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's (BEN) April AUM Grows on Positive Market Returns
Read MoreHide Full Article
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $599.4 billion for April 2020. Results displayed a 3.3% increase from the $580.3 billion recorded as of Mar 31, 2020. Lower net outflows and a strong market performance led to the upsurge. However, the reported figure dropped 16.8% year on year.
Month-end total equity assets came in at $227.6 billion, up 9.7% from the previous month but down 21.1% year over year. Of the total equity assets, around 54% were from international sources, while the remaining 46% came in from the United States.
Total fixed income assets were $239 billion, up 2% from March 2020 but down 16.7% from the prior-year period. Overall, tax-free assets accounted for only 27% of fixed-income assets, while the remaining 73% was taxable.
Franklin recorded $122.6 billion in hybrid assets, up 3.7% from the $118.2 billion witnessed in the previous month but down 9.7% from the $135.8 billion reported in April 2019.
Cash management funds came in at $10.2 billion, down from the prior-month figure of $10.7 billion but up from the $9.2 billion recorded in the previous year.
Though regulatory restrictions and a sluggish economic recovery might mar AUM growth and escalate costs, the company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified.
Currently, Franklin carries a Zacks Rank #4 (Sell). Shares of the company have lost 19.2% in the past three months compared with the 20.9% decline registered by the industry.
Invesco’s (IVZ - Free Report) preliminary April-end AUM of $1,118.6 billion represents a rise of 6.2% from the previous month. This increase resulted from favorable market returns and net inflows. Also, a favorable foreign-exchange movement resulted in a rise in the monthly AUM by $63 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for April, later this week.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
Image: Bigstock
Franklin's (BEN) April AUM Grows on Positive Market Returns
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $599.4 billion for April 2020. Results displayed a 3.3% increase from the $580.3 billion recorded as of Mar 31, 2020. Lower net outflows and a strong market performance led to the upsurge. However, the reported figure dropped 16.8% year on year.
Month-end total equity assets came in at $227.6 billion, up 9.7% from the previous month but down 21.1% year over year. Of the total equity assets, around 54% were from international sources, while the remaining 46% came in from the United States.
Total fixed income assets were $239 billion, up 2% from March 2020 but down 16.7% from the prior-year period. Overall, tax-free assets accounted for only 27% of fixed-income assets, while the remaining 73% was taxable.
Franklin recorded $122.6 billion in hybrid assets, up 3.7% from the $118.2 billion witnessed in the previous month but down 9.7% from the $135.8 billion reported in April 2019.
Cash management funds came in at $10.2 billion, down from the prior-month figure of $10.7 billion but up from the $9.2 billion recorded in the previous year.
Though regulatory restrictions and a sluggish economic recovery might mar AUM growth and escalate costs, the company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified.
Currently, Franklin carries a Zacks Rank #4 (Sell). Shares of the company have lost 19.2% in the past three months compared with the 20.9% decline registered by the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Invesco’s (IVZ - Free Report) preliminary April-end AUM of $1,118.6 billion represents a rise of 6.2% from the previous month. This increase resulted from favorable market returns and net inflows. Also, a favorable foreign-exchange movement resulted in a rise in the monthly AUM by $63 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for April, later this week.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.1% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>