Franklin Resources might consider big acquisition

BOSTON (Reuters) - Money manager Franklin Resources (BEN.N: Quote, Profile, Research, Stock Buzz) said it is keeping its eyes open for potentially attractive acquisitions and would consider making a large purchase if the conditions are right.

"In the right situation we would consider making a large purchase," an executive said on a telephone call with analysts on Thursday after the San Mateo, California-based company reported earnings.

Executives said they are always looking at what is available and would also consider buying assets at the right price. "That is something we would be interested in," the executive said. Franklin, which manages the Franklin and Templeton mutual funds, has $580.2 billion in assets.

The comments come at a time when several banks appear ready to spin off their asset management divisions to raise capital.

(Reporting by Svea Herbst-Bayliss; Editing by Tim Dobbyn)