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Franklin's (BEN) February AUM Dips 2.3% on Unfavorable Markets
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Franklin Resources, Inc. (BEN - Free Report) reported a preliminary assets under management (AUM) balance of $1,486.9 billion for February 2022. This reflects a 2.3% decrease from $1,521.8 billion recorded as of Jan 31, 2021.
Last month's decline in AUM was primarily due to the negative impacts of markets and long-term net flows.
Total fixed-income assets were $612.5 billion, down 2.2% from the January 2021 reading. Cash-management funds totaled $61 billion, down 3.3%, sequentially.
Month-end equity assets of $509.8 billion declined 3.1% from the previous month’s level. Franklin recorded $148.6 billion in multi-asset class, down 1.9% from the prior month’s level. Nonetheless, alternative assets aggregated $155 billion, up marginally from the prior month’s level.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and acquisition moves. In January, Franklin completed its previously announced acquisition of O’Shaughnessy Asset Management, LLC (OSAM), a preeminent quantitative asset management firm, thereby reinforcing its position in the separately managed account (SMA) space.
Through the acquisition, Franklin will leverage OSAM’s factor-based investment management and custom indexing solution capabilities via the latter’s popular flagship Canvas platform. Ever since the platform was rolled out in late 2019, it has seen robust growth, with $2 billion AUM of OSAM’s aggregate $6.5 billion AUM as of Nov 30, 2021.
However, any decline in investment management fees due to market fluctuations and adverse foreign-exchange translations remain key concerns for Franklin. A strict regulatory environment, globally, is another headwind.
Shares of Franklin have dipped 0.9% in the past year compared with the 11.8% decline of the industry.
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $98.9 billion as of Feb 28, 2022, slipping 3.1% from the prior-month level. Market depreciation of $3.5 billion and distributions of $197 million were partially offset by net inflows of $479 million.
CNS recorded total institutional accounts of $39.7 billion at the end of February, down 3.5% from the January-end level. Of the total institutional accounts, advisory accounts were $23.4 billion, while the rest was sub-advisory.
Invesco (IVZ - Free Report) announced a preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion was down 1.3% from the previous month-end’s reading.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion.
Among other asset managers, T. Rowe Price (TROW - Free Report) is expected to release preliminary AUM results for February in the coming days.
Over the past year, shares of TROW have lost 20.3%.
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Franklin's (BEN) February AUM Dips 2.3% on Unfavorable Markets
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary assets under management (AUM) balance of $1,486.9 billion for February 2022. This reflects a 2.3% decrease from $1,521.8 billion recorded as of Jan 31, 2021.
Last month's decline in AUM was primarily due to the negative impacts of markets and long-term net flows.
Total fixed-income assets were $612.5 billion, down 2.2% from the January 2021 reading. Cash-management funds totaled $61 billion, down 3.3%, sequentially.
Month-end equity assets of $509.8 billion declined 3.1% from the previous month’s level. Franklin recorded $148.6 billion in multi-asset class, down 1.9% from the prior month’s level. Nonetheless, alternative assets aggregated $155 billion, up marginally from the prior month’s level.
Franklin seems well-poised for growth on the back of a robust foothold in the global market and acquisition moves. In January, Franklin completed its previously announced acquisition of O’Shaughnessy Asset Management, LLC (OSAM), a preeminent quantitative asset management firm, thereby reinforcing its position in the separately managed account (SMA) space.
Through the acquisition, Franklin will leverage OSAM’s factor-based investment management and custom indexing solution capabilities via the latter’s popular flagship Canvas platform. Ever since the platform was rolled out in late 2019, it has seen robust growth, with $2 billion AUM of OSAM’s aggregate $6.5 billion AUM as of Nov 30, 2021.
However, any decline in investment management fees due to market fluctuations and adverse foreign-exchange translations remain key concerns for Franklin. A strict regulatory environment, globally, is another headwind.
Shares of Franklin have dipped 0.9% in the past year compared with the 11.8% decline of the industry.
Image Source: Zacks Investment Research
Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $98.9 billion as of Feb 28, 2022, slipping 3.1% from the prior-month level. Market depreciation of $3.5 billion and distributions of $197 million were partially offset by net inflows of $479 million.
CNS recorded total institutional accounts of $39.7 billion at the end of February, down 3.5% from the January-end level. Of the total institutional accounts, advisory accounts were $23.4 billion, while the rest was sub-advisory.
Invesco (IVZ - Free Report) announced a preliminary AUM for February 2022. IVZ’s month-end AUM of $1,531.4 billion was down 1.3% from the previous month-end’s reading.
Invesco recorded net long-term inflows of $3.4 billion and money market net inflows of $3.6 billion.
Among other asset managers, T. Rowe Price (TROW - Free Report) is expected to release preliminary AUM results for February in the coming days.
Over the past year, shares of TROW have lost 20.3%.