Franklin Resources' quarterly assets under management peaked in December 2021 at $1.58 trillion. AUM declined throughout 2022, ending at $1.39 trillion before edging up in the first quarter to $1.42 trillion.
Franklin Resources adding AUM via acquisitions
Typically, Franklin Resources has experienced net outflows since at least March 2020. In the first quarter of 2023, net outflows were $8 billion. Net outflows have totaled $130.5 billion since the start of 2020.
The fourth quarter of 2022 had $6.6 billion in net inflows, but that was due to a large $17.5 billion in cash management inflows.
Over the years, Franklin Resources has used acquisitions to increase its AUM. Its M&A activity includes the large 2020 Legg Mason deal in which it gained nearly $800 billion in assets. And last month, Franklin Resources announced it would acquire Putnam Investments, adding $136 billion in AUM.
The total change in AUM due to market changes is -$55.5 billion since the start of 2020..