Meanwhile in their last quarters, Franklin Templeton reported $9.9 billion in long-term net outflows, while T. Rowe had $6.4 billion in net outflows.
Franklin Templeton reported Monday that assets under management fell 1% in the last quarter to $1.53 trillion. The company reported fiscal fourth-quarter adjusted earnings per share of $1.26, beating Wall Street’s consensus of 86 cents.
The transaction is expected close in the second fiscal quarter of 2022, Franklin Templeton said.
--With assistance from Annie Massa.
This article was provided by Bloomberg News.