Franklin Resources reported $732.1 billion in assets under management as of June 30, down 1% from three months earlier and down 16% year-over-year, the company's earnings release said.
The release Thursday shows the company had $19.2 billion in net outflows in the quarter, which was partially offset by $9.8 billion of market appreciation. Franklin had reported $24.6 billion in net outflows in the previous quarter and $11.1 billion in net outflows in the year-over-year quarter.
“We continue to experience net outflows, though we did see an improvement in flows from nearly all investment objectives,” Franklin Resources CEO Gregory Johnson said in the release.
Franklin Resources reported operating revenue of $1.63 billion in the quarter ended June 30, up 1% from the previous quarter and down 18% from the quarter ended June 30, 2015.
Net income of $446.4 million in the quarter was up 24% from the previous quarter but down 11% from the year-earlier quarter.