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Franklin Resources ( (BEN) ) just unveiled an update.
Franklin Resources, Inc., a major global asset manager, reported a preliminary net loss of $84.7 million for the fourth quarter of 2024, a significant drop from the previous year’s profits. Despite the challenging fiscal year, the company achieved record assets under management (AUM) of $1.68 trillion, with a notable increase in long-term inflows. Their acquisition of Putnam Investments has exceeded expectations, contributing to positive net flows and cost savings. The company remains focused on innovative client relationships and expanding into key growth areas, such as alternative and multi-asset investment strategies.
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