Franklin's (BEN) November AUM Up On Higher Equity Assets

By Zacks Investment ResearchStock MarketsDec 11, 2017 08:21PM ET

www.investing.com/analysis/franklins-ben-november-aum-up-on-higher-equity-assets-200272535

Franklin's (BEN) November AUM Up On Higher Equity Assets

By Zacks Investment Research | Dec 11, 2017 08:21PM ET

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Franklin Resources Inc. (NYSE:BEN) announced preliminary assets under management (AUM) by its subsidiaries of $753.2 billion for November 2017. Results displayed improvement from $750.7 billion recorded as of Oct 30, 2017. Also, the figure moved up 5.4% from the prior-year quarter.

Month-end total equity assets came in at $318.8 billion, slightly up from the prior month and 7.8% year over year. Of the total equity assets, around 65% were from international sources, while the remaining 35% came in from the United States.

Total fixed income assets were $285.1 billion, up nearly 1% from the previous month and 3.1% 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 $142.8 billion in hybrid assets, which was down slightly from $143 billion recorded in the previous month but up 5.1% from $135.9 billion in November 2016.

Cash management funds were reported at $6.5 billion, flat sequentially and up 4.8% from the year-ago period.

The company’s global footprint is an exceptionally favorable strategic point as its AUM is well diversified. Nevertheless, regulatory restrictions and sluggish economic recovery might mar AUM growth and escalate costs.

Franklin currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 11.4% so far this year, underperforming 31.1% growth recorded by the industry.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other asset managers, Invesco Ltd. (NYSE:IVZ) , T. Rowe Price Group, Inc. (NASDAQ:TROW) and Legg Mason Inc. (NYSE:LM) are expected to release preliminary AUM results for November 2017 this week.

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T. Rowe Price Group, Inc. (TROW): Free Stock Analysis Report

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Franklin Resources, Inc. (BEN): Free Stock Analysis Report

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Franklin's (BEN) November AUM Up On Higher Equity Assets

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