Franklin Resources reported $453.1 billion in assets under management as of Sept. 30, up 7% from the previous quarter and 25% from the year before. Net income for the latest quarter was $334.5 million, up 28% from the previous quarter and 78% from the year before. Net sales were $8 billion in the third quarter, compared with $7.7 billion for the prior quarter and $6.6 billion for the previous year.
Separately, AMVESCAP, parent of the AIM mutual fund family and institutional unit INVESCO, reported $380.5 billion in assets as of Sept. 30, up 2% from the prior quarter but down 0.4% from the year before. AMVESCAP reported a $119.7 million profit before taxes for the quarter ended Sept. 30, up from $81.3 million, before settlement charges for regulatory issues, for the year before.
AIM's U.S. assets for the third quarter rose by $100 million to $128.7 billion but fell 6.4% from the year before. The third-quarter increase came from market gains which offset net outflows. INVESCO's U.S. assets increased by $400 million in the third quarter to $117.2 billion but fell 3.1% from the year before.
