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.

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