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Franklin (BEN) October AUM Down on Low Equity & Hybrid Assets

Zacks Equity Research
·2 min read

Franklin Resources BEN announced preliminary assets under management (AUM) by its subsidiaries of $1.39 trillion for October 2020. Results display a 2.1% decrease from the $1.42 trillion recorded as of Sep 30, 2020.

Month-end total equity assets came in at $418.1 billion, down 3.2% from the previous month. Total fixed income assets were $652.8 billion, slightly down from September 2020. Alternatives assets totaled $122.4 billion, down from the prior-year quarter’s $124 billion.

Franklin recorded $131.6 billion in hybrid assets, down 1.6% from the $133.8 billion witnessed last month. Cash management funds came in at $66.7 billion, down from the prior-month figure of $72.4 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.

Shares of the company have gained 6.1% in the past six months compared with 26% growth registered by 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.

Competitive Landscape

Cohen & Steers CNS reported preliminary AUM of $71.3 billion as of Oct 31, 2020, which inched up 1% from the prior-month level. Net inflows of $2 billion were partially offset by market depreciation of $1.1 billion and distributions of $219 million.

Among others, T. Rowe Price Group, Inc. TROW and Lazard LAZ are expected to release preliminary AUM results for October 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
 
Cohen Steers Inc (CNS) : Free Stock Analysis Report
 
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