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Valued at a market cap of $13.2 billion, Franklin Resources, Inc. (BEN) is a publicly owned asset management holding company that provides its services to individuals, institutions, pension plans, trusts, and partnerships. The San Mateo, California-based company offers a range of mutual funds, including equity, fixed income, balanced, and multi-asset strategies. It invests across public equity, fixed income, and alternative markets.
This asset management company has underperformed the broader market over the past 52 weeks. Shares of BEN have gained 14.9% over this time frame, while the broader S&P 500 Index ($SPX) has surged 18.4%. Nonetheless, on a YTD basis, the stock is up 23.9%, outpacing SPX’s 7.6% return.