Market appreciation lifting asset managers’ AUM despite persistent outflows and slower fundraising

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Franklin Resources, Cohen & Steers and Oppenheimer benefited from equity or real-estate appreciation that lifted client assets, while Artisan’s market gains more than offset a sharp acceleration in net outflows. Blue Owl continued expanding alternative credit and real assets but reported slower fundraising, and Franklin saw redemptions broaden even as Western Asset outflows moderated. The period’s AUM improvement therefore reflects stronger markets more consistently than stronger organic flows.

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