Franklin Resources(US:BEN)2024-11-04 16:56AUM and Flows - Ending AUM reached $1.6786 trillion, a 22.2% increase compared to the previous fiscal year[9, 12, 15] - Long-term inflows increased by 25% year-over-year, with growth in all regions[9, 33] - Long-term net outflows were $32.6 billion, including $20.7 billion of reinvested distributions; excluding Western Asset Management, there were long-term net inflows of $16.0 billion[9, 33] - Private markets fundraising totaled $14.8 billion[9, 24] Financial Performance - Adjusted revenues increased by 7.5% for fiscal year 2024, primarily due to the inclusion of Putnam Investments and higher average AUM[14, 15] - Adjusted operating income decreased by 6.1%, mainly due to higher incentive compensation, lower performance fees, and increased operating expenses[14, 15] - Adjusted net income and EPS declined by 4.2% and 8.1%, respectively, due to lower operating income and a higher tax rate[14, 15] - Adjusted performance fees were $293.4 million, down from $382.8 million in the prior year[14] Strategic Initiatives - Specialist investment managers acquired since 2019 represent 64% of AUM and 55% of adjusted operating revenue[16, 17] - The company returned $946 million to shareholders through dividends and share repurchases, with cash and investments at $6.73 billion at year-end[14] - Fiduciary Trust International AUM has more than doubled in the past five years, growing from $16.9 billion to $39.3 billion[28]