Franklin Resources hits $1.68 trillion in assets as retail inflows counter fixed-income headwinds

Franklin Resources (NYSE:BEN), the global investment giant operating as Franklin Templeton, reported a slight uptick in preliminary assets under management (AUM) to $1.68 trillion as of December 31, 2025.

The results cap a complex quarter defined by robust organic growth in equity and alternatives, even as its Western Asset Management unit continued to grapple with institutional fixed-income outflows.

Total AUM rose from $1.67 trillion at the end of November, bolstered by $28 billion in long-term net inflows for the month.

This figure was heavily supported by $26 billion in reinvested distributions, reflecting strong year-end payout activity across its mutual fund complex.

For the full quarter, Franklin Templeton saw $27 billion in long-term net inflows, maintaining a steady average AUM of $1.67 trillion despite broader market volatility.

A persistent drag on the firm’s performance remains its subsidiary, Western Asset Management, which reported $1 billion in long-term net outflows in December, bringing its total quarterly bleed to $7 billion.

Stripping out Western Asset, the rest of Franklin Templeton’s business demonstrated significant momentum, generating $34 billion in long-term net inflows for the quarter, led by its expanding alternatives and multi-asset platforms.