MANAGEMENT BRIEFS

MANAGEMENT BRIEFS

Like most money managers, Franklin Resources struggled during the bear market last summer, and the pain was evident in its financial results for the fourth quarter of its 1998 fiscal year, ended September 30. Technology costs were the sole bright spot in the company's income statement for the quarter. They showed only a modest uptick to $51.9 million compared to $48.7 million in the same quarter a year ago. For the year as a whole, Franklin's technology budget, jumped to $181.7 million compa