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Franklin's (BEN) October AUM Declines 2.9% on Weaker Markets
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Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1.33 trillion for October2023. This reflected a 2.9% decrease from $1.37 trillion as of Sep 30. The decline in AUM balance was primarily due to the impacts of negative markets and long-term net outflows.
Total month-end fixed-income assets were $468.9 billion, down 2.9% from the prior month’s level. Equity assets of $410.9 billion fell 4.5% from September 2023. BEN recorded $140.8 billion in multi-asset class, down 2.9% sequentially. Alternative assets aggregated $253.8 billion, down marginally from the prior month.
Also, cash-management funds totaled $60.1 billion, which inched down 1.2% 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 6.2% against the industry's growth of 8.9%.
Cohen & Steers, Inc. (CNS - Free Report) reported preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflected a tumble of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion while the rest were sub-advisory.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $148.89 billion for October 2023. This reflected a 3% fall from $153.51 billion as of Sep 30, 2023.
By asset classes, at the end of October, VCTR’s U.S. Mid Cap Equity AUM fell 4.5% from the September level to $26.97 billion. The U.S. Small Cap Equity AUM of $13.64 billion dipped 6.9%. The U.S. Large Cap Equity AUM decreased 2.7% to $11.28 billion. The Global/Non-U.S. Equity AUM was down 2.2% to $14.48 billion.
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Franklin's (BEN) October AUM Declines 2.9% on Weaker Markets
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary asset under management (AUM) balance of $1.33 trillion for October2023. This reflected a 2.9% decrease from $1.37 trillion as of Sep 30. The decline in AUM balance was primarily due to the impacts of negative markets and long-term net outflows.
Total month-end fixed-income assets were $468.9 billion, down 2.9% from the prior month’s level. Equity assets of $410.9 billion fell 4.5% from September 2023. BEN recorded $140.8 billion in multi-asset class, down 2.9% sequentially. Alternative assets aggregated $253.8 billion, down marginally from the prior month.
Also, cash-management funds totaled $60.1 billion, which inched down 1.2% 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 6.2% against the industry's growth of 8.9%.
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Currently, BEN carries a Zacks Rank #4 (Sell)
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 preliminary AUM of $72.2 billion as of Oct 31, 2023, which reflected a tumble of 4% from the prior-month level. Market depreciation of $2.1 billion, net outflows of $732 million and distributions of $154 million led to the decline.
CNS recorded total institutional accounts of $29.8 billion at the end of October 2023, declining 4.6% from the September-end level. Of the total institutional accounts, advisory accounts were $17.3 billion while the rest were sub-advisory.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $148.89 billion for October 2023. This reflected a 3% fall from $153.51 billion as of Sep 30, 2023.
By asset classes, at the end of October, VCTR’s U.S. Mid Cap Equity AUM fell 4.5% from the September level to $26.97 billion. The U.S. Small Cap Equity AUM of $13.64 billion dipped 6.9%. The U.S. Large Cap Equity AUM decreased 2.7% to $11.28 billion. The Global/Non-U.S. Equity AUM was down 2.2% to $14.48 billion.