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Franklin (BEN) February AUM Up on Favorable Market Returns
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Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021.
The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows. These were partly offset by cash-management net outflows.
Month-end total equity assets of $503.1 billion increased 2.6% from the previous month. Total fixed income assets came in at $656.7 billion, down 1.3% from January 2021. Franklin recorded $144.5 billion in hybrid assets, up 3.4% from the prior month.
Alternatives assets aggregated $129.1 billion, up slightly from the prior month’s $128.9 billion. Cash-management funds came in at $67.1 billion, down 4.4% from the prior-month figure of $70.2 billion.
Franklin is well poised for growth on the company’s robust foothold in the global market and acquisition moves. However, a stringent regulatory environment and sluggish economic recovery are near-term concerns for the bank.
Shares of the company have gained 28.8% in the past six months, underperforming the 32.8% rally of the industry.
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) will report AUM figures soon.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Franklin (BEN) February AUM Up on Favorable Market Returns
Franklin Resources (BEN - Free Report) has reported preliminary assets under management (AUM) balance of $1500.5 billion for February 2021. This reflects marginal growth from $1494.4 billion recorded as of Jan 31, 2021.
The improvement in AUM balance mainly reflects benefits from market appreciation and long-term net inflows. These were partly offset by cash-management net outflows.
Month-end total equity assets of $503.1 billion increased 2.6% from the previous month. Total fixed income assets came in at $656.7 billion, down 1.3% from January 2021. Franklin recorded $144.5 billion in hybrid assets, up 3.4% from the prior month.
Alternatives assets aggregated $129.1 billion, up slightly from the prior month’s $128.9 billion. Cash-management funds came in at $67.1 billion, down 4.4% from the prior-month figure of $70.2 billion.
Franklin is well poised for growth on the company’s robust foothold in the global market and acquisition moves. However, a stringent regulatory environment and sluggish economic recovery are near-term concerns for the bank.
Shares of the company have gained 28.8% in the past six months, underperforming the 32.8% rally of the industry.
Currently, Franklin carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Management Firms
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $83.1 billion as of Feb 28, 2021, which reflects an increase of 2.4% from the prior-month level. Net inflows of $229 million and market appreciation of $1.9 billion were partially offset by distributions of $202 million.
Invesco Ltd. (IVZ - Free Report) announced preliminary month-end AUM of $1391.5 billion, up 1.8% from previous month. Positive market returns aided this growth, boosting the AUM by $13 billion.
Among others, T. Rowe Price Group, Inc. (TROW - Free Report) will report AUM figures soon.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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