Franklin (BEN) July AUM Up on Higher Equity & Hybrid Assets

Zacks Equity Research
·2 min read

Franklin Resources BEN announced preliminary assets under management (AUM) by its subsidiaries of $1.43 trillion for July 2020. Results displayed a 2.9% increase from the $1.39 trillion recorded as of Jun 30, 2020. Increased AUM includes about $797 billion from the acquisition of Legg Mason, closed on Jul 31, 2020.

Month-end total equity assets came in at $427.9 billion, up 3.9% from the previous month. Total fixed income assets were $661.4 billion, up 2.4% from June 2020.

Franklin recorded $134.2 billion in hybrid assets, up 2.2% from the $131.3 billion witnessed last month. Cash management funds came in at $82 billion, up from the prior-month figure of $80.7 billion.

Though regulatory restrictions and a 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 gained 25.9% in the past three months compared with 21.8% growth registered by the industry.



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

Competitive Landscape

Cohen & Steers CNS reported a preliminary AUM of $70.1 billion as of Jul 31, 2020, which increased 5.7% from the prior-month level. Market appreciation of $2.7 billion and net inflows of $1.3 billion were partially offset by distributions of $209 million.

Among others, T. Rowe Price Group, Inc. TROW and Lazard LAZ are expected to release preliminary AUM results for July, later this week.

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Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
Lazard Ltd (LAZ) : Free Stock Analysis Report
 
T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report
 
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