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Rating:Franklin Sees Strong Growth from Overseas Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, May 11, 2005

Franklin Sees Strong Growth from Overseas

by: Sean Hanna, Editor in Chief

Don't blame an executive from Franklin Resources if she shares an overseas fantasy the next time you see her. Foreign lands have been good to the San Mateo, California-based fund firm over the past year.

This week the fund manager reported that it assets under management grew by $45 billion from April 2004 to April 2005. All counted it reported preliminary assets under management of $409.2 billion for the month ended April 30, 2005, compared to $412.1 billion in the preceding month and $343.8 billion in the same month a year ago.

Roughly three-quarters of that growth was in global and international assets. Assets in that category hit $161 billion in April, up more than $36 billion from $124 billion the year before.

Also gaining were assets in hybrid funds. Franklin reported $68.9 in hybrid assets at the end of April compared to $53.9 billion at the end of April in 2004.

Domestic assets grew to $70.9 billion from $63.8 billion the year before. Global fixed income assets grew to $17.1 billion from $13.4 billion while domestic taxable fixed income assets reached $32.5 billion from $30.6 a year ago.  

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