Franklin Resources' (BEN) August AUM Descends On Net Outflows
Zacks Investment Research | Sep 10, 2019 10:04PM ET
Franklin Resources (NYSE:BEN) has announced preliminary assets under management (AUM) by its subsidiaries of $690.6 billion for August 2019. Results display 2.7% decrease from the $709.5 billion recorded as of Jul 31, 2019. Slight net outflows and net market declines led to this downside. Further, the reported figure went down 4.4% year on year.
Month-end total equity assets came in at $266.9 billion, down 3.5% from the previous month and 14.7% year over year. Of the total equity assets, around 58% were from international sources, while the remaining 42% came in from the United States.
Total fixed income assets were $280.8 billion, down 2.5% from July 2019 but up 7.8% from the prior year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.
Franklin recorded $133.2 billion in hybrid assets, which was 1.6% down from the $135.4 billion witnessed in the previous month and 4.7% from the $139.8 billion reported in August 2018.
Cash management funds came in at $9.7 billion, up from the prior-month figure of $9.6 billion and $9.3 billion recorded in the previous year.
Though regulatory restrictions and sluggish economic recovery might mar AUM growth, and escalate costs, the company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified.
Currently, Franklin carries a Zacks Rank #3 (Hold). Shares of the company have lost around 4.1% year to date as against 14.2% growth recorded by the Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.