Franklin Resources Reports December 2025 AUM of $1.68 Trillion, Driven by Strong Long-Term Inflows
Franklin Resources, Inc., operating globally under the Franklin Templeton brand (NYSE: BEN), reported preliminary month-end assets under management (AUM) of $1.68 trillion as of December 31, 2025, marking a modest increase from $1.67 trillion at November 30, 2025.The month-over-month growth in AUM was primarily driven by robust long-term net inflows totaling $28 billion, which included $26 billion of reinvested distributions. These positive flows were partially offset by market movements, distributions, and other factors, as well as $1 billion in long-term net outflows at Western Asset Management, a fixed-income specialist majority-owned by Franklin Templeton. Excluding Western Asset Management, preliminary long-term net inflows for the month were $29 billion, highlighting continued client demand across the firm’s broader investment platform.
Quarterly AUM Performance
For the quarter ended December 31, 2025, Franklin Templeton’s preliminary AUM reflected long-term net inflows of $27 billion, inclusive of $29 billion in reinvested distributions. These inflows were partially offset by market impacts, distributions, and other activity, along with $7 billion in long-term net outflows at Western Asset Management. When excluding Western Asset Management, long-term net inflows for the quarter reached $34 billion.
Preliminary average AUM for the quarter was $1.67 trillion, underscoring relative stability in asset levels despite market volatility and selective outflows within certain fixed-income strategies.
Asset Class Breakdown
As of December 31, 2025, Franklin Templeton’s AUM reflected broad-based growth across several asset classes:
- Equity strategies totaled $696.7 billion, up from $695.0 billion in November 2025 and $620.0 billion a year earlier, reflecting steady appreciation and inflows.
- Fixed income AUM stood at $437.0 billion, largely stable compared with $436.6 billion in November, though down from $469.5 billion at December 2024.
- Alternative investments continued to expand, reaching $272.0 billion, up from $269.4 billion in the prior month and $248.8 billion year-over-year, driven by private markets, real assets, and hedge strategies.
- Multi-asset solutions grew to $200.0 billion, compared with $197.6 billion in November and $174.0 billion at the end of 2024, reflecting rising client interest in diversified outcome-oriented portfolios.
Total long-term AUM across equity, fixed income, alternatives, and multi-asset strategies reached $1.61 trillion, up from $1.60 trillion at November 30, 2025.
Cash management assets amounted to $76.5 billion, slightly higher than the prior month’s $76.0 billion and significantly above $63.4 billion at year-end 2024.
As a result, total ending AUM increased to $1.68 trillion, compared with $1.61 trillion at June 30, 2025 and $1.58 trillion at December 31, 2024.
Western Asset Management Update
As of December 31, 2025, Western Asset Management reported preliminary AUM of $217 billion, unchanged from November 30, 2025. Monthly results reflected positive market performance and $1 billion in cash management net inflows, which were partially offset by $1 billion in long-term net outflows. On a quarterly basis, Western Asset’s AUM benefited from favorable market conditions but was reduced by $7 billion in long-term net outflows and $2 billion in cash management net outflows.
Alternative Investments Accounting Change
Franklin Templeton also noted that preliminary alternative AUM at December 31, 2025 included $1 billion of aggregate realizations and distributions for the month and $4 billion for the quarter. Beginning in fiscal year 2026, the firm will change its reporting treatment for non-fee-generating uncalled capital commitments, which will now be included in long-term inflows at the time commitments are made, rather than being reflected within net market change, distributions, and other categories.
Outlook
Overall, Franklin Templeton’s December 2025 results highlight continued strength in long-term client inflows, particularly across equity, alternatives, and multi-asset strategies, while demonstrating resilience amid mixed market conditions and selective fixed-income outflows. The firm enters fiscal 2026 with a diversified global platform and sustained momentum in higher-growth investment areas.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in equity, fixed income, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience.
The company posts information that may be significant for investors in the Investor Relations and News Center sections of its website and encourages investors to consult those sections regularly.
