Franklin Resources, Inc. (Franklin Templeton) (NYSE:BEN) today reported preliminary month-end assets under management (AUM) of $1.46 trillion at December 31, 2023, compared to $1.41 trillion at November 30, 2023. This month's increase in AUM reflected the impact of positive markets and long-term net inflows.

For the quarter ended December 31, 2023, AUM reflected the positive impact of markets, partially offset by long-term net outflows of $5.0 billion, which include $10.8 billion of reinvested distributions.

On January 1, 2024, Franklin Templeton completed the acquisition of Putnam Investments. Putnam had total AUM of $148 billion¹ as of December 31, 2023, which is not reflected in the table below.

By Asset Class:
(In USD billions)	Preliminary
	31-Dec-23	30-Nov-23	30-Sep-23	30-Jun-23	31-Dec-22
Fixed Income	$511.7	$494.9	$483.1	$505.1	$494.8
Equity	467.5	447.9	430.4	458.0	419.1
Alternative	256.2	257.5	254.9	257.2	257.4
Multi-Asset	154.6	148.9	145.0	148.3	141.4
Long Term:	1,390.0	1,349.2	1,313.4	1,368.6	1,312.7
Cash Management	65.5	63.2	60.8	62.9	75.0
Total	$1,455.5	$1,412.4	$1,374.2	$1,431.5	$1,387.7

¹Excludes AUM from PanAgora, which was not a party to the transaction.

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 fixed income, equity, alternatives, and multi-asset solutions. With more than 1,300 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. For more information, please visit investors.franklinresources.com.

Forward-Looking Statements

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These and other risks, uncertainties and other important factors are described in more detail in our recent filings with the U.S. Securities and Exchange Commission, including, without limitation, in Risk Factors and Management's Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the fiscal year ended September 30, 2023 and our subsequent Quarterly Reports on Form 10-Q. If a circumstance occurs after the date of this press release that causes any of our forward-looking statements to be inaccurate, whether as a result of new information, future developments or otherwise, we undertake no obligation to announce publicly the change to our expectations, or to make any revision to our forward-looking statements, to reflect any change in assumptions, beliefs or expectations, or any change in events, conditions or circumstances upon which any forward-looking statement is based, unless required by law.

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