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Franklin Resources (NYSE:BEN) posted on Monday preliminary assets under management of $1.60T at Jan. 31, 2024, a 9.6% increase from $1.46T at Dec. 31, 2023.
The M/M gain reflects its acquisition of Putnam Investments, which had total AUM of $148B as of Dec. 31, 2023, partially offset by slight long-term net outflows.
BEN's month-end AUM climbed 10.3% from a year ago.
Fixed-income AUM of $565.9B rose from $511.7B in the prior month and $512.1B in the year-earlier period.
Equity AUM jumped 17.8% M/M and 23.7% Y/Y to $550.9B.
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