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 (BEN) July AUM Up on Higher Equity & Hybrid Assets
Read MoreHide Full Article
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.43 trillion for July 2020. Results displayed a 2.9% increase from the $1.39 trillion recorded as of Jun 30, 2020. Increased AUM includes about $797 billion from the acquisition of Legg Mason, closed on Jul 31, 2020.
Month-end total equity assets came in at $427.9 billion, up 3.9% from the previous month. Total fixed income assets were $661.4 billion, up 2.4% from June 2020.
Franklin recorded $134.2 billion in hybrid assets, up 2.2% from the $131.3 billion witnessed last month. Cash management funds came in at $82 billion, up from the prior-month figure of $80.7 billion.
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 #3 (Hold). Shares of the company have gained 25.9% in the past three months compared with 21.8% growth registered by the industry.
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for July, later this week.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
Franklin (BEN) July AUM Up on Higher Equity & Hybrid Assets
Franklin Resources (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $1.43 trillion for July 2020. Results displayed a 2.9% increase from the $1.39 trillion recorded as of Jun 30, 2020. Increased AUM includes about $797 billion from the acquisition of Legg Mason, closed on Jul 31, 2020.
Month-end total equity assets came in at $427.9 billion, up 3.9% from the previous month. Total fixed income assets were $661.4 billion, up 2.4% from June 2020.
Franklin recorded $134.2 billion in hybrid assets, up 2.2% from the $131.3 billion witnessed last month. Cash management funds came in at $82 billion, up from the prior-month figure of $80.7 billion.
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 #3 (Hold). Shares of the company have gained 25.9% in the past three months compared with 21.8% growth registered by the industry.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) and Lazard (LAZ - Free Report) are expected to release preliminary AUM results for July, later this week.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>