Franklin Resources AUM Tracking Inline With Sterne Agee Model

Sterne Agee reports that Franklin Resources, Inc.'s (NYSE: BEN) AUM is tracking inline with its model.

“While AUM declined in November, with solid equity markets through the early part of December, results are still tracking well versus the assumptions embedded in our model,” Sterne Agee writes.

“Our fiscal 1Q11 estimate is based on average AUM of $652 billion and our forward estimates based on ending AUM of $659 billion. Through the first two months of the quarter we estimate average AUM of roughly $651 billion.”

Franklin Resources currently trades at $117.13.