Franklin Resources, Inc. BEN reported its preliminary assets under management (AUM) of $1.63 trillion as of Oct. 31, 2024. This reflected a decrease of 2.9% from the prior month.

The decline in the AUM balance was due to the impacts of negative markets and long-term net outflows of $18.5 billion, including the previously disclosed $17.8 billion of long-term net outflows at Western Asset Management.

Break Down of BEN’s AUM Based on Asset Class

BEN recorded equity assets of $618.2 billion, which fell 2.2% from the previous month. The fixed income AUM of $524.6 billion at the end of October 2024 declined 5.7% from the prior month. Likewise, multi-asset AUM was $174.4 billion, which fell 1% from September 2024. 

Alternative AUM decreased 0.8% to $247.9 billion from the prior month. Alternative AUM in the reported month includes a $0.3-billion reduction related to the reclassification of assets under administration.

The cash management balance was $65.6 billion, up 2.5% from the previous month.

Our Viewpoint on BEN

October was a challenging period for Franklin due to weaker markets and long-term net outflows. Nonetheless, increased cash management, along with BEN’s efforts to grow inorganically, supported its financials.

Over the past three months, BEN shares have gained 0.1% compared with the industry’s 27.5% rise.

Image Source: Zacks Investment Research

Currently, BEN carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Asset Managers

Cohen & Steers, Inc. CNS reported a preliminary AUM of $89.7 billion as of Oct. 31, 2024. This reflected a decline of 2.3% from the prior month.

The decrease in CNS’s AUM balance was due to market depreciation of $2.3 billion and distributions of $150 million, partially offset by net inflows of $454 million.

Victory Capital Holdings, Inc. VCTR reported a preliminary AUM of $172.3 billion as of Oct. 31, 2024. This reflected a decline of 2.4% from the prior month.

For October, VCTR’s average total AUM was $175.0 billion, average other assets were $4.6 billion, and average total client assets were $179.6 billion.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Franklin Resources, Inc. (BEN) : Free Stock Analysis Report

Cohen & Steers Inc (CNS) : Free Stock Analysis Report

Victory Capital Holdings, Inc. (VCTR) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research