Advertisement
Canada markets close in 5 hours 24 minutes
  • S&P/TSX

    22,163.89
    +56.81 (+0.26%)
     
  • S&P 500

    5,252.84
    +4.35 (+0.08%)
     
  • DOW

    39,735.28
    -24.80 (-0.06%)
     
  • CAD/USD

    0.7375
    +0.0002 (+0.03%)
     
  • CRUDE OIL

    82.36
    +1.01 (+1.24%)
     
  • Bitcoin CAD

    96,751.95
    +2,153.59 (+2.28%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,226.90
    +14.20 (+0.64%)
     
  • RUSSELL 2000

    2,120.27
    +5.93 (+0.28%)
     
  • 10-Yr Bond

    4.2040
    +0.0080 (+0.19%)
     
  • NASDAQ

    16,406.55
    +7.03 (+0.04%)
     
  • VOLATILITY

    13.05
    +0.27 (+2.11%)
     
  • FTSE

    7,960.20
    +28.22 (+0.36%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • CAD/EUR

    0.6823
    +0.0018 (+0.26%)
     

Franklin's (BEN) November 2018 AUM Up on Net Market Gains

Franklin Resources BEN has announced preliminary assets under management (AUM) by its subsidiaries of $683.3 billion for November 2018. Results display marginal rise from $682.7 billion recorded as of Oct 31, 2018. Net market gains, partially offset by net outflows led to the increase. However, the figure dipped 9.3% from the previous year.

Month-end total equity assets came in at $286.1 billion, slightly up from the previous month but down 10.3% year over year. Of the total equity assets, around 62% were from international sources, while the remaining 38% came in from the United States.

Total fixed income assets were $255.7 billion, down modestly from the last month and around 10.3% from last year. Overall, tax-free assets accounted for only 24% of the fixed-income assets, while the remaining 76% was taxable.

Franklin recorded $132.2 billion in hybrid assets, which was moderately down from $132.5 billion witnessed in the previous month and decreased 7.4% from $142.8 billion reported in November 2017.

Cash management funds came in at $9.3 billion, up from the prior-month figure of $9.2 billion, as well as the year-ago tally of $6.5 billion.

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.

Currently, Franklin carries a Zacks Rank #3 (Hold). Shares of the company have gained around 2.3% over the last three months, as against the 16.6% 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 November 2018, later this week.

Will You Make a Fortune on the Shift to Electric Cars?
 
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Legg Mason, Inc. (LM) : Free Stock Analysis Report
 
Invesco Ltd. (IVZ) : Free Stock Analysis Report
 
T. Rowe Price Group, Inc. (TROW) : Free Stock Analysis Report
 
Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.