MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, October 28, 2009 Franklin's Numbers Draw the WSJ's Notice Sam Mamudi of The Wall Street Journal delved into Franklin Resources' earnings report in Wednesday's Fund Track column. Notable in the earnings was the 6.1 percent year-over-year drop in expenses. A 22 percent profit gain led Franklin to earnings per share of $1.60, outpacing analyst estimates of $1.32. Nevertheless, Franklin shares fell 3.56 percent Tuesday to $109. Mamudi also noted that fixed income is increasing its impact at Franklin, making up 33 percent of total assets as of September 30, up 5 percentage points from the same time last year. The article included a quote from Bill Smead, whose Smead Value Fund has Franklin as its second largest holding. "They're enjoying the benefits of the inflows coming into bonds, but also seeing the appreciation in the stock market," Smead told Mamudi. The Fund Track column also contained a report from Daisy Masey, who explored the effect tax incentives have on Build America Bonds. Pensions and foreign investors are most attracted to the taxable bonds, she wrote. Printed from: MFWire.com/story.asp?s=23068 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |