Franklin Resources on Monday reported $898 billion in assets under management as of Sept. 30, down 2.4% from three months earlier but up 6.3% from a year earlier.
Net outflows for the quarter were $100 million, compared to net inflows of $2.6 billion for the quarter ended June 30 and net outflows of $2.7 billion for the same quarter a year ago.
The quarterly decrease of $22.5 billion in AUM was due primarily to market depreciation and the impact of foreign-exchange revaluation, said the company's quarterly earnings report. The company had a year-over-year AUM increase of $53.3 billion, despite $4.6 billion in net outflows during the 12-month period.
Total equity AUM at Sept. 30 was $371 billion, down 4% from June 30 but up 9% from Sept. 30, 2013. Fixed-income assets totaled $361 billion, down 1% from June 30 and flat from a year earlier.
Hybrid strategy assets totaled $159 billion, down 2% from three months earlier but up 16% from 12 months earlier. Cash totaled $7 billion, a 9% rise from the end of the second quarter and up 6% from the previous year.
Franklin's net income was $640.6 million in the quarter ended Sept. 30, up 11% from the prior quarter and up 26% from the year-earlier quarter.
Revenue, meanwhile, was $2.16 billion in the three months ended June 30, up 1% from the previous quarter and up 9% from the same period a year earlier.