SOURCE: Franklin Resources, Inc.

Franklin Resources, Inc.

February 10, 2014 16:30 ET

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

SAN MATEO, CA--(Marketwired - Feb 10, 2014) - Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today reported preliminary month-end assets under management by the company's subsidiaries of $857.2 billion at January 31, 2014, compared to $879.1 billion at December 31, 2013, and $809.8 billion at January 31, 2013.

                 
ASSETS UNDER MANAGEMENT        
                 
    Preliminary            
(In billions)   31-Jan-14   31-Dec-13   30-Sep-13   30-Jun-13   31-Jan-13
Franklin Templeton Investments:                              
  Equity:                              
    Global/international   $ 249.8   $ 260.4   $ 243.9   $ 224.0   $ 232.7
    United States     103.3     105.3     97.2     89.5     85.5
    Total equity     353.1     365.7     341.1     313.5     318.2
                                 
  Hybrid     146.6     147.8     137.5     129.4     125.2
                                 
  Fixed-Income:                              
    Tax-free     69.6     69.0     72.4     79.1     85.1
    Taxable:                              
      Global/international     222.2     231.3     228.8     229.1     217.5
      United States     59.3     58.7     58.3     57.5     57.9
    Total fixed-income     351.1     359.0     359.5     365.7     360.5
                                 
  Cash Management     6.4     6.6     6.6     6.4     5.9
                               
Total   $ 857.2   $ 879.1   $ 844.7   $ 815.0   $ 809.8
                               

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, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience. The company posts information that may be significant for investors in the Investor Relations and News Center sections of its website, and encourages investors to consult those sections regularly. For more information, please visit franklinresources.com.

Forward-Looking Statements

The financial results in this press release are preliminary. Statements in this press release regarding Franklin Resources, Inc. ("Franklin") and its subsidiaries, which are not historical facts, are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, words or phrases generally written in the future tense and/or preceded by words such as "will," "may," "could," "expect," "believe," "anticipate," "intend," "plan," "seek," "estimate," "preliminary" or other similar words are forward-looking statements.

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 actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

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, 2013 and Franklin's subsequent Quarterly Report on Form 10-Q:

  • Volatility and disruption of the capital and credit markets, and adverse changes in the global economy, may significantly affect our results of operations and may put pressure on our financial results.
  • The amount and mix of our assets under management are subject to significant fluctuations.
  • We are subject to extensive, complex, overlapping and frequently changing rules, regulations and legal interpretations.
  • U.S. 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 financial condition and results of operations.
  • Failure to comply with the laws, rules or regulations in any of the non-U.S. jurisdictions in which we operate could result in substantial harm to our reputation and results of operations.
  • Changes in tax laws or exposure to additional income tax liabilities could have a material impact on our financial condition, results of operations and liquidity.
  • Any significant limitation, failure or security breach of our information and cyber security infrastructure, software applications, technology or other systems that are critical to our operations could constrain our operations.
  • Our business operations are complex and a failure to properly perform operational tasks or the misrepresentation of our products and services, or the termination of investment management agreements representing a significant portion of our assets under management, could have an adverse effect on our revenues and income.
  • 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 income.
  • Changes in the third-party distribution and sales channels on which we depend could reduce our income and hinder our growth.
  • 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 our revenues and income generated overseas.
  • Harm to our reputation or poor investment performance of our products could reduce the level of our assets under management or affect our sales, potentially negatively impacting our revenues and income.
  • Our future results are dependent upon maintaining an appropriate level of expenses, which is subject to fluctuation.
  • Our ability to successfully manage and grow our business 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 significant market-specific political, economic or other risks, any of which may negatively impact our revenues and income.
  • Regulatory and governmental examinations and/or investigations, litigation 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 the market value of our assets, operating cash flows and our perceived creditworthiness.
  • Our business could be negatively affected if we or our banking subsidiaries fail to satisfy regulatory and supervisory standards.
  • We are dependent on the earnings of our subsidiaries.

Any forward-looking statement made by us in this press release speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

Contact Information

  • Contact:
    Franklin Resources, Inc.
    Media Relations:
    Matt Walsh
    (650) 312-2245

    Investor Relations:
    Brian Sevilla
    (650) 312-4091
    franklinresources.com