2021. Alternative assets aggregated $149.5 billion, up 0.7% from the prior month. Cash-management funds totaled $62.8 billion, up 4.7% sequentially.
Month-end equity assets of $545.1 billion dipped 3.5% from the previous month. Franklin recorded $147.1 billion in multi-asset class, down 4.1% from the prior month.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and acquisition moves. In October, Franklin changed the reported asset class of certain products as part of its integration efforts following acquisitions.
In November, it inked a $1.75-billion deal to acquire Lexington Partners in a bid to bulk up its alternative asset business. Also, in September, BEN announced a deal to buy O'Shaughnessy Asset Management, LLC, to boost its offerings in the SMA space.
However, a stringent regulatory backdrop remains a near-term concern for the company.
Shares of Franklin have gained 8.7% in the past three months, underperforming the 2.2% rally of the industry.
Invesco (IVZ - Free Report) announced a preliminary AUM for November 2021. IVZ's month-end AUM of $1,572.5 billion represented a decline of 1.3% from the previous month.
Invesco's AUM was negatively impacted by unfavorable market returns, which decreased it by $17 billion. Moreover, the decline in total AUM balance was primarily due to money market net outflows of $7.5 billion. Because of foreign exchange rate movements, Invesco's AUM declined $4.6 billion.
AllianceBernstein Holding L.P.'s (AB - Free Report) AUM of $759 billion for November 2021 represented a decline of nearly 1% from $765 billion recorded at the end of the prior month.Market depreciation more than offset total firm-wide net inflows, which led to the fall in AUM for AllianceBernstein.
Nevertheless, AllianceBernstein's global reach and solid asset balances are likely to boost top-line growth.
T. Rowe Price Group, Inc. (TROW - Free Report) reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month's $1.67 trillion. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.1 billion in November 2021 for TROW.
T. Rowe Price's total sponsored U.S. mutual funds balance was $869 billion, down 2.6% from October 2021.
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Franklin's (BEN) November AUM Dips Sequentially to $1,561.7B
Franklin Resources, Inc. (BEN - Free Report) has reported the preliminary assets under management (AUM) balance of $1,546.8 billion for November 2021. This reflects a marginal decrease of 0.95% from $1,561.7 billion recorded as of Oct 31, 2021.
This month's decrease in AUM was primarily due to the negative impacts of markets, offset by long-term net inflows. Specifically, long-term net inflows were supported by $7.4 billion of new client accounts related to the Investment Grade Credit team that joined in the fourth quarter. However, this was negated by a $3.6-billion multi-asset institutional redemption that had minimal impacts on the top line. Excluding these items, long-term net flows were positive.
Total fixed-income assets were $642.3 billion, up 1.2% from October 2021. Alternative assets aggregated $149.5 billion, up 0.7% from the prior month. Cash-management funds totaled $62.8 billion, up 4.7% sequentially.
Month-end equity assets of $545.1 billion dipped 3.5% from the previous month. Franklin recorded $147.1 billion in multi-asset class, down 4.1% from the prior month.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and acquisition moves. In October, Franklin changed the reported asset class of certain products as part of its integration efforts following acquisitions.
In November, it inked a $1.75-billion deal to acquire Lexington Partners in a bid to bulk up its alternative asset business. Also, in September, BEN announced a deal to buy O'Shaughnessy Asset Management, LLC, to boost its offerings in the SMA space.
However, a stringent regulatory backdrop remains a near-term concern for the company.
Shares of Franklin have gained 8.7% in the past three months, underperforming the 2.2% rally of the industry.
Currently, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Invesco (IVZ - Free Report) announced a preliminary AUM for November 2021. IVZ's month-end AUM of $1,572.5 billion represented a decline of 1.3% from the previous month.
Invesco's AUM was negatively impacted by unfavorable market returns, which decreased it by $17 billion. Moreover, the decline in total AUM balance was primarily due to money market net outflows of $7.5 billion. Because of foreign exchange rate movements, Invesco's AUM declined $4.6 billion.
AllianceBernstein Holding L.P.'s (AB - Free Report) AUM of $759 billion for November 2021 represented a decline of nearly 1% from $765 billion recorded at the end of the prior month.Market depreciation more than offset total firm-wide net inflows, which led to the fall in AUM for AllianceBernstein.
Nevertheless, AllianceBernstein's global reach and solid asset balances are likely to boost top-line growth.
T. Rowe Price Group, Inc. (TROW - Free Report) reported a preliminary AUM of $1.63 trillion as of Nov 30, 2021. This reflects a 2.6% decrease from the prior month's $1.67 trillion. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.1 billion in November 2021 for TROW.
T. Rowe Price's total sponsored U.S. mutual funds balance was $869 billion, down 2.6% from October 2021.