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Franklin's (BEN) September AUM Declines 3.3% on Weaker Markets
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Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1.37 trillion for September 2023. This reflects a 3.3% decrease from the $1.42 trillion recorded as of Aug 31, 2023.
The decline in the AUM balance was primarily due to the impacts of negative markets and slight long-term net outflows.
Total month-end fixed-income assets were $483.1 billion, down 3.4% from the prior month’s level. Equity assets of $430.4 billion decreased 4.8% from August 2023. BEN recorded $145 billion in multi-asset class, down 3% sequentially. Alternative assets aggregated $254.9 billion, down marginally from the prior month.
Also, cash-management funds totaled $60.8 billion, which decreased 3.6% from the prior month’s level.
Despite being a diversified company, Franklin’s AUM is exposed to market fluctuations, foreign exchange translations, regulatory changes and a sudden slowdown in overall business activities, which are likely to act as near-term headwinds. Hence, any decline in investment management fees due to market fluctuations remains a key concern for BEN.
Nonetheless, Franklin seems well-poised for growth on the back of a robust foothold in the global market and revenue-diversification efforts. Also, it is growing through strategic acquisitions. These are supporting the company in improving and expanding its alternative investments and multi-asset solution platforms.
Over the past six months, shares of BEN have declined 8.8% against the industry's growth of 6.2%.
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $75.2 billion as of Sep 30, 2023, which reflects a decrease of 6.1% from the prior-month level. The market depreciation of $4.3 billion, net outflows of $290 million and distributions of $283 million led to the decline.
CNS recorded total institutional accounts of $31.2 billion at the end of September 2023, declining 6.8% from the August-end level. Of the total institutional accounts, advisory accounts were $17.9 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) announced the preliminary AUM for September 2023. The company’s month-end AUM of $1.49 trillion represented a decrease of 2.6% from the previous month.
IVZ delivered net long-term inflows of $1.6 billion in the reported month. Non-management fee-earning net inflows were $2.7 billion and money market net inflows were $2.4 billion. Unfavorable market returns affected the company’s AUM by $43 billion and foreign exchange affected the same by $3.7 billion.
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Franklin's (BEN) September AUM Declines 3.3% on Weaker Markets
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1.37 trillion for September 2023. This reflects a 3.3% decrease from the $1.42 trillion recorded as of Aug 31, 2023.
The decline in the AUM balance was primarily due to the impacts of negative markets and slight long-term net outflows.
Total month-end fixed-income assets were $483.1 billion, down 3.4% from the prior month’s level. Equity assets of $430.4 billion decreased 4.8% from August 2023. BEN recorded $145 billion in multi-asset class, down 3% sequentially. Alternative assets aggregated $254.9 billion, down marginally from the prior month.
Also, cash-management funds totaled $60.8 billion, which decreased 3.6% from the prior month’s level.
Despite being a diversified company, Franklin’s AUM is exposed to market fluctuations, foreign exchange translations, regulatory changes and a sudden slowdown in overall business activities, which are likely to act as near-term headwinds. Hence, any decline in investment management fees due to market fluctuations remains a key concern for BEN.
Nonetheless, Franklin seems well-poised for growth on the back of a robust foothold in the global market and revenue-diversification efforts. Also, it is growing through strategic acquisitions. These are supporting the company in improving and expanding its alternative investments and multi-asset solution platforms.
Over the past six months, shares of BEN have declined 8.8% against the industry's growth of 6.2%.
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Currently, Franklin 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, Inc. (CNS - Free Report) reported a preliminary AUM of $75.2 billion as of Sep 30, 2023, which reflects a decrease of 6.1% from the prior-month level. The market depreciation of $4.3 billion, net outflows of $290 million and distributions of $283 million led to the decline.
CNS recorded total institutional accounts of $31.2 billion at the end of September 2023, declining 6.8% from the August-end level. Of the total institutional accounts, advisory accounts were $17.9 billion, while the rest were sub-advisory.
Invesco (IVZ - Free Report) announced the preliminary AUM for September 2023. The company’s month-end AUM of $1.49 trillion represented a decrease of 2.6% from the previous month.
IVZ delivered net long-term inflows of $1.6 billion in the reported month. Non-management fee-earning net inflows were $2.7 billion and money market net inflows were $2.4 billion. Unfavorable market returns affected the company’s AUM by $43 billion and foreign exchange affected the same by $3.7 billion.