Despite swinging back to positive inflows last quarter, Franklin Resources
still disappointed some analysts and investors with its earnings results. Reuters
reports that the San Mateo, California-based mutual fund firm's shares fell 3.3 percent yesterday, even as the Dow Jones index of asset managers fell 1.2 percent. Yet Franklin's earnings of $2.32 per share beat analysts' expectations of $2.22, according to Thomson Reuters.
Franklin posted inflows of $5.6 billion in the second quarter which
ended March 31, below the $9 billion expected by Sandler O'Neill analyst Michael Kim
. Nomura Securities analyst Glenn Schorr
said the results were "good but not great."
Franklin's assets under management climbed to $724.7 billion by March 31.
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