Back to top

Franklin's (BEN) July AUM Ascends on Strong Market Gains

Read MoreHide Full Article

Franklin Resources (BEN - Free Report) has announced preliminary assets under management (AUM) by its subsidiaries of $733.7 billion for July 2018. Results display 1.3% rise from $724.1 billion recorded as of Jun 30, 2018. Strong market gains were recorded partly offset by net outflows. Further, the figure dipped 2.5% from the previous year.

Month-end total equity assets came in at $316.5 billion, up around 1.9% from the previous month and down marginally year over year. Of the total equity assets, around 64% were from international sources, while the remaining 36% came in from the United States.

Total fixed income assets were $268 billion, marginally up from the previous month and down 5.9% from the previous year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.

Franklin recorded $140.2 billion in hybrid assets, which inched up 1.8% from $137.7 billion witnessed in the previous month and edged down 1.6% from $142.5 billion reported in July 2017.

Cash management funds came in at $9 billion, down from the prior-month figure of $9.1 billion, and up from $6.1 billion recorded in the year-ago period.

The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. Nevertheless, regulatory restrictions and sluggish economic recovery might mar AUM growth and escalate costs.

Currently, Franklin carries a Zacks Rank #5 (Strong Sell). Shares of the company have declined around 12.9% over the last six months compared with the 4% loss incurred by the industry.



You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Invesco Ltd. (IVZ - Free Report) , T. Rowe Price Group, Inc. (TROW - Free Report) and Legg Mason Inc. (LM - Free Report) are expected to release preliminary AUM results for July 2018, early next week.

The Hottest Tech Mega-Trend of All
 
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.

See Zacks' 3 Best Stocks to Play This Trend >>



More from Zacks Analyst Blog

You May Like

Published in