Franklin Resources Inc Stock Price, News & Analysis

Franklin Resources (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1.63 trillion at October 31, 2024, down from $1.68 trillion in September 2024. The decrease was attributed to negative markets and long-term net outflows of $18.5 billion, including $17.8 billion from Western Asset Management. By asset class, Equity stood at $618.2B, Fixed Income at $524.6B, Alternative at $247.9B, Multi-Asset at $174.4B, and Cash Management at $65.6B. Western Asset Management's AUM decreased to $328.3B from $353.3B in September.

Clarion Partners has achieved LEED certification for over 100 industrial projects, totaling more than 35 million square feet under the USGBC's LEED Volume Program. The company developed a LEED Volume prototype in 2021 with Argento/Graham for certifying new developments more efficiently and cost-effectively. The program focuses on low-emitting materials, energy and water efficiency, and solar readiness. A notable example is the Manassas Logistics Center's Phase 1, which received LEED-Silver certification, featuring two buildings totaling 337,046 square feet with energy-efficient features and 41 acres of preserved ecological land.

Franklin Resources reported a preliminary net loss of $84.7 million ($0.19 per share) for Q4 2024, compared to net income of $174.0 million in the previous quarter and $295.5 million year-over-year. The company recorded a $389.2 million impairment charge related to Western Asset Management mutual fund contracts. Total AUM reached $1.68 trillion, up 22% year-over-year, with long-term net outflows of $32.6 billion. The Putnam Investments acquisition exceeded expectations, growing AUM by 21% to $180 billion since closing. The company returned $946 million to shareholders through dividends and share repurchases.

Franklin Templeton has appointed George Stephan as Global Chief Operating Officer of Wealth Management Alternatives, a newly created position. Reporting to EVP Adam Spector, Stephan will oversee alternative investments product innovation, investor services, and assist with business development. The firm manages $264 billion in alternative assets, representing 16% of its $1.65 trillion total AUM as of June 30, 2024. Stephan joins from KKR, where he served as Head of Strategy and Business Development for Global Client Solutions. The appointment aims to strengthen Franklin Templeton's position as a leading provider of alternative wealth solutions globally.

Western Asset Inflation-Linked Opportunities & Income Fund [NYSE: WIW] has announced its distribution details for October 31, 2024. The Fund will distribute $0.0605 per share, sourced entirely from net investment income. The fiscal year-to-date distribution totals $0.6050 per share. The Fund's performance metrics show a 2.22% average annual total return over the five-year period and an 8.28% cumulative total return for the fiscal period through September 30, 2024. The annualized distribution rate stands at 7.18% of NAV. The Fund maintains a managed distribution policy aimed at delivering long-term total return potential through regular monthly distributions.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1.68 trillion at September 30, 2024, unchanged from August 31, 2024. The company experienced long-term net outflows of $22.4 billion, including $27.9 billion from Western Asset Management, partially offset by positive market impact. For the quarter ended September 30, 2024, AUM benefited from positive markets but was affected by long-term net outflows of $31.3 billion, including $37.0 billion from Western Asset Management.

The AUM breakdown by asset class as of September 30, 2024, was: Equity ($632.1 billion), Fixed Income ($556.4 billion), Alternative ($249.9 billion), Multi-Asset ($176.2 billion), and Cash Management ($64.0 billion). Western Asset Management's AUM decreased from $376.8 billion to $353.3 billion, reflecting significant outflows and market impacts.

Franklin Resources, Inc. (NYSE:BEN) has announced it will release its fourth quarter and fiscal year 2024 operating results on Monday, November 4, 2024 at approximately 8:30 a.m. Eastern Time. A written commentary will be available on the company's investor website simultaneously. At 11:00 a.m. Eastern Time, a live teleconference will be held featuring Jenny Johnson (President and CEO), Matthew Nicholls (Executive Vice President, CFO and COO), and Adam Spector (Executive Vice President - Global Advisory Services and Head of Global Distribution) to answer questions.

The teleconference can be accessed via the company's investor website or by dialing specific numbers for North America and other locations. A replay will be available until November 10, 2024. Analysts and investors are advised to review recent SEC filings and contact Investor Relations for any clarifications before the teleconference.

Franklin Templeton has expanded its partnership with Envestnet to deliver its Canvas Custom Indexing platform to Envestnet's extensive client base of advisors. Canvas, a web-based platform, enables advisors to create personalized and tax-managed portfolios for their clients. This integration is part of a previously announced strategic partnership between the firms.

The platform will be available to advisors across banks, wealth management firms, brokerages, and RIAs. It offers tax management capabilities and goes beyond traditional Direct Indexing, providing advisors with more investment solutions and tools to scale their businesses.

Franklin Templeton, a leading SMA provider with approximately $140 billion in SMA assets under management as of June 30, 2024, including $9 billion on the Canvas platform, views this partnership as a milestone in bringing high-net-worth capabilities to mass affluent investors.

Franklin Templeton and Clarion Partners are celebrating the five-year anniversary of the Clarion Partners Real Estate Income Fund Inc. (CPREX), a closed-end tender offer fund providing individual investors access to institutional-quality private real estate. CPREX focuses on stable, cash flow-producing properties in U.S. markets with favorable growth prospects, with 89% of its portfolio in industrial warehouse, rental housing, and healthcare-related properties.

The fund has experienced continued net inflows during a period of slow real estate fundraising, allowing for new property acquisitions. Clarion Partners, CPREX's sub-adviser, manages over $74 billion in real estate assets as of June 30, 2024. The fund's strategy balances income and long-term capital appreciation, investing in both real estate private equity and private debt.

Franklin Templeton's alternatives business, including Clarion, represents approximately 16% of the firm's $1.65 trillion in assets under management. The alternative investment market has seen significant growth, with U.S. registered funds investing in private equity, private credit, and real estate nearly tripling from $110.6 billion in 2016 to $299.3 billion in 2023.