stock is faring better than other publicly traded asset managers in the S&P 500 index. Bloomberg
that Franklin gained 14 percent through July 29, compared
with a decline of 10 percent for S&P's 11-member index of large
asset management firms and custody banks.
"Shareholders are paying almost three times as much for every dollar Franklin manages as they shell out for BlackRock Inc. (BLK)’s $3.7
rillion in assets, and more than four times as much as they’re willing to
pay for Legg Mason Inc. (LM)," writes Bloomberg's Laura Keeley.
Keeley notes that Franklin is benefiting from investor appetite for
international stocks and bonds. Franklin has 89 percent of assets outside
"The big shift in the last few years is people want to diversify and maintain purchasing power,"
Franklin CEO Greg Johnson
tells Bloomberg. "That's really where global bonds have been such a perfect fit."
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