© Reuters. SUBMIT PHOTO: Jenny Johnson, President and CEO of Franklin Templeton, speaks throughout the Global Financial Leaders’ Investment Summit, in Hong Kong, China November 7, 2023. REUTERS/Tyrone Siu/File Photo
(Reuters) – Franklin Resources (NYSE:-RRB- reported higher-than-expected revenue for the very first quarter on Monday, thanks to strength in its equity and fixed-income items.
Shares of the financial investment supervisor, much better referred to as Franklin Templeton, inched up 0.6% in early trading.
Markets have actually rallied in the last couple of months due to firming bets of a soft landing, assisting properties under management (AUM) at equity financial investment items grow 11.5%.
In the San Mateo, California-based financial investment supervisor’s fixed-income items, AUM grew 3.4%. Such items normally bring lower charges than equity and options for Franklin.
Omitting one-time expenses, revenue was 65 cents per share for the 3 months ended Dec. 31, compared to price quotes of 57 cents per share, according to LSEG information.