Franklin Resources, Inc. reported preliminary month-end assets under management (AUM) of $1.65 trillion at November 30, 2024, a decrease from $1.68 trillion at September 30, 2024. This month's AUM reflected the impact of positive markets, partially offset by significant long-term net outflows.
The firm experienced preliminary long-term net outflows of $13 billion for the month, with Western Asset Management (WAM) accounting for $12 billion of these outflows. WAM's preliminary AUM stood at $317 billion at month-end, indicating continued client withdrawals.
Despite positive market impacts, the persistent outflows from WAM remain a notable challenge for Franklin Resources. These outflows continue to affect the firm's overall asset base and highlight the ongoing impact of the issues surrounding the subsidiary.
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