Franklin Resources on Thursday reported assets under management of $879.1 billion as of Dec. 31, up 4% from the end of the previous quarter and up 12% from a year earlier.
The gain in assets came entirely from $36 billion in market appreciation. Franklin reported equal inflows and outflows, compared to $2.7 billion in net outflows the prior quarter. For the year, Franklin had $24 billion in net inflows and $77.3 billion in market appreciation.
As of Dec. 31, Franklin Resources had $513.5 billion AUM in equity and hybrid strategies, $359 billion in fixed income and $6.6 billion in cash management.
Franklin's net income increased to $603.8 million in the quarter, up 19% from the previous quarter and up 17% from a year earlier. Revenue of $2.1 billion in the three months ended Dec. 31 was up 6% from the third quarter and up 11% from the fourth quarter of 2012.