Franklin Resources, Inc. has recently released its 10-K report, providing a detailed overview of its financial performance and operations. The company, a publicly owned asset management holding company, offers a broad range of investment products and services to individuals, institutions, pension plans, trusts, and partnerships. Its subsidiaries manage equity, fixed income, balanced, and multi-asset mutual funds, investing in public equity, fixed income, and alternative markets. The company's total assets under management (AUM) were reported at $1,678.6 billion at the end of fiscal year 2024, marking a 22% increase from the previous year.
In terms of financial performance, Franklin Resources reported operating revenues of $8,478.0 million for fiscal year 2024, representing an 8% increase from the prior year. However, net income attributable to Franklin Resources, Inc. saw a decline of 47%, amounting to $464.8 million. The company's diluted earnings per share also decreased by 51% to $0.85.
The breakdown of AUM by asset class reveals significant growth in equity AUM, which reached $632.1 billion, marking a 47% increase from the previous year. Fixed income AUM stood at $556.4 billion, reflecting a 15% increase, while alternative and multi-asset AUM also experienced growth. The company's AUM by sales region showed a 20% increase in the United States and a substantial 51% increase in the Asia-Pacific region.
The report also highlighted the company's investment performance, with a focus on the percentage of AUM exceeding peer group medians and benchmarks. The data indicated that a significant portion of the company's mutual fund AUM exceeded peer group medians across various time periods, demonstrating strong performance relative to peers.
Following these announcements, the company's shares moved -0.5%, and are now trading at a price of $21.46. If you want to know more, read the company's complete 10-K report here.
