Franklin's (BEN) April AUM Declines 2.5% on Weaker Markets [Yahoo! Finance]
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Source: Yahoo! Finance
The decline in AUM balance was primarily due to the impact of negative markets and long-term net outflows, including $5.9 billion related to the $25 billion AUM received from the Great-West Lifeco acquistion. BEN recorded equity assets of $564.4 billion, which declined 4.8% from the previous month. Further, fixed income AUM of $559.6 billion at the end of April 2024 decreased 2.1% from the previous month. Multi-asset AUM and alternative assets were $162.6 billion and $255 billion, respectively, which decreased marginally from March 2024. However, the cash management balance was $62.2 billion, up nearly 1% from the prior month's level. The month of April was a challenging period for Franklin, largely 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 six months, shares of BEN have gained 7.3% compared with the industry's 26.5% growth. Image Source: Z
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