Franklin Resources had $717.1 billion in assets under management as of Sept. 30, the company's fourth quarter, down 1% from the end of the previous quarter and a 5% drop from a year earlier, according to Franklin's earnings release issued Thursday.
Assets under management at Franklin have declined in four of the past six quarters.
Net outflows in the latest quarter were $13.6 billion, compared with net outflows of $12.1 billion in the previous quarter and net outflows of $5.9 billion in the year prior.
Institutional net outflows were $2.7 billion in the quarter ended Sept. 30, vs. net outflows of $2.1 billion in the previous quarter and net outflows of $3.9 billion in the quarter ended Sept. 30, 2017.
Gregory Johnson, Franklin chairman and CEO, said in a commentary on the earnings that the outflows in the latest quarter were the result of decreased international sales and the redemption of an $820 million global equity mandate by an unnamed U.S. client.