Franklin Resources and Alliance Capital Tuesday both reported assets as of the end of July, indicating modest increases from the month prior, but relatively sizable gains from year-ago comparable periods.
Franklins assets rose to $289.8 billion from $287 billion as of the end of June. Compared to July 2002, however, the firms assets rose 12% from $257.9 billion.
Alliances assets rose to $427 billion at the end of July, barely up from $426 billion the month prior. But compared to the year-ago period, Alliance posted a 9.7% increase from $389 billion.
As in previous quarters, Franklin issued a statement along with its figures noting that continued weak market conditions may cause its assets to continue to fluctuate. That along with stiff competition and changes in distribution channels could cause an adverse business climate, Franklin said.