Franklin Resources, Inc. Announces Month-End Assets Under Management

Rhea-AI Summary

Franklin Resources (NYSE: BEN) reported preliminary assets under management (AUM) of $1.65 trillion at November 30, 2024, up from $1.63 trillion at October 31, 2024. The increase was driven by positive market performance but was partially offset by preliminary long-term net outflows of $13 billion, including $12 billion from Western Asset Management.

The AUM breakdown shows: Equity at $643.8B, Fixed Income at $515.6B, Alternative at $247.4B, Multi-Asset at $179.0B, and Cash Management at $65.1B. Western Asset Management's AUM decreased to $317 billion from $328 billion, affected by $12 billion in long-term net outflows and $2 billion in cash management net outflows.

Positive

• Total AUM increased to $1.65 trillion from $1.63 trillion month-over-month
• Positive market performance contributed to AUM growth
• Equity AUM increased to $643.8B from $618.2B

Negative

• Long-term net outflows of $13 billion
• Western Asset Management experienced $12 billion in long-term net outflows
• Fixed Income AUM declined to $515.6B from $524.6B
• Western Asset Management's total AUM decreased by $11 billion to $317B

Insights

Financial Analyst

The latest AUM report reveals mixed signals for Franklin Resources. While total AUM increased to $1.65 trillion from $1.63 trillion, driven by positive market performance, the $13 billion in long-term net outflows is concerning, with Western Asset Management accounting for $12 billion of these outflows.

The equity segment showed strong growth, reaching $643.8 billion, up from $618.2 billion in October. However, fixed income assets declined to $515.6 billion from $524.6 billion, reflecting both market dynamics and outflows. Year-over-year comparison shows substantial growth from $1.41 trillion to $1.65 trillion, but persistent outflows could pressure future earnings and stock performance.

Market Research Analyst

The significant outflows from Western Asset Management, representing nearly 4% of their AUM in a single month, signals potential client dissatisfaction or reallocation strategies that warrant attention. The fixed income segment's continued decline amid rising rates environment suggests broader industry challenges rather than company-specific issues.

The bright spot remains the equity division's performance, benefiting from the broader market rally. The 43.7% year-over-year increase in equity AUM from $447.9 billion to $643.8 billion demonstrates strong market appreciation and potentially improved product positioning in this segment.

SAN MATEO, Calif.--(BUSINESS WIRE)-- Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management (AUM) of $1.65 trillion at November 30, 2024, compared to $1.63 trillion at October 31, 2024. This month's increase in AUM reflected the impact of positive markets, partially offset by preliminary long-term net outflows of $13 billion, inclusive of $12 billion of preliminary long-term net outflows at Western Asset Management.¹

By Asset Class:
(In USD billions)	Preliminary
	30-Nov-24	31-Oct-24	30-Sep-24	30-Jun-24	30-Nov-23
Equity	$643.8	$618.2	$632.1	$595.0	$447.9
Fixed Income	515.6	524.6	556.4	564.5	494.9
Alternative	247.4	247.9	249.9	254.5	257.5
Multi-Asset	179.0	174.4	176.2	168.1	148.9
Long Term:	1,585.8	1,565.1	1,614.6	1,582.1	1,349.2
Cash Management	65.1	65.6	64.0	64.5	63.2
Total Ending AUM	$1,650.9	$1,630.7	$1,678.6	$1,646.6	$1,412.4

1 As of November 30, 2024, Western Asset Management had preliminary AUM of $317 billion, compared to $328 billion at October 31, 2024. This month’s AUM reflected the impact of positive markets, the aforementioned preliminary long-term net outflows of $12 billion, and preliminary cash management net outflows of $2 billion.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in equity, fixed income, alternatives, and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 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. Some of the statements herein may include forward-looking statements that reflect our current views with respect to future events, financial performance and market conditions. Such statements are provided under the “safe harbor” protection of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and generally can be identified by words or phrases written in the future tense and/or preceded by words such as “anticipate,” “believe,” “could,” “depends,” “estimate,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “preliminary,” “seek,” “should,” “will,” “would,” or other - similar words or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements.

Forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that may cause actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements, including market and volatility risks, investment performance and reputational risks, global operational risks, competition and distribution risks, third-party risks, technology and security risks, human capital risks, cash management risks, and legal and regulatory risks. 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 possible 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. 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.

These and other risks, uncertainties and other important factors are described in more detail in our 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 our Annual Report on Form 10-K for the fiscal year ended September 30, 2024 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward-looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241203451151/en/

Franklin Resources, Inc.

Investor Relations: Selene Oh (650) 312-4091, selene.oh@franklintempleton.com

Media Relations: Jeaneen Terrio (212) 632-4005, jeaneen.terrio@franklintempleton.com

investors.franklinresources.com

Source: Franklin Resources, Inc.

FAQ

What was Franklin Resources (BEN) total AUM as of November 30, 2024?

Franklin Resources reported total assets under management of $1.65 trillion as of November 30, 2024.

How much were the net outflows for Franklin Resources (BEN) in November 2024?

Franklin Resources experienced preliminary long-term net outflows of $13 billion in November 2024.

What was Western Asset Management's AUM change in November 2024?

Western Asset Management's AUM decreased from $328 billion to $317 billion in November 2024.

How did Franklin Resources' (BEN) equity AUM change in November 2024?

Franklin Resources' equity AUM increased from $618.2 billion to $643.8 billion in November 2024.