Franklin Templeton's quarterly profit rises on strong inflows, higher fees

Here are some details:

• Franklin Templeton's assets under management stood at $1.79 trillion at the end of the third quarter, up 11% from a year ago.
• The company's total investment management fees, the largest contributor to its total operating revenue, rose 14% to $1.87 billion during the quarter.
• Total long-term net inflows rose to $18.4 billion in the quarter.
• Inflows boost assets under management, helping managers earn steady fees even in weak or volatile markets.
• "We generated positive net flows across every asset class and geography," said CEO Jenny Johnson.
• The company also announced it will change its corporate name from Franklin Resources to Franklin Templeton effective as of August 17, 2026.
• Excluding one-time costs, the company earned $386.3 million, or 72 cents per share, compared with $263.4 million, or 49 cents per share, a year earlier.

July 31 (Reuters) - Investment manager Franklin Resources BEN.N, better known as Franklin Templeton, reported a jump in third-quarter profit on Friday, helped by strong inflows and higher fees.

Shares of the company, which have risen 38.8% so far this year, have outperformed the broader benchmark S&P 500 index.