MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, April 28, 2009 AUM and Net Income Decline Again at Franklin Franklin Resources' first quarter results kept it firmly in the black, but with lower income and assets under management. On Tuesday the San Mateo, California-based manager of the Franklin Templeton funds unveiled Q1 2009 net income of $110.8 million, down from $120.9 million in Q4 2008 and $366.1 million in Q1 2008. Franklin's AUM fell from $591.1 billion on March 31, 2008 and $416.2 billion on December 31, to $391.1 billion on March 31, 2009. In its release, Franklin also confirmed several strategic moves, including: moves into Malaysia and Mexico; and an increase in its stake, now 40 percent, in Dubai-based Algebra Capital, after purchasing a 25 percent stake in 2007 (see MFWire, 9/4/2007 and 2/6/2009). Printed from: MFWire.com/story.asp?s=21420 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |