Franklin Resources' overall total assets under management stayed about...

Franklin Resources’ overall total assets under management stayed about the same last year, but fees dropped. According to financial reports for the year ended Dec. 31, Franklin Templeton Group had $220.2 billion in total assets at year’s end, compared with $221 billion on Dec. 31, 1997. Asset management fees were down to $330 million in the last three months of 1998, compared with $348 million for the same period of 1997. A $46 million restructuring charge in this quarter weakened operating income, leading to a 47% drop in net income for the period, compared with 1997.