Franklin Resources reported that its profit climbed 4.5% in the second quarter, while assets under management rose both from the first-quarter and year-earlier totals.
Its net income reached $131.4 million, or 52 cents a share, compared with $125.7 million and 48 cents the year earlier, the mutual fund company said. Net income in the first quarter was $109.6 million, or 43 cents a share. Assets under management reached $287 billion as of the end of June, up 6.1% from a year earlier.
Sales exceeded redemptions by $6 billion in the quarter, compared with $4.5 billion the year before. Revenue rose 2.7%, to $683.9 million.
Equities made up half the companys assets under management at June 30, up from 47% at March 31 and down from 53% a year earlier.