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Franklin’s (BEN) March AUM Declines, Net Outflows Recorded

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Franklin Resources Inc. BEN has announced preliminary assets under management (AUM) by its subsidiaries of $737.5 billion for March 2018. Results display around 1% drop from $744.9 billion recorded as of Feb 28, 2018. Net market losses and outflows were primarily responsible for this decline. Further, the figure edged down from the prior year.

Month-end total equity assets came in at $309.3 billion, down around 2.5% from the previous month, and marginally 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 $280.2 billion, down moderately from the previous month as well as the prior year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.

Franklin recorded $137.6 billion in hybrid assets, which was down 1.8% from the $140.1 billion witnessed in the previous month and 3% from the $141.9 billion reported in March 2017.

Cash management funds came in at $10.4 billion, up from the prior month figure of $6.8 billion and $6 billion recorded in 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 carries a Zacks Rank #3 (Hold). Shares of the company have declined around 26.4% over the last six months compared with the 3.5% loss incurred 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. IVZ, T. Rowe Price Group, Inc. TROW and Legg Mason Inc. LM are expected to release preliminary AUM results for March 2018, later this week.

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