2009-11-09 22:41:06 -
SAN MATEO, CA -- (Marketwire) -- 11/09/09 -- Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today reported preliminary month-end assets under management by the company's subsidiaries of $523.1 billion at October 31, 2009, compared to $523.4 billion at September 30, 2009 and $426.5 billion at October 31, 2008.
ASSETS UNDER MANAGEMENT
Preliminary
(In billions) 31-Oct-09 30-Sep-09 30-Jun-09 31-Mar-09 31-Oct-08
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Franklin Templeton Investments:
Equity:
Global/international $ 179.4 $ 183.1 $ 153.1 $ 124.7 $ 147.6
Domestic (U.S.) 62.2 63.9 56.7 48.5 58.4
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Total equity 241.6 247.0 209.8 173.2 206.0
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Hybrid 98.0 98.2 85.8 75.0 80.5
Fixed-Income:
Tax-free 68.6 69.6 62.4 59.3 57.5
Taxable:
Global/international 68.8 63.3 50.2 43.0 45.2
Domestic (U.S.) 39.2 38.4 35.5 32.5 29.1
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Total fixed-income 176.6 171.3 148.1 134.8 131.8
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Cash Management* 6.9 6.9 7.5 8.1 8.2
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Total $ 523.1 $ 523.4 $ 451.2 $ 391.1 $ 426.5
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* Includes both U.S.-registered money market funds and foreign funds with
similar investment objectives.
Franklin Resources, Inc. is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams. The San Mateo, CA-based company has more than 60 years of investment experience. For more information, please call 1-800/DIAL BEN® or visit franklinresources.com.
Forward-Looking Statements:
The financial results in this press release are preliminary. Statements in this press release regarding Franklin Resources, Inc. ("Franklin") and its subsidiaries, which are not historical facts, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors, some of which are listed below, that could cause the actual results and outcomes to differ materially from any future results or outcomes expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are described in more detail in Franklin's recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations in Franklin's Annual Report on Form 10-K for the fiscal year ended September 30, 2008 and Franklin's subsequent Quarterly Reports on Form 10-Q.
-- The ongoing volatility and disruption of the capital and credit
markets, and adverse changes in the global economy, have significantly
affected our results of operations and may continue to put pressure on our
financial results.
-- The amount and mix of our assets under management are subject to
significant fluctuations.
-- We are subject to extensive and complex, overlapping and frequently
changing rules, regulations and legal interpretations.
-- Regulatory and legislative actions and reforms have made the
regulatory environment in which we operate more costly and future actions
and reforms could adversely impact our assets under management, increase
costs and negatively impact our profitability and future financial results.
-- Our ability to maintain the beneficial tax treatment we anticipate
with respect to non-U.S. earnings we have repatriated is based on current
interpretations of the American Jobs Creation Act of 2004 (the "Jobs Act")
and permitted use of such amounts in accordance with our domestic
reinvestment plan and the Jobs Act.
-- Any significant limitation or failure of our software applications,
technology or other systems that are critical to our operations could
constrain our operations.
-- Our investment management business operations are complex and a
failure to properly perform operational tasks or the misrepresentation of
our products and services could have an adverse effect on our revenues and
income.
-- We face risks, and corresponding potential costs and expenses,
associated with conducting operations and growing our business in numerous
countries.
-- We depend on key personnel and our financial performance could be
negatively affected by the loss of their services.
-- Strong competition from numerous and sometimes larger companies with
competing offerings and products could limit or reduce sales of our
products, potentially resulting in a decline in our market share, revenues
and net income.
-- Changes in the third-party distribution and sales channels on which we
depend could reduce our revenues and hinder our growth.
-- Our increasing focus on international markets as a source of
investments and sales of investment products subjects us to increased
exchange rate and other risks in connection with earnings and income
generated overseas.
-- Poor investment performance of our products could affect our sales or
reduce the level of assets under management, potentially negatively
impacting our revenues and income.
-- We could suffer losses in earnings or revenue if our reputation is
harmed.
-- Our future results are dependent upon maintaining an appropriate level
of expenses, which is subject to fluctuation.
-- Our ability to successfully integrate widely varied business lines can
be impeded by systems and other technological limitations.
-- Our inability to successfully recover should we experience a disaster
or other business continuity problem could cause material financial loss,
loss of human capital, regulatory actions, reputational harm or legal
liability.
-- Certain of the portfolios we manage, including our emerging market
portfolios, are vulnerable to significant market-specific political,
economic or other risks, any of which may negatively impact our revenues
and income.
-- Our revenues, earnings and income could be adversely affected if the
terms of our management agreements are significantly altered or these
agreements are terminated by the funds and other sponsored investment
products we advise.
-- Regulatory and governmental examinations and/or investigations, civil
litigation relating to previously settled regulatory and governmental
investigations, and the legal risks associated with our business, could
adversely impact our assets under management, increase costs and negatively
impact our profitability and/or our future financial results.
-- Our ability to meet cash needs depends upon certain factors, including
our asset value, credit worthiness and the market value of our stock.
-- Our ability to access the capital markets in a timely manner should we
seek to do so depends on a number of factors.
-- Diverse and strong competition limits the interest rates that we can
charge on consumer loans.
-- Our business could be negatively affected if we or our banking
subsidiaries fail to remain well capitalized.
-- Liquidity needs could affect our banking business.
-- We are dependent on the earnings of our subsidiaries.
Contact:
Franklin Resources, Inc.
Corporate Communications:
Matt Walsh
(650) 312-2245
Investor Relations:
Brian Sevilla
(650) 312-4091
franklinresources.com
