Franklin Resources subsidiaries had a combined $412.1 billion in assets under management as of March 31, the end of the firm's fiscal second quarter, said Stacey Johnston, spokeswoman. Franklin's units had a total of $402.2 billion in assets as of Dec. 31 and $351.6 billion as of March 31, 2004. The units manage 57% of the money in equities, unchanged from the previous quarter; 24% in fixed income, down one percentage point from the previous quarter; and 17% in hybrid assets, also unchanged from the previous quarter.
The firm reported net income of $221.3 million as of March 31, compared with $240 million for the quarter ended Dec. 31. The quarterly results included a $26.5 million after-tax charge related to a previously announced settlement with the Ontario Securities Commission concerning market timing activity.
