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Franklin Resources, Inc. - BEN STOCK NEWS

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Franklin Resources, Inc. (NYSE: BEN), commonly known as Franklin Templeton, is a prominent global investment management organization. With more than 75 years of expertise, Franklin Templeton delivers a suite of investment services aimed at both individual and institutional investors. As of April 2024, the company oversees $1.602 trillion in managed assets, comprising 35% equity, 35% fixed-income, 10% multi-asset/balanced funds, 16% alternatives, and 4% money market funds.

Franklin Templeton is renowned for its diverse portfolio and global reach, with more than a third of its assets under management (AUM) invested in international strategies. Furthermore, approximately 30% of managed assets are sourced from clients outside the United States. The company's client base is balanced between retail investors at 52% and institutional accounts at 46%, with high-net-worth individuals accounting for the remainder.

Recently, the company's subsidiary, ClearBridge Investments, released its seventh annual Stewardship Report, highlighting its commitment to environmental, social, and governance (ESG) factors. With $188 billion in assets under management, ClearBridge actively integrates ESG considerations into its investment process, promoting sustainable practices and responsible investing. In 2023, ClearBridge earned top scores in the U.N.-supported Principles for Responsible Investment (PRI) reporting assessment and joined the Interfaith Center on Corporate Responsibility's Living Wage Statement, advocating for fair wages in line with international human rights standards.

Franklin Templeton's dedication to ESG is further exemplified through ClearBridge's active ownership and engagement strategies. In 2023, ClearBridge voted on over 15,000 shareholder proposals and engaged with more than 1,000 companies to drive positive change. The firm's commitment to diversity and inclusion is also noteworthy, with strong representation of women and people of color among its staff and investment teams.

Franklin Templeton continues to advance the U.N. Sustainable Development Goals (SDGs) through various philanthropic efforts. ClearBridge's partnership with WaterAid since 2013 has improved clean water accessibility in Timor-Leste, directly supporting SDG 6: Clean Water and Sanitation.

With a mission to help clients achieve better outcomes through specialized investment management and wealth management solutions, Franklin Templeton operates with a global presence in over 150 countries. The company leverages its extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions to serve a diverse clientele, bolstered by a team of over 1,500 investment professionals stationed in major financial markets worldwide.

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Franklin Resources [NYSE: BEN] will announce its third-quarter results on July 26, 2024, at 8:30 a.m. ET. The company will provide a written commentary on the results via its investor relations website at the same time. A live teleconference hosted by key executives, including CEO Jenny Johnson, will follow at 11:00 a.m. ET to address investor and analyst questions. The teleconference can be accessed through the company's website or by dialing specific numbers provided for North America and other locations. A replay will be available until August 2, 2024. Investors are recommended to review recent SEC filings and contact Investor Relations for any additional questions.

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Franklin Resources, also known as Franklin Templeton (NYSE: BEN), reported its preliminary month-end assets under management (AUM) for June 30, 2024, at $1.65 trillion. This marks a slight increase from $1.64 trillion on May 31, 2024. The uplift is attributed to positive market impacts and stable long-term net inflows. Over the quarter ending June 30, 2024, the AUM benefited from positive market effects but faced a net outflow of $3.2 billion, which included $5.9 billion of inflows from Great-West Lifeco in April. Detailed AUM by asset class for June 30, 2024, includes $595 billion in equities, $564.5 billion in fixed income, $254.5 billion in alternatives, and $168.1 billion in multi-asset investments. Cash management AUM stood at $64.5 billion.

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Fiduciary Trust International announced that Freda Lam Zietlow, CFA, has been recognized as one of the '100 Most Influential Women of 2024' by the Silicon Valley Business Journal. Freda Zietlow, who serves as managing director and senior portfolio manager at Fiduciary Trust, a subsidiary of Franklin Templeton, was honored for her significant contributions to the wealth management industry and her community engagement. This nomination highlights her leadership and influence within Silicon Valley.

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Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) announced its estimated sources of distributions for June 2024 and the fiscal year-to-date. As of May 31, 2024, the distribution per share for June is $0.0605, fully derived from net investment income. Year-to-date, the distribution per share is $0.3630, also entirely from net investment income. The Fund highlights that these distributions may include a return of capital. Average annual total return for the five-year period ending May 31, 2024, is 1.84%, with an annualized distribution rate of 7.32% and a cumulative total return of 3.70%. The Fund's managed distribution policy aims to provide consistent monthly payouts, which may include net investment income, realized capital gains, and return of capital. Shareholders will receive Form 1099-DIV for tax reporting. The Fund's Board may alter the distribution policy, impacting share prices.

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Franklin Templeton has launched a suite of tax-managed separately managed account (SMA) strategies on UBS Wealth Management’s platforms, leveraging Canvas Custom Indexing to improve after-tax returns. This includes new offerings from ClearBridge Investments and Franklin Managed Options Strategies (Franklin MOST) team. The active and passive SMA strategies provide personalized portfolio solutions with digital account management. Franklin Templeton aims to enhance its presence in the SMA market, boasting over $137 billion in SMA assets as of March 31, 2024, and is committed to delivering innovative solutions for advisors catering to high-net-worth clients.

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Fiduciary Trust International, a subsidiary of Franklin Templeton, has welcomed Laura C. Pease and James T. Farmer to its Atlanta office. Both are seasoned professionals from Bank of America Private Bank, with Pease joining as managing director and senior trust officer and Farmer as managing director and senior portfolio manager. Their addition enhances Fiduciary Trust International's strategy to expand its presence in the Southeast region. Pease brings over three decades of industry experience, including leadership roles at Bank of America, Wachovia Bank, and Truist. Farmer has over 15 years of experience in investment advisory, having previously worked at Calibre Family Office and Offitbank. This move aligns with Fiduciary Trust International's mission to deliver superior wealth management solutions and build its brand in key growth markets.

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Franklin Templeton has released its annual Corporate Social Responsibility (CSR) Report for fiscal year 2023. The report highlights the firm's efforts in six key areas: stewardship and sustainable investing, environment, diversity, equity, and inclusion (DE&I), employee experience, community engagement, and responsible corporate practices.

The CSR report also includes sustainability data in accordance with the Sustainable Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) frameworks.

The full report is available on the Corporate Social Responsibility page of the Franklin Resources website.

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Franklin Templeton has completed the reorganization of the ClearBridge All Cap Growth ESG ETF (CACG) into the ClearBridge Large Cap Growth ESG ETF (LRGE).

This reorganization involved transferring nearly all assets of CACG to LRGE, with CACG shareholders receiving LRGE shares equivalent to the net asset value of their CACG investments as of June 14, 2024.

Approved by the funds' boards of trustees on February 29, 2024, the reorganization did not require shareholder approval. LRGE focuses on long-term capital appreciation by investing in large-cap companies with strong ESG attributes and the potential for significant earnings growth.

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Fiduciary Trust International, a wealth management firm and subsidiary of Franklin Templeton, has appointed Erica B. Landeros as trust counsel in their New York office. Landeros brings extensive experience in estate planning, tax planning, and trust administration, having previously served as managing director and regional fiduciary advisor at Bank of America Private Bank. Her role will focus on strengthening holistic estate and wealth transfer plans for clients in the Greater New York region. This appointment follows other recent hires aimed at expanding the firm's New York headquarters.

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Franklin Templeton Institute's latest Global Investment Management Survey reveals increased optimism among professional investors regarding the U.S. economy, citing a strong stock market, declining inflation, low unemployment, and strong corporate balance sheets.

The survey, conducted in May, involved over 250 senior investment professionals from various global teams. Key findings include expectations of 2.3% GDP growth in 2024, stable inflation at around 2.9%, and low unemployment rates. The Federal Reserve is expected to make one or two interest rate cuts instead of four as previously predicted.

Internationally, respondents are more positive about Europe's economic growth and predict that India, Japan, and China will outperform the U.S. equity market in 2024.

Despite the positive outlook, respondents note that the S&P 500 Index is considered expensive with upside. Favored sectors include technology, industrials, energy, health care, and financials. Fixed income investments are expected to hinge on Fed policies and geopolitical factors. Alternative investments like private equity and real estate debt also remain attractive.

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FAQ

What is Franklin Resources, Inc.?

Franklin Resources, Inc. (NYSE: BEN), also known as Franklin Templeton, is a global investment management organization managing a diverse range of assets and serving individual and institutional investors worldwide.

How many assets does Franklin Templeton manage?

As of April 2024, Franklin Templeton manages $1.602 trillion in assets, including equity, fixed-income, multi-asset, alternatives, and money market funds.

What types of clients does Franklin Templeton serve?

Franklin Templeton serves both retail investors (52% of AUM) and institutional accounts (46% of AUM), with high-net-worth clients accounting for the remaining portion.

What is the focus of ClearBridge Investments?

ClearBridge Investments, a subsidiary of Franklin Templeton, focuses on integrating environmental, social, and governance (ESG) factors into its investment process to promote sustainable practices and responsible investing.

How does Franklin Templeton contribute to ESG initiatives?

Franklin Templeton, through ClearBridge Investments, actively engages in ESG initiatives by voting on shareholder proposals, engaging with companies, and participating in efforts like the U.N. Sustainable Development Goals and WaterAid projects.

What are some recent achievements of ClearBridge Investments?

In 2023, ClearBridge earned top scores in the U.N.-supported Principles for Responsible Investment (PRI) reporting assessment, joined the Interfaith Center on Corporate Responsibility's Living Wage Statement, and enhanced its ESG policies.

Where does Franklin Templeton operate?

Franklin Templeton operates in over 150 countries, with offices in major financial markets worldwide, providing a global reach for its investment services.

How does Franklin Templeton ensure diversity and inclusion?

Franklin Templeton promotes diversity and inclusion by maintaining strong representation of women and people of color among its workforce, with ongoing efforts to increase diversity within its investment teams.

What is the mission of Franklin Templeton?

The mission of Franklin Templeton is to help clients achieve better outcomes through specialized investment management, wealth management, and technology solutions.

How does Franklin Templeton support the U.N. Sustainable Development Goals (SDGs)?

Franklin Templeton supports the U.N. SDGs through active public equity ownership and philanthropic efforts, such as its partnership with WaterAid to improve clean water accessibility in Timor-Leste.

Franklin Resources, Inc.

NYSE:BEN

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