Despite swinging back to positive inflows last quarter, Franklin Resources still disappointed some analysts and investors with its earnings results. Reuters reports that the San Mateo, California-based mutual fund firm's shares fell 3.3 percent yesterday, even as the Dow Jones index of asset managers fell 1.2 percent. Yet Franklin's earnings of $2.32 per share beat analysts' expectations of $2.22, according to Thomson Reuters.

Franklin posted inflows of $5.6 billion in the second quarter which ended March 31, below the $9 billion expected by Sandler O'Neill analyst Michael Kim. Nomura Securities analyst Glenn Schorr said the results were "good but not great."

Franklin's assets under management climbed to $724.7 billion by March 31. 

Edited by: HFD


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