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 Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $739.9 billion for Jul 2016. The results exhibited around 1.1% rise from $732.1 billion as of Jun 30, 2016. Yet, the figure decreased 13.4% from $854.7 billion as of Jul 31, 2015.
Month-end total equity assets came in at $305.3 billion, up 2.9% from the prior month but down 14.7% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 33% was from the U.S.
Total fixed income assets were $290.8 billion, down 1.2% from the prior month and 13.8% from $337.5 billion recorded in Jul 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% was taxable.
Franklin recorded $137.5 billion in hybrid assets, which improved 1.9% from $135.0 billion recorded in the prior month but down 9.7% from $152.3 billion in Jul 2015.
Cash management funds were reported at $6.3 billion, up from $6.1 billion in the prior month but down from $7.1 billion recorded in Jul 2015.
Our Viewpoint
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and raise costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators that are concerns to its operations and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). A better-ranked finance company is Eaton Vance Corp. (EV - Free Report) with a Zacks Rank #2 (Buy).
Among other asset managers, Legg Mason Inc. and Invesco Ltd. (IVZ - Free Report) are expected to release preliminary AUM results for Jul 2016 later this week.
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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Franklin (BEN) July AUM Up on Higher Equity & Hybrid Assets
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $739.9 billion for Jul 2016. The results exhibited around 1.1% rise from $732.1 billion as of Jun 30, 2016. Yet, the figure decreased 13.4% from $854.7 billion as of Jul 31, 2015.
Month-end total equity assets came in at $305.3 billion, up 2.9% from the prior month but down 14.7% on a year-over-year basis. Of the total equity assets, around 66% were from international sources, while the remaining 33% was from the U.S.
Total fixed income assets were $290.8 billion, down 1.2% from the prior month and 13.8% from $337.5 billion recorded in Jul 2015. Overall, tax-free assets accounted for only 26% of the fixed income assets, while the remaining 74% was taxable.
Franklin recorded $137.5 billion in hybrid assets, which improved 1.9% from $135.0 billion recorded in the prior month but down 9.7% from $152.3 billion in Jul 2015.
Cash management funds were reported at $6.3 billion, up from $6.1 billion in the prior month but down from $7.1 billion recorded in Jul 2015.
Our Viewpoint
Though the company’s global presence helps it diversify AUM, regulatory restrictions and sluggish economic recovery might impair growth and raise costs. Moreover, Franklin is subject to numerous regulations by the U.S. and non-U.S. regulators that are concerns to its operations and may even hurt profitability.
Franklin currently carries a Zacks Rank #3 (Hold). A better-ranked finance company is Eaton Vance Corp. (EV - Free Report) with a Zacks Rank #2 (Buy).
Among other asset managers, Legg Mason Inc. and Invesco Ltd. (IVZ - Free Report) are expected to release preliminary AUM results for Jul 2016 later this week.
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 >>