Franklin Resources Inc.
) declared preliminary assets under management (AUM) of $847.5
billion by its subsidiaries for Apr 2013. The company's AUM rose
2.9% from $823.7 billion as of Mar 31, 2013. Moreover, it
increased 16.7% from $726.4 billion as of Apr 30, 2012.
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Month-end total equity assets came in at $325.9 billion, inching
up 1.9% from the prior month and 10.1% from the year-ago period.
Of the total equity assets, approximately 72.6% were from
international sources while the remaining 27.4% were from the
Franklin's total fixed income assets were $383.7 billion, up 3.9%
from $369.2 billion as of Mar 31, 2013 and 19.8% from $320.3
billion as of Apr 30, 2012. Overall, tax-free assets for Franklin
accounted for only 22.3% of the fixed income assets, while the
remaining 77.7% were taxable.
Franklin recorded $132.1 billion in hybrid assets, which
increased 2.2% from $129.2 billion in the prior month and surged
27.3% from $103.8 billion in the year-ago month.
Cash management funds for Franklin were reported at $5.8 billion,
up 7.4% from the prior month but down 6.5% from the prior-year
Among other asset managers,
Legg Mason Inc.
) are expected to release their preliminary AUM for Apr 2013 by
the middle of this month.
Franklin has a global footprint and well-diversified AUM, which
is strategically excellent for the company. Further, Franklin is
expected to benefit from its strong balance sheet.
However, regulatory restrictions and a sluggish economic growth
can adversely affect AUM improvement and increase costs.
Currently, Franklin carries a Zacks Rank #2 (Buy). Other better
performing asset managers include
Waddell & Reed Financial Inc.
), which carries a Zacks Rank #1 (Strong Buy).