Franklin (BEN) April AUM Up on Favorable Market Returns

·2 min read

Franklin Resources BEN has reported preliminary assets under management (AUM) balance of $1529.3 billion for April 2021. This reflects 2% growth from $1498.9 billion recorded as of Mar 31, 2021.

The improvement in AUM balance mainly reflects benefits from market appreciation, partly offset by cash-management net outflows.

Month-end total equity assets of $531.2 billion increased 3.8% from the previous month. Total fixed income assets came in at $651.1 billion, up 1.4% from March 2021. Franklin recorded $152.6 billion in hybrid assets, up 3% from the prior month.

Alternatives assets aggregated $134 billion, up 2.2% from the prior month’s $131.1 billion. Cash-management funds totaled $60.4 billion, down 7.6% sequentially from $65.4 billion.

Franklin is well poised for growth on the company’s robust foothold in the global market and acquisition moves. However, a stringent regulatory environment and sluggish economic recovery are near-term concerns for the bank.

Shares of the company have gained 29.3% in the past six months, underperforming the 33.2% rally of the industry.

Currently, Franklin 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 Management Firms

Cohen & Steers CNS reported preliminary AUM of $92.8 billion as of Apr 30, 2021, which reflects an increase of 6.7% from the prior-month level. Net inflows of $821 million and market appreciation of $5.2 billion were partially offset by distributions of $200 million.

Invesco Ltd. IVZ announced preliminary month-end AUM of $1459 billion, up 3.9% from previous month. Positive market returns aided this growth, boosting the AUM by $39 billion. Also, it achieved net long-term inflows of $7.2 billion this month.

Among others, T. Rowe Price Group, Inc. TROW will report AUM figures soon.

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