Why Franklin Resources' Stock Price Dropped 30.4% in the First Half
Asset management firm Franklin Resources (NYSE: BEN) watched its stock price tumble 30.4% in the first half of 2022, according to data from S&P Global Market Intelligence.
The asset manager lagged the S&P 500, which fell 21.6% year to date through June 30, and the Dow Jones Industrial Average, which plummeted 15.3% in the first half of the year.
Franklin Resources, the 12th-largest asset manager in the U.S., fared about as well as other asset managers in the first half, given the market conditions. With the overall market dropping into a bear market, a company that runs mutual funds and institutional investments is going to see its asset levels drop in concert with the market. That, in turn, leads to less revenue via fees, which are based on asset levels, and lower fund flows.
Source Fool.com
