Poor investment performance and outflows will limit Franklin Resources' AUM growth.
Even though wide-moat Franklin Resources closed out the month of July 2016 with slightly more assets under management than we were projecting, we are leaving our $37 per share fair value estimate in place. Franklin reported total AUM of $739.9 billion at the end of July, up 1.1% sequentially (but still down 13.4% on a year-over-year basis). The firm's equity portfolios benefited from the rebound in the global markets, with its global/international equity AUM rising 3.0% during the month, and its...Franklin Resources is a holding company that, together with its subsidiaries, operates as Franklin Templeton?. The company is an investment management organization that provides investment management and related services to retail, institutional and investors in jurisdictions worldwide through its investment products. The company's investment products include its sponsored funds, as well as institutional and separate accounts, and sub-advised products. The company's funds include registered and unregistered funds. The company's services include fund administration, sales and distribution, and shareholder servicing. The company also provides sub-advisory services to certain investment products sponsored by other companies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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