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Franklin December AUM Up on Higher Equity & Hybrid Assets
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $720.0 billion for Dec 2016. The results exhibited around 1% rise from $714.4 billion as of Nov 30, 2016. However, the figure declined 5.7% from $763.9 billion as of Dec 31, 2015.
Month-end total equity assets came in at $298.3 billion, up around 1% from the prior month, but down 4.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 33% came from the U.S.
Total fixed income assets were $277.2 billion, down slightly from the previous month and 10.3% from the $309.2 billion recorded in Dec 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% was taxable.
Franklin recorded $138.3 billion in hybrid assets, which improved 1.8% from $135.9 billion recorded in the prior month and 2.9% from $134.4 billion in Dec 2015.
Cash management funds were reported at $6.2 billion, in line with the prior month, but down from $6.6 billion recorded in Dec 2015.
Though the company’s global presence helps it diversify AUM; regulatory restrictions and sluggish economic recovery might impair growth and raise costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which are concerns to its operations and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock has gained 18.8% over the past one year, outperforming the 16.9% growth for the Zacks categorized Investment Management industry.
A better-ranked finance company is Ares Management, L.P. (ARES - Free Report) , sporting a Zacks Rank #1 (Strong Buy). The company’s shares gained over 56% over the past one year. The Zacks Consensus Estimate for the stock climbed 5.6% to $1.32, over the last 30 days, for 2016.
Among other asset managers, Legg Mason Inc. and Invesco Ltd. (IVZ - Free Report) are expected to release preliminary AUM results for Dec 2016, later this week.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Franklin December AUM Up on Higher Equity & Hybrid Assets
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $720.0 billion for Dec 2016. The results exhibited around 1% rise from $714.4 billion as of Nov 30, 2016. However, the figure declined 5.7% from $763.9 billion as of Dec 31, 2015.
Month-end total equity assets came in at $298.3 billion, up around 1% from the prior month, but down 4.9% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 33% came from the U.S.
Total fixed income assets were $277.2 billion, down slightly from the previous month and 10.3% from the $309.2 billion recorded in Dec 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% was taxable.
Franklin recorded $138.3 billion in hybrid assets, which improved 1.8% from $135.9 billion recorded in the prior month and 2.9% from $134.4 billion in Dec 2015.
Cash management funds were reported at $6.2 billion, in line with the prior month, but down from $6.6 billion recorded in Dec 2015.
Though the company’s global presence helps it diversify AUM; regulatory restrictions and sluggish economic recovery might impair growth and raise costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators, which are concerns to its operations and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). The company’s stock has gained 18.8% over the past one year, outperforming the 16.9% growth for the Zacks categorized Investment Management industry.
A better-ranked finance company is Ares Management, L.P. (ARES - Free Report) , sporting a Zacks Rank #1 (Strong Buy). The company’s shares gained over 56% over the past one year. The Zacks Consensus Estimate for the stock climbed 5.6% to $1.32, over the last 30 days, for 2016.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Among other asset managers, Legg Mason Inc. and Invesco Ltd. (IVZ - Free Report) are expected to release preliminary AUM results for Dec 2016, later this week.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>