Franklin Resources Inc.
) declared preliminary assets under management (:AUM) of $920.5
billion by its subsidiaries as of Jun 2014, up 1.3% from $908.3
billion as of May 31, 2014. Moreover, it surged 12.9% from $815.0
billion as of Jun 30, 2013.
Notably, total AUM increased from $857.2 billion as of Jan 31, 2014
to $920.5 billion as of Jun 30, 2014, increasing sequentially 2.9%,
0.5%, 1.0%, 1.4% and 1.3%, respectively, in each of the months from
Feb 2014 to Jun 2014.
For Jun 2014, month-end total equity assets came in at $382.2
billion for Franklin, up 1.6% from the prior month and 23.9% on a
year-over-year basis. Of the total equity assets, around 71% were
from international sources, while the remaining 29% were from the
Total fixed income assets were $363.3 billion, up nearly 1% from
the prior month while it fell nearly 1% from the prior-year period.
Overall, tax-free assets accounted for only 20% of the fixed income
assets, while the remaining 80% were taxable.
Franklin recorded $162.7 billion in hybrid assets, reflecting an
increase of 2.4% from the prior month and 25.6% from the prior-year
Cash management funds were reported at $6.4 billion, down 5.9% from
the prior month while it came in line with in the prior-year month.
We expect the uptrend in AUM to continue going forward as markets
are improving, though at a sluggish pace. Further, Franklin's
global footprint is a favorable strategic point as its AUM
portfolio is well diversified.
Among other asset managers,
Legg Mason Inc.
) are expected to report their monthly AUM data soon.
Franklin currently carries a Zacks Rank #2 (Buy).
Noah Holdings Ltd.
) is a better-ranked company in this space with a Zacks Rank #1
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