Quantcast

Franklin's (BEN) May AUM Ascends, Net Outflows Recorded


Shutterstock photo

Franklin Resources BEN has announced preliminary assets under management (AUM) by its subsidiaries of $732.8 billion for May 2018. Results display a marginal rise from $732.5 billion recorded as of Apr 30, 2018. Acquisition of Edinburgh Partners Limited was primarily responsible for this increase. However, net market declines and net outflows during the month mostly offset the upside. Further, the figure edged down 1.6% from the prior year.

Month-end total equity assets came in at $314.3 billion, up around 2% from the previous month, and marginally year over year. Of the total equity assets, around 65% were from international sources, while the remaining 35% came in from the United States.

Total fixed income assets were $271.3 billion, down 2.2% from the previous month and 3.9% 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 $138.4 billion in hybrid assets, which was slightly up from $138 billion witnessed in the previous month, but down 2.7% from the $142.3 billion reported in May 2017.

Cash management funds came in at $8.8 billion, down from the prior-month figure of $9.1 billion, but up from $6.3 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.

Franklin carries a Zacks Rank #3 (Hold). Shares of the company have declined around 21.5% over the last six months compared with the 1.1% 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 reported preliminary month-end AUM of $977.3 billion for May 2018. The figure reflects slight increase from the prior month. Further, T. Rowe Price Group, Inc. TROW and Legg Mason Inc. LM are expected to release preliminary AUM results for May 2018, later this week.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

T. Rowe Price Group, Inc. (TROW): Free Stock Analysis Report

Invesco Ltd. (IVZ): Free Stock Analysis Report

Legg Mason, Inc. (LM): Free Stock Analysis Report

Franklin Resources, Inc. (BEN): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Business , Stocks
Referenced Symbols: TROW , IVZ , LM , BEN


More from Zacks.com

Subscribe






Zacks.com
Contributor:

Zacks.com

Equity Research








Research Brokers before you trade

Want to trade FX?