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's August AUM Balance Improves on Favorable Markets
Read MoreHide Full Article
Franklin Resources, Inc. (BEN - Free Report) reported its preliminary assets under management (AUM) of $1.68 trillion as of Aug. 31, 2024. This reflected an increase of 1.1% from the prior month’s level.
The improvement in AUM balance was due to the impact of positive markets, partially offset by long-term net outflows. Outflows included $7.7 billion of long-term net outflows at Western Asset Management. As previously revealed, the Macro Opportunities strategy, included in Alternative AUM, is closing and had $1.1 billion of AUM as of Aug. 31, 2024, and $0.9 billion of net outflows in the month.
Break Down of BEN’s AUM Based on Asset Class
BEN recorded equity assets of $603.7 billion, which rose 2.5% from the previous month. Further, fixed income AUM of $574.5 billion at the end of August 2024 increased marginally from the prior month. Likewise, Multi-asset AUM was $172.9 billion, growing modestly from July 2024.
On the other hand, Alternative AUM decreased 1.5% to $251.2 billion from the prior month’s level. Alternative AUM in the reported month includes a $2 billion reduction related to the reclassification of assets under administration.
The cash management balance was $64.35 billion, up 4.6% from the previous month.
Our Viewpoint on BEN
Franklin’s efforts to diversify business through buyouts, solid AUM balance and a strong distribution platform will aid its top line. However, elevated expenses and volatility in investment management fees, which bring in the majority of its revenues, are near-term concerns.
Over the past three months, shares of BEN have plunged 11.5% against the industry’s 3.8% rise.
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $88.1 billion as of Aug. 31, 2024. This reflected a rise of 4.1% from the prior month's level.
The increase in CNS’ AUM balance was driven by the market appreciation of $3.7 billion and net inflows of $8 billion, partially offset by distributions of $152 million.
Invesco (IVZ - Free Report) reported a preliminary month-end AUM of $1.75 trillion in August 2024. This represented a 1.1% increase from the previous month.
IVZ reported net long-term inflows of $2.4 billion in August. Non-management fee-earning net inflows were $0.9 billion, while money market net outflows totaled $6.4 billion. Further, Invesco’s AUM was favorably impacted by solid market returns, which boosted its AUM by $16 billion. Further, FX increased the AUM balance by $7.3 billion.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Franklin's August AUM Balance Improves on Favorable Markets
Franklin Resources, Inc. (BEN - Free Report) reported its preliminary assets under management (AUM) of $1.68 trillion as of Aug. 31, 2024. This reflected an increase of 1.1% from the prior month’s level.
The improvement in AUM balance was due to the impact of positive markets, partially offset by long-term net outflows. Outflows included $7.7 billion of long-term net outflows at Western Asset Management. As previously revealed, the Macro Opportunities strategy, included in Alternative AUM, is closing and had $1.1 billion of AUM as of Aug. 31, 2024, and $0.9 billion of net outflows in the month.
Break Down of BEN’s AUM Based on Asset Class
BEN recorded equity assets of $603.7 billion, which rose 2.5% from the previous month. Further, fixed income AUM of $574.5 billion at the end of August 2024 increased marginally from the prior month. Likewise, Multi-asset AUM was $172.9 billion, growing modestly from July 2024.
On the other hand, Alternative AUM decreased 1.5% to $251.2 billion from the prior month’s level. Alternative AUM in the reported month includes a $2 billion reduction related to the reclassification of assets under administration.
The cash management balance was $64.35 billion, up 4.6% from the previous month.
Our Viewpoint on BEN
Franklin’s efforts to diversify business through buyouts, solid AUM balance and a strong distribution platform will aid its top line. However, elevated expenses and volatility in investment management fees, which bring in the majority of its revenues, are near-term concerns.
Over the past three months, shares of BEN have plunged 11.5% against the industry’s 3.8% rise.
Image Source: Zacks Investment Research
Currently, BEN 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 Managers
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $88.1 billion as of Aug. 31, 2024. This reflected a rise of 4.1% from the prior month's level.
The increase in CNS’ AUM balance was driven by the market appreciation of $3.7 billion and net inflows of $8 billion, partially offset by distributions of $152 million.
Invesco (IVZ - Free Report) reported a preliminary month-end AUM of $1.75 trillion in August 2024. This represented a 1.1% increase from the previous month.
IVZ reported net long-term inflows of $2.4 billion in August. Non-management fee-earning net inflows were $0.9 billion, while money market net outflows totaled $6.4 billion. Further, Invesco’s AUM was favorably impacted by solid market returns, which boosted its AUM by $16 billion. Further, FX increased the AUM balance by $7.3 billion.