Franklin Resources managed to deliver a slight increase in profits for its fiscal fourth quarter ended Sept. 30. Profits rose 1.5% to $372.9 million, or $1.65 a share, from $367.4 million, or $1.59 a share, in the fourth quarter of fiscal 2009.

Revenue jumped 23% to $1.53 billion, which Franklin CEO Greg Johnson attributed to “strong global sales [that] led to long-term net new flow, combined with continued strong investment performance and the rebound in equity markets.”

Assets under management grew 23% to $644.9 billion, from $5232.4 billion a year ago.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access