We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Franklin Resources' (BEN) November AUM Down on Net Outflows
Read MoreHide Full Article
Franklin Resources (BEN - Free Report) has announced preliminary assets under management (AUM) by its subsidiaries of $691.3 billion for November 2019. Results display marginal decrease from the $693.1 billion recorded as of Oct 31, 2019. Net outflows were partly offset by net market gains. Further, the reported figure inched up 1.2% year on year.
Month-end total equity assets came in at $274.5 billion, up around 1% from the previous month but down 4.1% year over year. Of the total equity assets, around 58% were from international sources, while the remaining 42% came in from the United States.
Total fixed income assets were $272 billion, down around 1.5% from October 2019 but up 6.4% from the prior year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.
Franklin recorded $134.6 billion in hybrid assets, slightly down from the $134.9 billion witnessed in the previous month but up 1.8% from the $132.2 billion reported in November 2018.
Cash-management funds came in at $10.2 billion, up from the prior-month figure of $10 billion and $9.3 billion recorded in the previous year.
Though regulatory restrictions and sluggish economic recovery might mar AUM growth, and escalate costs, the company’s global footprint is a favorable strategic point as its AUM is well diversified.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) , T. Rowe Price Group, Inc. (TROW - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for November, later this week.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
Image: Bigstock
Franklin Resources' (BEN) November AUM Down on Net Outflows
Franklin Resources (BEN - Free Report) has announced preliminary assets under management (AUM) by its subsidiaries of $691.3 billion for November 2019. Results display marginal decrease from the $693.1 billion recorded as of Oct 31, 2019. Net outflows were partly offset by net market gains. Further, the reported figure inched up 1.2% year on year.
Month-end total equity assets came in at $274.5 billion, up around 1% from the previous month but down 4.1% year over year. Of the total equity assets, around 58% were from international sources, while the remaining 42% came in from the United States.
Total fixed income assets were $272 billion, down around 1.5% from October 2019 but up 6.4% from the prior year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.
Franklin recorded $134.6 billion in hybrid assets, slightly down from the $134.9 billion witnessed in the previous month but up 1.8% from the $132.2 billion reported in November 2018.
Cash-management funds came in at $10.2 billion, up from the prior-month figure of $10 billion and $9.3 billion recorded in the previous year.
Though regulatory restrictions and sluggish economic recovery might mar AUM growth, and escalate costs, the company’s global footprint is a favorable strategic point as its AUM is well diversified.
Currently, Franklin carries a Zacks Rank #3 (Hold). Shares of the company have lost around 8.9% year to date as against 9.8% growth recorded 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. are expected to release preliminary AUM results for November, later this week.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%.
This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.
See their latest picks free >>