Franklin Resources' AUM up 3.6% in quarter to $844.7 billion

Franklin Resources on Thursday reported assets under management of $844.7 billion as of Sept. 30, up 3.6% from the end of the previous quarter and up 12.6% from a year earlier.

The gain in assets came despite net outflows of $2.7 billion in the quarter ended Sept. 30. In the quarter ended June 30, Franklin reported net inflows of $8.4 billion. The company had net inflows of $2.9 billion in the quarter ended Sept. 30, 2012.

Franklin's net income increased to $509 million in the quarter, down 8% from the previous quarter and up 3% from the year-ago quarter. Revenue of $1.9 billion in the three months ended Sept. 30 was down 5% from the previous quarter but up 9% from the year-earlier quarter.