Franklin Resources, Inc. Announces Month-End Assets Under Management
October 09 2017 - 4:30PM
Franklin Resources, Inc. (Franklin Templeton Investments)
(NYSE:BEN) today reported preliminary month-end assets under
management of $753.2 billion at September 30, 2017, compared to
$747.4 billion at August 31, 2017. The increase in assets under
management was due to net market gains that more than offset modest
net outflows. Preliminary average assets under management for the
quarter ended September 30, 2017 were $749.0 billion.
ASSETS UNDER MANAGEMENT |
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Preliminary |
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(In billions) |
30-Sep-17 |
31-Aug-17 |
30-Jun-17 |
31-Mar-17 |
30-Sep-16 |
Franklin Templeton Investments: |
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Equity: |
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Global/international |
$209.8 |
$207.7 |
$206.8 |
$204.9 |
$200.4 |
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United States |
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107.2 |
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106.1 |
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105.7 |
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105.3 |
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103.3 |
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Total equity |
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317.0 |
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313.8 |
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312.5 |
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310.2 |
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303.7 |
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Multi-Asset/Balanced |
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143.3 |
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141.5 |
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141.2 |
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141.9 |
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137.4 |
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Fixed
Income: |
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Tax-free |
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71.0 |
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71.7 |
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71.2 |
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71.5 |
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76.5 |
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Taxable: |
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Global/international |
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165.0 |
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162.6 |
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159.8 |
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157.6 |
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156.2 |
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United
States |
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50.6 |
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51.7 |
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52.1 |
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52.8 |
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53.4 |
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Total fixed income |
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286.6 |
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286.0 |
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283.1 |
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281.9 |
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286.1 |
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Cash
Management |
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6.3 |
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6.1 |
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6.0 |
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6.0 |
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6.1 |
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Total |
$753.2 |
$747.4 |
$742.8 |
$740.0 |
$733.3 |
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Franklin Resources, Inc. (NYSE:BEN) is a global
investment management organization operating as Franklin Templeton
Investments. Franklin Templeton Investments provides global and
domestic investment management to retail, institutional and
sovereign wealth clients in over 170 countries. Through specialized
teams, the Company has expertise across all asset classes—including
equity, fixed income, alternative and custom solutions. The
Company’s more than 650 investment professionals are supported by
its integrated, worldwide team of risk management professionals and
global trading desk network. With offices in over 30
countries, the California–based company has 70 years of investment
experience. The Company posts information that may be significant
for investors in the Investor Relations and News Center sections of
its website, and encourages investors to consult those sections
regularly. For more information, please visit
investors.franklinresources.com.
Forward-Looking Statements
The financial results in this press release are
preliminary. Statements in this press release regarding Franklin
Resources, Inc. (“Franklin”) and its subsidiaries, which are not
historical facts, are “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. When used in this press release, words or phrases generally
written in the future tense and/or preceded by words such as
“will,” “may,” “could,” “expect,” “believe,” “anticipate,”
“intend,” “plan,” “seek,” “estimate,” “preliminary” or other
similar words are forward-looking statements.
Forward-looking statements involve a number of
known and unknown risks, uncertainties and other important factors,
some of which are listed below, that could cause actual results and
outcomes to differ materially from any future results or outcomes
expressed or implied by such forward-looking statements. While
forward-looking statements are our best prediction at the time that
they are made, you should not rely on them and are cautioned
against doing so. Forward-looking statements are based on our
current expectations and assumptions regarding our business, the
economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are
difficult to predict. They are neither statements of historical
fact nor guarantees or assurances of future performance.
These and other risks, uncertainties and other
important factors are described in more detail in Franklin’s recent
filings with the U.S. Securities and Exchange Commission,
including, without limitation, in Risk Factors and Management’s
Discussion and Analysis of Financial Condition and Results of
Operations in Franklin’s Annual Report on Form 10-K for the fiscal
year ended September 30, 2016 and Franklin’s subsequent Quarterly
Reports on Form 10-Q:
- Volatility and disruption of the capital and credit markets,
and adverse changes in the global economy, may significantly affect
our results of operations and may put pressure on our financial
results.
- The amount and mix of our assets under management are subject
to significant fluctuations.
- We are subject to extensive, complex, overlapping and
frequently changing rules, regulations, policies and legal
interpretations.
- Global regulatory and legislative actions and reforms have made
the regulatory environment in which we operate more costly and
future actions and reforms could adversely impact our financial
condition and results of operations.
- Failure to comply with the laws, rules or regulations in any of
the jurisdictions in which we operate could result in substantial
harm to our reputation and results of operations.
- Changes in tax laws or exposure to additional income tax
liabilities could have a material impact on our financial
condition, results of operations and liquidity.
- Any significant limitation, failure or security breach of our
information and cyber security infrastructure, software
applications, technology or other systems that are critical to our
operations could disrupt our business and harm our operations and
reputation.
- Our business operations are complex and a failure to properly
perform operational tasks or the misrepresentation of our products
and services, or the termination of investment management
agreements representing a significant portion of our assets under
management, could have an adverse effect on our revenues and
income.
- We face risks, and corresponding potential costs and expenses,
associated with conducting operations and growing our business in
numerous countries.
- We depend on key personnel and our financial performance could
be negatively affected by the loss of their services.
- Strong competition from numerous and sometimes larger companies
with competing offerings and products could limit or reduce sales
of our products, potentially resulting in a decline in our market
share, revenues and income.
- Changes in the third-party distribution and sales channels on
which we depend could reduce our income and hinder our growth.
- Our increasing focus on international markets as a source of
investments and sales of investment products subjects us to
increased exchange rate and market-specific political, economic or
other risks that may adversely impact our revenues and income
generated overseas.
- Harm to our reputation or poor investment performance of our
products could reduce the level of our assets under management or
affect our sales, and negatively impact our revenues and
income.
- Our future results are dependent upon maintaining an
appropriate level of expenses, which is subject to
fluctuation.
- Our ability to successfully manage and grow our business can be
impeded by systems and other technological limitations.
- Our inability to successfully recover should we experience a
disaster or other business continuity problem could cause material
financial loss, loss of human capital, regulatory actions,
reputational harm, or legal liability.
- Regulatory and governmental examinations and/or investigations,
litigation and the legal risks associated with our business, could
adversely impact our assets under management, increase costs and
negatively impact our profitability and/or our future financial
results.
- Our ability to meet cash needs depends upon certain factors,
including the market value of our assets, operating cash flows and
our perceived creditworthiness.
- We are dependent on the earnings of our subsidiaries.
Any forward-looking statement made by us in this
press release speaks only as of the date on which it is made.
Factors or events that could cause our actual results to differ may
emerge from time to time, and it is not possible for us to predict
all of them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
FROM: Franklin Resources, Inc. Media
Relations: Matt Walsh (650) 312-2245Investor Relations:
Brian Sevilla (650) 312-4091 investors.franklinresources.com
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