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July 29, 2013 01:00 AM

Franklin Resources' assets dip in quarter despite net inflows of $8.4 billion

Kevin Olsen
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    Franklin Resources reported Monday assets under management of $815 billion as of June 30, down 1% from the previous quarter, but up 15% from a year earlier.

    For the latest quarter, the company reported net inflows of $8.4 billion but also suffered $16.3 billion in market depreciation, Franklin said in an earnings release. It had net inflows of $18.3 billion last quarter and $4.8 billion the year-before quarter.

    Franklin Resources' taxable global and international fixed-income offerings saw net inflows of $10.2 billion for the quarter. Fixed income overall saw net inflows of $8.1 billion while equity had $700 million in net outflows; cash strategies saw $1 billion in net inflows.

    Net income was $552.3 million in the quarter, down 4% from the prior quarter and up 21% from the year-ago quarter.

    Operating income of $771.7 million was up 6% from the previous quarter and up 20% over the second quarter of 2012.

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