BEN's February AUM Rises on Positive Markets: Will the Upside Last?

Franklin Resources, Inc. BEN reported preliminary assets under management (AUM) of $1.74 trillion as of Feb. 28, 2026, reflecting a 1.7% increase from the prior month. The rise was primarily driven by the positive impact of markets and long-term net inflows of approximately $10 billion, inclusive of nearly $1 billion of long-term net outflows at Western Asset Management.

The company witnessed sequential growth across major asset classes. Equity assets rose 1.8% from the previous month to $721.8 billion, while fixed income AUM increased nearly 1% to $443.9 billion and alternative AUM grew 1.1% to $278.4 billion. Multi-asset AUM also climbed 3% to $210.7 billion, with cash management balances rising 6.3% from the prior month to $80.9 billion.

Over the years, Franklin has been witnessing solid growth in its AUM balance. While the metric declined in fiscal 2022 and fiscal 2025, it recorded a compound annual growth rate (CAGR) of 3.1% over the last five fiscal years (ended fiscal 2025). The upward trend has continued into the first quarter of fiscal 2026.

Franklin has also been enhancing its asset management platform through acquisitions and strategic partnerships. In October 2025, it completed the acquisition of Apera Asset Management, a pan-European private credit firm with more than $5.4 billion in AUM, expanding its alternative credit platform and increasing total alternatives AUM to nearly $270 billion. Earlier, in September 2025, the company partnered with Copenhagen Infrastructure Partners, DigitalBridge and Actis to expand private infrastructure offerings for wealthy clients.

The company has also taken steps to broaden its distribution and investment capabilities. In July 2024, it partnered with Japan’s SBI Holdings to expand its exchange-traded fund (ETF) and digital asset capabilities. Further, the January 2024 acquisition of Putnam Investments accelerated BEN’s retirement business by lifting defined contribution AUM to more than $100 billion. Earlier acquisitions, including Alcentra and Lexington, have strengthened its presence in separately managed accounts while expanding capabilities across private debt, real estate, hedge funds and private equity.

The company’s growing focus on alternative assets and multi-asset solutions, along with its regionally focused distribution model that is driving favorable non-U.S. net flows, is expected to support AUM growth. With strategic acquisitions and a diversified investment platform, Franklin remains well placed to deliver sustained expansion.

BEN’s Competitors Witnessing AUM Growth

Franklin’s peers, including T. Rowe Price TROW and Lazard LAZ, have also been witnessing steady AUM growth.

T. Rowe Price reported preliminary assets under management of $1.80 trillion for January 2026, reflecting a 1.2% sequential increase despite net outflows of $5.2 billion. The company’s diversified AUM across asset classes, client bases and geographies supports sustainable earnings. Over the past five years (2020-2025), T. Rowe Price’s AUM recorded a CAGR of 6.5%, driven by market appreciation and continued strength in multi-asset and fixed-income products. Additionally, 54% of its U.S. mutual funds’ AUM outperformed the Morningstar median, while 33% outperformed the passive peer median. A strong brand, consistent investment track record, and healthy business volumes are expected to keep supporting AUM growth in the upcoming period.

Similarly, Lazard reported a preliminary AUM of $266.9 billion for January 2026, up 4.9% sequentially, primarily driven by market appreciation of $7.6 billion, foreign exchange gains of $2.1 billion and net inflows of $2.9 billion. Over the past eight years (2016-2025), Lazard’s AUM recorded a CAGR of 2.8%, despite declines in 2022 due to a challenging macroeconomic environment. The company’s strategic acquisitions, including Truvvo Partners in March 2023, and partnerships with Elaia Partners in Paris, along with initiatives such as Lazard Elaia Capital in Europe, have supported growth across private markets, alternative investments, and wealth management solutions. Strong client engagement and continued demand across investment platforms are expected to sustain Lazard’s AUM growth going forward.

BEN's Price Performance and Zacks Rank

Over the past six months, BEN shares have gained 6.8% against the industry’s decline of 16.9%.

Franklin currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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