Franklin Shares Rise as $12.4 Billion Flows Into Alternatives

Franklin Resources Inc. took in about $12.4 billion for alternative investments in the first three months of the year, as clients withdrew cash from its stock and bond funds.

The haul accounts for about three-quarters of all the net money flowing into the asset manager and shows how much the $1.7 trillion firm is relying on private equity, private credit and real estate to boost revenue. That metric beat analyst estimates at $2.3 billion in the period and rose 9% from a year ago, the company said on Tuesday.