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Franklin's (BEN) September AUM Up on Higher Equity Assets
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Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $753.2 billion for September 2017. Results displayed around 1% rise from $747.4 billion recorded as of Aug 31, 2017. Further, the figure moved up 2.7% from the prior-year quarter.
Month-end total equity assets came in at $317 billion, up 1% from the prior month and 4.4% year over year. Of the total equity assets, around 66% were from international sources, while the remaining 34% came in from the United States.
Total fixed income assets were $286.6 billion, marginally up from the previous month, as well as the prior year. Overall, tax-free assets accounted for only 25% of the fixed income assets, while the remaining 75% was taxable.
Franklin recorded $143.3 billion in hybrid assets, which was up 1.3% from $141.5 billion recorded in the previous month and 4.3% from $137.4 billion recorded in September 2016.
Cash management funds were reported at $6.3 billion, up from $6.1 billion in the prior month, as well as the year-ago period.
The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. However, regulatory restrictions and sluggish economic recovery could mar AUM growth and escalate costs.
Franklin currently carries a Zacks Rank #2 (Buy). Shares of the company have gained around 13% so far, this year, underperforming 24.7% growth recorded by the industry it belongs to.
Among others, Ameriprise Financial, Inc. (AMP - Free Report) , carrying a Zacks Rank #2, is worth considering. The company’s shares have gained more than 16% in six months’ time. The Zacks Consensus Estimate for the stock moved up around 4%, over the last 90 days, for 2017.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for September 2017, later this week.
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Franklin's (BEN) September AUM Up on Higher Equity Assets
Franklin Resources Inc. (BEN - Free Report) announced preliminary assets under management (AUM) by its subsidiaries of $753.2 billion for September 2017. Results displayed around 1% rise from $747.4 billion recorded as of Aug 31, 2017. Further, the figure moved up 2.7% from the prior-year quarter.
Month-end total equity assets came in at $317 billion, up 1% from the prior month and 4.4% year over year. Of the total equity assets, around 66% were from international sources, while the remaining 34% came in from the United States.
Total fixed income assets were $286.6 billion, marginally up from the previous month, as well as the prior year. Overall, tax-free assets accounted for only 25% of the fixed income assets, while the remaining 75% was taxable.
Franklin recorded $143.3 billion in hybrid assets, which was up 1.3% from $141.5 billion recorded in the previous month and 4.3% from $137.4 billion recorded in September 2016.
Cash management funds were reported at $6.3 billion, up from $6.1 billion in the prior month, as well as the year-ago period.
The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. However, regulatory restrictions and sluggish economic recovery could mar AUM growth and escalate costs.
Franklin currently carries a Zacks Rank #2 (Buy). Shares of the company have gained around 13% so far, this year, underperforming 24.7% growth recorded by the industry it belongs to.
Among others, Ameriprise Financial, Inc. (AMP - Free Report) , carrying a Zacks Rank #2, is worth considering. The company’s shares have gained more than 16% in six months’ time. The Zacks Consensus Estimate for the stock moved up around 4%, over the last 90 days, for 2017.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other asset managers, Invesco Ltd. (IVZ - Free Report) and Legg Mason Inc. are expected to release preliminary AUM results for September 2017, later this week.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>