Franklin Resources on Monday reported $886.9 billion in assets under management as of March 31, up 0.8% from the previous quarter and up 7.7% from the year before.
That gain comes despite $7.1 billion in net outflows — due to market returns — totaling $15.9 billion.
The increase in AUM of $63.2 billion in the year ended March 31 was also primarily due to market appreciation, which totaled $68.7 billion in that time period, with $5.5 billion in net outflows for the year.
Equity and hybrid strategy AUM as of March 31 totaled $526.9 billion, up 2.6% from the previous quarter, and fixed income AUM totaled $353.7 billion, down 1.4% from the previous quarter.
Franklin's net income dropped 7.1% to $561 million in the first quarter from the end of 2013 and down 2.1% from the first quarter of 2013.
Meanwhile, revenue was relatively flat from quarter to quarter, at $2.1 billion in the three months ended March 31, down 0.6% from the previous quarter, but up 4.1% from the first quarter of 2013.
