Third quarter earnings are pouring in from mutual fund firms this week.
The Wall Street Journal
took note of yesterday's mutual fund family earnings reports: Franklin Resources
beat the analysts' expectations, and the company's profit rose 18 percent. AUM stands at $749.9 billion, up $90 billion from a year earlier.
Janus' profits were down
on $2 billion of net outflows. The firm's $209 million in total revenue beat the WSJ's analysts' expectations.
The Associated Press reported
that in Q3, Federated's
revenue increased 11 percent, to $238.5 million, on a decrease in money fund fee-waivers and improvement in money fund returns. AUM increased 3.5 percent from a year earlier, reaching $364.1 billion.
enjoyed its first quarter of positive net flows since 2007, and its profit "soared" 42 percent, Reuters reported
. Despite $5.7 billion of equity outflows and $3.8 billion of bond fund outflows, LM had a net positive flow of $200 million thanks to $9.7 billion that came into the firm's money market funds. Total AUM is $650.7 billion, up nearly $20 billion from the quarter before.
that WisdomTree Investments
third-quarter net income nearly tripled from a year earlier, and the firm earned $4.5 million in profit, compared to $1.4 million a year ago. Net inflows neared $1 billion for the New York-based ETF provider.
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