SAN MATEO, Calif.--(BUSINESS WIRE)--Jan. 12, 2009--Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE:BEN)
today reported preliminary month-end assets under management by the
company's subsidiaries of $416.2 billion at December 31, 2008, compared
to $404.6 billion at November 30, 2008 and $643.7 billion at December
31, 2007.
ASSETS UNDER MANAGEMENT
Preliminary
(In billions) 31-Dec-08 30-Nov-08 30-Sep-08 30-Jun-08 31-Dec-07
Franklin Templeton
Investments:
Equity:
Global/international $142.6 $137.5 $190.3 $233.7 $286.1
Domestic (U.S.) 55.2 53.9 72.9 82.5 95.8
Total equity 197.8 191.4 263.2 316.2 381.9
Hybrid 78.8 75.3 93.9 109.5 116.4
Fixed-Income:
Tax-free 56.1 56.6 59.7 61.6 59.3
Taxable:
Global/international 45.9 43.9 52.7 54.3 48.3
Domestic (U.S.) 29.8 29.0 30.5 31.6 31.5
Total fixed-income 131.8 129.5 142.9 147.5 139.1
Money Market 7.8 8.4 7.3 7.0 6.3
Total $416.2 $404.6 $507.3 $580.2 $643.7
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(R) or visit franklintempleton.com.
Forward-Looking Statements:
The financial results in this press release are preliminary. Statements
in this press release regarding Franklin Resources, Inc. 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.
-- We are subject to extensive and often 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.
-- The amount or mix of our assets under management are subject to
significant fluctuations and could negatively impact our revenues and
income.
-- 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 and
other technology systems that are critical to our operations could
constrain our operations.
-- 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 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 we advise.
-- Diverse and strong competition limits the interest rates that we can
charge on consumer loans.
-- 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.
CONTACT: Franklin Resources, Inc.
Corporate Communications: Matt Walsh, 650-312-2245
Investor Relations: Brian Sevilla, 650-312-4091
franklintempleton.com
Source: Franklin Resources, Inc.