Franklin Resources Assets Slip

July 11, 2002 -- Franklin Resources (BEN) said its assets under management declined 2.8% between May and June.

The company, the parent of the Franklin, Templeton and Mutual Series funds, said it was overseeing $270.7 billion on June 30, compared to $278.6 billion in May and $268 billion at the end of June 2001.

Franklin's stock assets dropped to $142.1 billion from $149.7 billion in the latest one-month period, while fixed income assets inched up $600 million to $83.3 billion. Assets managed in hybrid products, which invest in stocks and bonds, eased $900 million to $39.9 billion.

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