Franklin Resources, Inc. Announces Month-End Assets Under Management
September 10 2019 - 4:30PM
Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today
reported preliminary month-end assets under management of $690.6
billion at August 31, 2019, compared to $709.5 billion at July 31,
2019. The decrease in assets under management was attributable to
net market declines and moderate net outflows. Preliminary average
assets under management for the quarter, through August 31, 2019,
were $705.1 billion.
ASSETS UNDER
MANAGEMENT |
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|
|
|
|
|
|
|
Preliminary |
|
|
|
|
(In
billions) |
31-Aug-19 |
31-Jul-19 |
30-Jun-19 |
31-Mar-19 |
31-Aug-18 |
Franklin
Templeton: |
|
|
|
|
|
|
Equity: |
|
|
|
|
|
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|
Global/international |
$156.0 |
$163.6 |
$169.8 |
$174.4 |
$197.8 |
|
|
United States |
110.9 |
113.0 |
112.4 |
109.5. |
115.1 |
|
|
Total equity |
266.9 |
276.6 |
282.2 |
283.9 |
312.9 |
|
|
|
|
|
|
|
|
|
Multi-Asset/Balanced |
133.2 |
135.4 |
136.0 |
134.7 |
139.8 |
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|
|
|
|
|
|
|
|
Fixed Income: |
|
|
|
|
|
|
|
Tax-free |
66.8 |
65.5 |
65.0 |
63.4 |
64.9 |
|
|
Taxable: |
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|
|
|
|
|
|
Global/international |
146.5 |
155.2 |
154.9 |
152.5 |
150.5 |
|
|
United States |
67.5 |
67.2 |
67.9 |
68.9 |
45.0 |
|
|
Total fixed income |
280.8 |
287.9 |
287.8 |
284.8 |
260.4 |
|
|
|
|
|
|
|
|
|
Cash Management |
9.7 |
9.6 |
9.2 |
8.9 |
9.3 |
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|
|
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|
|
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Total |
$690.6 |
$709.5 |
$715.2 |
$712.3 |
$722.4 |
Franklin Resources, Inc. [NYSE:BEN] is a global
investment management organization operating as Franklin Templeton.
Franklin Templeton’s goal is to deliver better outcomes by
providing 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,
alternatives and custom multi-asset solutions. The company’s more
than 600 investment professionals are supported by its integrated,
worldwide team of risk management professionals and global trading
desk network. With employees in over 30 countries, the
California-based company has more than 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, 2018 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 contractual obligations may
subject us to indemnification costs and liability to third
parties.
- Our business operations are complex
and a failure to properly perform operational tasks or the
misrepresentation of our services and products, 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 our
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.
Contact: |
Franklin
Resources, Inc. |
|
Investor Relations: Lucy Nicholls (650) 312-4091 |
|
Media Relations: Matt Walsh (650) 312-2245 |
|
investors.franklinresources.com |
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