WRAPUP 2-Profits jump at fund managers Franklin, Invesco

* Quarterly profits triple at Franklin, Invesco

* Recovering markets and new demand boost assets

* Invesco shares up 4 pct, Franklin up over 1 pct
(Adds closing share prices)

BOSTON, April 28 (BestGrowthStock) – Money managers Franklin
Resources Inc (BEN.N: ) and Invesco Ltd (IVZ.N: ) saw quarterly
profits triple as recovering markets and new demand for their
stock and bond funds helped boost assets.

Franklin, which manages the popular Franklin Income Fund
and Templeton Global Bond Fund, said on Wednesday that it took
in $17.4 billion in new cash during the quarter while investors
added $3.7 billion to Invesco’s long-term funds.

Stronger stock markets have persuaded investors to slowly
put money to work again, shifting from low-yielding money
market funds into longer-dated fixed income and equity funds.

But as demand picks up again, investors are differentiating
more than ever between geographic regions, preferring to put
the bulk of money into foreign-oriented funds like those
managed by San Mateo, California-based Franklin.

Franklin’s inflows helped boost net income to $356.7
million or $1.55 a share, during its fiscal second quarter that
ended on March 31. A year ago, the company reported $110.8
million, or 47 cents a share.

Wall Street analysts forecast earnings of $1.56 per share
according to Thomson Reuters I/B/E/S.

New inflows helped push total assets under management to
$586.8 billion, the company said in a statement.

At Atlanta-based Invesco, assets under management at the
end of the quarter totaled $419.6 billion, down slightly from
the end of 2009 but up 21 percent from a year earlier.
Customers withdrew a net $10.6 billion from institutional money
market funds and added $3.7 billion to long-term funds. Foreign
exchange movements reduced reported assets under management by
$4.4 billion.

Invesco, now completing the purchase of Morgan Stanley’s
(MS.N: ) mutual fund unit, which managed $123 billion at the end
of March, said net income jumped to $95 million, or 21 cents
per share, from $31 million, or 8 cents a share, a year
earlier.

Shares of Invesco gained 4.3 percent to close at $21.61 on
the New York Stock Exchange. Franklin shares ended up 1.1
percent at $114.20.

Stock Market Investing

(Reporting by Svea Herbst-Bayliss and Aaron Pressman; Editing
by Tim Dobbyn, Bernard Orr)

WRAPUP 2-Profits jump at fund managers Franklin, Invesco