Franklin Resources, Inc. (BEN) reported preliminary assets under management (AUM) of $1.68 trillion as of August 31, 2024, reflecting a 1.1% increase from the previous month. While positive market performance contributed to the growth, long-term net outflows, including $7.7 billion from Western Asset Management, partially offset the gains. The report also highlights the performance of other asset managers, including Cohen & Steers, Inc. (CNS) and Invesco (IVZ).
Franklin Resources, Inc. (BEN) announced preliminary assets under management (AUM) of $1.66 trillion as of July 31, 2024, representing a 1% increase from the previous month. The growth was primarily attributed to positive market performance, partially offset by long-term net outflows. The company’s equity assets surged by 1.5% to $603.7 billion, while fixed income AUM climbed 1.2% to $571.3 billion. Franklin’s efforts to diversify its business through acquisitions, its strong AUM balance, and its robust distribution platform are anticipated to drive future revenue growth.
T. Rowe Price Group, Inc. (TROW) announced preliminary assets under management (AUM) of $1.59 trillion for July 2024, representing a 1.1% sequential increase. The rise was driven by positive market conditions and net inflows of $2 billion. While the company’s diversified business model and expansion efforts are positive, concerns remain regarding its reliance on investment advisory fees and high costs impacting bottom-line growth.
