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Wednesday, April 28, 2010

Franklin's Earnings and Flows Rise

News summary by MFWire's editors

Franklin Resources boosted both its earnings and net flows last quarter. This morning the San Mateo, California-based parent of Franklin Templeton revealed that it earned $1.55 per diluted share in the quarter ended March 31, 2010 (which counts as Franklin's second quarter), more than tripling from $0.47 in Q2 2009. That just missed analysts' estimate of $1.56, Reuters reports.

Meanwhile, Franklin's net flows rose to inflows of $17.4 billion in Q2 2010, from inflows of $14.3 billion for Q1 2010 and outflows of $5.5 billion for Q2 2009. The mutual fund firm boasted assets under management of $586.8 billion on March 31, 2010. 

Edited by: Neil Anderson, Managing Editor

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