Franklin Resources Inc saw its fiscal second quarter earnings drop 11%, marking this the first decrease in three years. The Franklin Templeton Investments subsidiary explains that the decline is a result of bringing back profit from oversees and decreasing the value of assets at one of the firm's trust units, according to the Los Angeles Times.

The firm's net income went down to $196.5 million in the quarter ending March 31 from $221.3 million in same period a year earlier.

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