Franklin Resources Inc Stock Price, News & Analysis

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.

Franklin Resources, known as Franklin Templeton, reported a preliminary month-end assets under management (AUM) of $1.64 trillion at May 31, 2024. This marks an increase from $1.60 trillion at April 30, 2024. The rise in AUM is attributed to positive market impacts, despite modest long-term net outflows.

By asset class, the AUM figures are as follows (in USD billions): Equity at $583.9, Fixed Income at $563.6, Alternative at $256.9, and Multi-Asset at $166.9. The total long-term AUM is $1.571 trillion, while Cash Management accounts for $64 billion. Comparatively, the total AUM was $1.455 trillion at December 31, 2023, and $1.404 trillion at May 31, 2023.

Franklin Templeton has introduced a new feature on its Benji Investments platform, allowing users to convert USDC stablecoin to U.S. dollars (USD) to fund investments in the Franklin OnChain U.S. Government Money Fund (FOBXX).

This fund is unique as it processes transactions and records ownership on a public blockchain. USDC conversion services are provided by Zero Hash, enabling seamless conversion and investment in BENJI tokens, which represent shares of the fund.

Currently available to institutional wallets, this feature will expand to individual investors in the future. The fund, launched in 2021, aims to offer competitive yields while maintaining a stable $1.00 share price, investing primarily in government securities and cash.

The Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) has announced a change in its portfolio management team. Effective June 3, 2024, Michael Buchanan, Ken Leech, and Frederick Marki will oversee the fund's day-to-day operations. Concurrently, Chia-Liang (CL) Lian will step down as a portfolio manager.

This press release is informational, and Franklin Resources and its affiliates do not sell fund shares. For more details, investors can contact Fund Investor Services or visit the fund's website. Fund shares are traded on the NYSE, and their prices fluctuate based on market conditions, potentially trading at a discount to their net asset value.

Western Asset Inflation-linked Opportunities & Income Fund (NYSE: WIW) has announced the sources of its May 31, 2024, distribution. The distribution per share is $0.0605, entirely derived from net investment income. For the fiscal year to date, the cumulative distribution per share is $0.3025, again solely from net investment income. No short-term or long-term capital gains or return of capital are included. The fund's average annual total return over the last five years is 1.55%, with an annualized distribution rate of 7.42% as of April 30, 2024. Shareholders are cautioned that a portion of distributions may constitute a return of capital, and actual tax reporting may vary. The managed distribution policy aims to provide consistent monthly distributions but may be altered by the Board of Directors.

Lexington Partners announced a strategy and team to lead single-asset continuation vehicle (CV) transactions. Christophe Browne joins as a Partner to spearhead this initiative. Lexington, with over 30 years of experience in secondary private equity and co-investment funds, aims to capitalize on the growing CV market. Browne, a leader in the CV market from his time at Intermediate Capital Group, will be based in Lexington’s new Miami office. The dedicated team includes experienced Lexington professionals. To date, Lexington has invested approximately $6 billion in CV transactions. Recent CV transactions include Belron ($4 billion), Apex Service Partners ($3.4 billion), and Precisely ($1.6 billion).

Martin Currie, an active equity specialist managing £20.1 billion as of March 31, 2024, released its annual report on stewardship, sustainability, and impact initiatives. Key highlights include 647 engagements with companies, voting at 530 shareholder meetings, and top ratings from the Principles of Responsible Investment. In June 2023, Martin Currie launched the 'Improving Society' strategy, focusing on social impact investing. The firm increased its net zero asset commitment to 18.1% and aims for 100% by 2050. Diversity efforts have improved gender representation from 15% to 29% since 2021, and Jennifer Mair was appointed the first female CEO in October 2023.

Franklin Templeton Fund Adviser announced distributions for certain closed-end funds for June, July, and August 2024. Key funds include Western Asset Inflation-Linked Income Fund (WIA) and Western Asset Inflation-Linked Opportunities & Income Fund (WIW), with distributions per share set at $0.05000 and $0.06050 respectively. The distribution dates are set for 6/28/2024, 7/31/2024, and 8/30/2024. The managed distribution policy aims to maintain consistent distribution levels derived from income and capital gains. If necessary, long-term capital gains and return of capital will be used. The Board of Trustees may modify or suspend the policy, which could affect market prices. Sources of distributions are estimated and subject to change based on tax regulations.

Franklin Resources announced a quarterly cash dividend of $0.31 per share, payable on July 12, 2024, to stockholders of record as of June 28, 2024. This dividend is consistent with the previous quarter's dividend and marks a 3.3% increase compared to the same quarter last year. The company's dividend policy aims to provide consistent returns to shareholders, reflecting its stable financial performance.