Today Franklin Resources
filed its quarterly earnings report
, highlighting $4.7 billion in new inflows and better-than-expected earnings.
But the firm's total AUM was down 2.5 percent on the quarter, to $707 billion, and revenue dropped to $1.78 billion from $1.85 billion. And the $4.7 billion in inflows is less than the previous quarter's $5.6 billion.
In a prerecorded conference call
, Franklin president Gregory Eugene Johnson
called it "another strong quarter of results despite persistent global market headwinds."
He also notes that long-term sales decreased 14 percent this quarter. The firm's flagship fund, the five-star, $59.9 billion Templeton Global Bond Fund
, was the firm's top seller, but had a slight drop in AUM this quarter.
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