Franklin Resources, Inc. Announces Month-End Assets Under Management
SAN MATEO, Calif., Jan. 09, 2019 (GLOBE NEWSWIRE) -- Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today reported preliminary month-end assets under management of $649.9 billion at December 31, 2018, compared to $683.3 billion at November 30, 2018. The decrease in assets under management was due to net market change and other that more than offset positive net flows that resulted from a seasonal increase in distributions. Preliminary average assets under management for the quarter ended December 31, 2018, were $683.3 billion.
ASSETS UNDER MANAGEMENT
Prelimin ary (In billions) 31-Dec-130-Nov-130-Sep-130-Jun-131-Dec-17 8 8 8 8 ------------------------------- ------- ------- ------- ------- --------- Franklin Templeton Investments: Equity: Global/international $ 166.0 $ 178.7 $ 194.4 $ 201.0 $ 212.0 United States 97.1 107.4 115.2 109.6 109.4 Total equity 263.1 286.1 309.6 310.6 321.4 - ----- - ----- - ----- - ----- - ------- Multi-Asset/Balanced 124.8 132.2 138.9 137.7 142.7 Fixed Income: Tax-free 62.0 62.4 63.9 65.6 69.4 Taxable: Global/international 147.7 150.3 150.6 154.5 163.7 United States 42.2 43.0 44.8 46.6 50.0 Total fixed income 251.9 255.7 259.3 266.7 283.1 - ----- - ----- - ----- - ----- - ------- Cash Management 10.1 9.3 9.3 9.1 6.6 Total $ 649.9 $ 683.3 $ 717.1 $ 724.1 $ 753.8 - ----- - ----- - ----- - ----- - -------
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 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in more than 30 countries, the California–based company has over 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.
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:
-- 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 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.
Franklin Resources, Inc. FROM: Media Relations: Matt Walsh (650) 312-2245 Investor Relations: Brian Sevilla (650) 312-4091 investors.franklinresources.com