Franklin Resources AUM down 8.9% in quarter

Franklin Resources today reported assets under management of $591.1 billion as of March 31, down 8.9% from the prior quarter but up 2.6% from the year before. For the latest quarter, Franklin reported net income of $366.1 million, down 41.6% from the prior quarter and 20.4% lower than the year-earlier quarter. Revenue came to $1.5 million, down 12.1% from the prior quarter and down 0.4% from the year before, according to a news release.