* EPS $1.55, vs Wall St view $1.56
* Quarterly profit more than triples
* Assets under management up 50 pct
* Stock price up modestly (Adds stock price, details on earnings)
BOSTON, April 28 (Reuters) - Franklin Resources Inc (BEN.N) said on Wednesday that its quarterly profit more than tripled as investors put billions of dollars into the money manager’s global portfolios.
As one of the biggest publicly traded U.S. fund management companies, Franklin has benefited from recovering stock markets but it has also managed to woo investors more successfully than many rivals with its range of international offerings, analysts said.
The company, which manages the popular Franklin Income Fund and Templeton Global Bond Fund, took in $17.4 billion in new cash during the quarter, significantly more than rivals like T. Rowe Price Group (TROW.O), which pulled in $10.3 billion during the quarter.
The bulk of new money went into Franklin’s global and international taxable fixed-income funds.
Franklin’s shares were up up 72 cents at $113.69 while other asset managers also posted small gains.
Franklin’s inflows helped boost net income to $356.7 million or $1.55 a share, during its fiscal second quarter that ended on March 31. A year ago the San Mateo, California-based company reported $110.8 million, or 47 cents a share.
Wall Street analysts forecast earnings of $1.56 per share according to Thomson Reuters I/B/E/S.
New inflows helped push total assets under management to $586.8 billion, the company said in a statement.
A year ago, Franklin saw outflows of $5.5 billion and in the last quarter the company took in $14.3 billion in new money.
A 51 percent jump in fees earned for managing money plus a 63 percent gain in underwriting and distribution fees, pushed total revenue up 55 percent to $1.4 billion. Analysts had expected revenue of $1.43 billion. (Reporting by Svea Herbst-Bayliss, editing by Dave Zimmerman)