Franklin Resources, Inc. has recently released its 10-Q report, providing an insight into the company's financial condition and results of operations. The firm is a publicly owned asset management holding company that offers services to individuals, institutions, pension plans, trusts, and partnerships. The company's investment capabilities include equity, fixed income, balanced, and multi-asset mutual funds, with a focus on public equity, fixed income, and alternative markets. As of June 30, 2024, the company's total assets under management (AUM) stood at $1,646.6 billion, reflecting a 15% increase from the previous year.
The 10-Q report includes a detailed discussion on the management's analysis of the financial condition and results of operations. It provides an overview of the company's performance during the third fiscal quarter, highlighting positive returns in global equity markets and an increase in AUM. The report also mentions the acquisition of Putnam Investments on January 1, 2024, which contributed to the growth in AUM.
In terms of financial results, the report presents specific figures for the three and nine months ended June 30, 2024. Operating revenues for the three months ended June 30, 2024, were $2,122.9 million, representing an 8% increase compared to the same period in the previous year. However, net income attributable to Franklin Resources, Inc. saw a 24% decrease, amounting to $174.0 million for the same period.
The report also provides a breakdown of AUM by asset class, showing increases in equity, fixed income, and multi-asset AUM compared to the previous year. Additionally, it outlines the components of the change in AUM, including long-term inflows, outflows, and net market changes.
Following these announcements, the company's shares moved -2.5%, and are now trading at a price of $23.05. For the full picture, make sure to review Franklin Resources's 10-Q report.
