Franklin's November AUM Edges Lower Despite Positive Markets

Core Insights - Franklin Resources, Inc. (BEN) reported preliminary assets under management (AUM) of $1.67 trillion as of November 30, 2025, reflecting a slight decrease from the previous month [1][7] - The decline in AUM was attributed to flat long-term flows and $1 billion in net outflows at Western Asset Management, although market performance had a positive impact [1][4] AUM Breakdown by Asset Class - Equity assets amounted to $694.1 billion, showing a marginal decrease from the prior month [2] - Fixed income AUM was $437.1 billion at the end of November 2025, also down slightly from the previous month [2] - Alternative AUM increased marginally to $269.3 billion [2] - Multi-asset AUM rose by 1.2% to $198.1 billion [3] - Cash management balance decreased by 13.9% to $75.9 billion [3] Company Performance and Outlook - The slight decline in total AUM was driven by flat long-term flows and outflows at Western Asset Management, with some offset from gains in alternative and multi-asset categories [4] - Equity, fixed income, and cash balances softened, indicating near-term flow pressures [4] - Despite these fluctuations, the company's ongoing inorganic initiatives and strategic partnerships are expected to support long-term growth [4] Stock Performance - Over the past year, BEN shares have gained 2.7%, contrasting with a 21.4% decline in the industry [5]