Franklin Resources, Inc. (BEN Quick QuoteBEN - Free Report) has reported preliminary assets under management (AUM) balance of $1,561.7 billion for October 2021. This indicates a 2.1% increase from $1,530.1 billion recorded as of Sep 30, 2021. The reported month’s AUM reflected changes in the reported asset class of certain products as part of the company’s integration efforts following acquisitions.

The rise in AUM was primarily supported by the positive impacts of markets, partly offset by modest long-term net outflows.

Month-end equity assets of $565 billion grew 7.9% from the previous month. Franklin recorded $153.4 billion in multi-asset class, up slightly from the prior month.

Alternative assets aggregated $148.5 billion, up 2.3% sequentially. Cash-management funds totaled $60 billion, up 2.4%. However, total fixed-income assets were $634.8 billion, down 2.4% from September 2021.

Franklin seems well-poised for growth on the back of a robust foothold in the global market and acquisition moves. On similar lines, earlier this month, it inked a $1.75-billion deal to acquire Lexington Partners in a bid to bulk up its alternative asset business. Also, in September, it announced a deal to buy O’Shaughnessy Asset Management, LLC, to boost its offerings in the SMA space.

Shares of Franklin have jumped 43% so far this year, outperforming the 24.8% rally of the industry.
 

Image Source: Zacks Investment Research

Currently, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Competitive Landscape

AllianceBernstein Holding L.P.’s (AB Quick QuoteAB - Free Report) preliminary month-end AUM of $765 billion grew 3.1% from the prior month. Market appreciation, along with total firm-wide net inflows, mainly drove the rise.

Other asset managers including Lazard Ltd (LAZ Quick QuoteLAZ - Free Report) and T. Rowe Price Group, Inc. (TROW Quick QuoteTROW - Free Report) are likely to come out with October AUM balance soon.