Franklin Resources, Inc. Announces Month-End Assets Under Management

November 10, 2008 4:30 PM EST

SAN MATEO, Calif.--(BUSINESS WIRE)--

Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today reported preliminary month-end assets under management by the company's subsidiaries of $426.5 billion at October 31, 2008, compared to $507.3 billion at September 30, 2008 and $669.3 billion at October 31, 2007.

ASSETS UNDER MANAGEMENT
                               Preliminary
(In billions)                  31-Oct- 30-Sep- 30-Jun- 31-Mar- 31-Oct-
                                08      08      08      08      07
----------------------------------------------------------------------
Franklin Templeton
 Investments:
  Equity:
    Global/international        $147.6  $190.3  $233.7  $243.4  $302.1
    Domestic (U.S.)               58.4    72.9    82.5    84.8   102.3
                               ---------------------------------------
    Total equity                 206.0   263.2   316.2   328.2   404.4
                               ---------------------------------------

  Hybrid                          80.5    93.9   109.5   109.8   120.2

  Fixed-Income:
    Tax-free                      57.5    59.7    61.6    59.6    59.3
    Taxable:
       Global/international       45.2    52.7    54.3    54.5    47.2
       Domestic (U.S.)            29.1    30.5    31.6    31.5    31.8
                               ---------------------------------------
    Total fixed-income           131.8   142.9   147.5   145.6   138.3
                               ---------------------------------------

  Money Market                     8.2     7.3     7.0     7.5     6.4

                               ---------------------------------------
Total                           $426.5  $507.3  $580.2  $591.1  $669.3
                               =======================================

Franklin Resources, Inc. is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience. For more information, please call 1-800/DIAL BEN(R) or visit franklintempleton.com.

Forward-Looking Statements:

The financial results in this press release are preliminary. Statements in this press release regarding Franklin Resources, Inc. and its subsidiaries, which are not historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These 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 the actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. 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, 2007 and Franklin's subsequent Form 10-Q filings.

    --  We are subject to extensive and often complex, overlapping and
        frequently changing rules, regulations and legal
        interpretations.

    --  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 assets
        under management, increase costs and negatively impact our
        profitability and future financial results.

    --  Our ability to maintain the beneficial tax treatment we
        anticipate with respect to non-U.S. earnings we have
        repatriated is based on current interpretations of the
        American Jobs Creation Act of 2004 (the "Jobs Act") and timely
        and permitted use of such amounts in accordance with our
        domestic reinvestment plan and the Jobs Act.

    --  Any significant limitation or failure of our software
        applications and other technology systems that are critical to
        our operations could constrain our operations.

    --  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 net income.

    --  Changes in the distribution and sales channels on which we
        depend could reduce our revenues and hinder our growth.

    --  The amount or mix of our assets under management are subject
        to significant fluctuations and could negatively impact our
        revenues and income.

    --  Our increasing focus on international markets as a source of
        investments and sales of investment products subjects us to
        increased exchange rate and other risks in connection with
        earnings and income generated overseas.

    --  Poor investment performance of our products could affect our
        sales or reduce the level of assets under management,
        potentially negatively impacting our revenues and income.

    --  We could suffer losses in earnings or revenue if our
        reputation is harmed.

    --  Our future results are dependent upon maintaining an
        appropriate level of expenses, which is subject to
        fluctuation.

    --  Our ability to successfully integrate widely varied business
        lines 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.

    --  Certain of the portfolios we manage, including our emerging
        market portfolios, are vulnerable to market-specific
        political, economic or other risks, any of which may
        negatively impact our revenues and income.

    --  Our revenues, earnings and income could be adversely affected
        if the terms of our management agreements are significantly
        altered or these agreements are terminated by the funds we
        advise.

    --  Diverse and strong competition limits the interest rates that
        we can charge on consumer loans.

    --  Civil litigation arising out of or relating to previously
        settled regulatory and governmental investigations, regulatory
        or governmental investigations and/or examinations 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 our asset value, credit worthiness and the market
        value of our stock.

    Source: Franklin Resources, Inc.

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?