Franklin Resources (NYSE:BEN) said Wednesday its preliminary assets under management totaled $1.39B at December 31, down 1.6% sequentially, hurt by a selloff in financial markets.
The drop in AUM was partially offset by long-term net inflows.
For the quarter ended December 31, AUM reflected positive impact of markets and the acquisition of Alcentra, partially offset by long-term net outflows of $10.9B (including $12.1B in reinvested distributions).
By asset class, equity AUM fell 5.1% sequentially and 25.5% Y/Y to $419.5B.
Fixed income AUM dipped 0.5% M/M to $495.2B (-22.9% Y/Y).
Alternative AUM came in largely flat at $256.4B, compared with $257B in November and $154.3B in December 2021.
Multi-asset AUM totaled $141.4B vs. $144.1B in November and $154B in December 2021.