Franklin Resources, which runs the Franklin Templeton mutual funds, announced today that its fourth-quarter net income in 2001 was $118.5 million, down 21% from 2000. However, that figure represents an increase of 41% over the firms third-quarter 2001 net income of $83.9 million.
The firms assets under management at the end of 2001 stood at $266.29 billion, up 17% from the end of 2000 when the firm managed $226.91 million, Franklin said. Fixed-income, money market and hybrid funds all had an increase in assets. Hybrid funds experienced the biggest jump moving from $10.1 billion at the end of 2000 to $38.6 billion at the end of 2001. Consequently, those funds now account for 14% of the Franklins total assets under management. Last year, they accounted for just 4%.