Franklin Resources, Inc. Announces Month-End Assets Under Management
January 13 2004 - 2:00AM
UK Regulatory
Franklin Resources Inc
Franklin Resources, Inc. (Franklin Templeton Investments) (NYSE: BEN) today
reported preliminary month-end assets under management by the company's
subsidiaries of $336.7 billion for the month ended December 31, 2003, compared
to $322.0 billion in the preceding month and $257.7 billion in the same month a
year ago.
ASSETS UNDER MANAGEMENT
Preliminary
(In billions) Dec-03 Nov-03 Sep-03 Jun-03 Dec-02
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Franklin Templeton Investments:
Equity:
Global/international $118.5 $109.7 $ 99.8 $ 91.6 $ 81.4
Domestic 63.6 61.3 55.4 50.7 43.5
------ ------ ------ ------ ------
Total Equity 182.1 171.0 155.2 142.3 124.9
------ ------ ------ ------ ------
Hybrid/Balanced 51.1 48.5 45.8 42.8 38.3
Fixed-Income:
Tax-free 52.4 52.2 52.2 53.6 52.1
Taxable:
Domestic 32.2 31.8 31.1 31.4 27.3
Global/international 13.1 12.9 11.8 10.9 9.1
------ ------ ------ ------ ------
Total Fixed-Income 97.7 96.9 95.1 95.9 88.5
------ ------ ------ ------ ------
Money Market 5.8 5.6 5.8 6.0 6.0
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Total $336.7 $322.0 $301.9 $287.0 $257.7
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Franklin Templeton Investments provides global and domestic investment
management services to its Franklin, Templeton, Mutual Series, Fiduciary, and
other sponsored investment products. Additional information about the company's
Canadian open-end mutual fund assets and net inflows and outflows will be
available on the Investment Funds Institute of Canada web site (ific.ca) on
approximately the 15th of each month as part of a Canadian industry-wide release
of monthly statistics. The San Mateo, CA-based company has over 50 years of
investment experience. For more information, please visit franklintempleton.com
or call 1-800/DIAL BEN(R).
Forward-Looking Statements:
Statements in this press release regarding Franklin Resources, Inc.'s business,
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 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, the "Risk Factors" section of the 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,
2003.
-- Volatility in the equity markets may cause the levels of our assets
under management, which in turn impacts revenues, to fluctuate
significantly.
-- Weak market conditions may lower our assets under management and reduce
our revenues and income.
-- We face strong competition from numerous and sometimes larger companies.
-- Changes in the distribution channels on which we depend could reduce our
revenues or hinder our growth.
-- We face risks associated with conducting operations in numerous foreign
countries.
-- Certain of the portfolios we manage, including our emerging market
portfolios, and related revenues are vulnerable to market-specific
political or economic risks.
-- Our ability to meet cash needs depends upon certain factors, including
our asset value, credit worthiness and the market value of our stock.
-- Technology and operating risk and limitations could constrain our
operations.
-- Governmental investigations and regulatory or legislative actions and
reforms, particularly those specifically focused on the mutual fund
industry, could adversely impact our assets under management and
revenues, increase costs or otherwise negatively impact the
profitability of the company and future financial results.
CONTACT: Franklin Resources, Inc.
Holly Gibson Brady, 650-312-4701 (Corp. Communications)
Alan Weinfeld, 650-525-8900 (Investor Relations)
franklintempleton.com