Welcome to our dedicated page for Franklin Resources news (Ticker: BEN), a resource for investors and traders seeking the latest updates and insights on Franklin Resources stock.
Franklin Resources, Inc. reports developments for Franklin Templeton, a global investment manager serving individual, institutional and wealth clients across public and private markets. News commonly covers assets under management, net flows, earnings, operating results and asset-class activity across equity, fixed income, alternatives, multi-asset and cash management strategies.
Company updates also include product and platform initiatives such as model portfolios, separately managed account-style solutions and private-market access, as well as developments at subsidiaries including Western Asset Management and Fiduciary Trust International. Other recurring themes include global distribution, wealth management expansion, client group leadership and capital actions tied to the company’s NYSE-listed common stock.
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.
Meta shareholders, led by Lisette Cooper, PhD, from Fiduciary Trust International and Proxy Impact, have filed a resolution for Meta's annual meeting on May 29, 2024. The proposal urges Meta's Board to set targets within a year to mitigate child safety risks on its platforms and to publish an annual report on progress. Supported by Institutional Shareholder Services (ISS) and Glass Lewis, the resolution aims to address dangers such as cyberbullying, grooming, and exposure to harmful content. Cooper highlights the long-term benefits for investor security, emphasizing Meta's responsibility amid rising legal and regulatory pressures globally.
Franklin Resources, Inc. reported a decrease in month-end assets under management (AUM) to $1.60 trillion at April 30, 2024, compared to $1.64 trillion at March 31, 2024. The decline was due to negative markets and net outflows, including funds from Great-West Lifeco.
Benefit Street Partners L.L.C announced the final close of BSP Special Situations Fund II with approximately $850 million in capital commitments. The fund focuses on providing bespoke financing solutions to borrowers leveraging its experience in stressed and distressed situations. BSP's special situations team has deployed over $3 billion since inception, aiming for attractive risk-adjusted returns. Fund II has already deployed 40% of its capital with an early strong net IRR of 25%.
Western Asset Inflation-Linked Opportunities & Income Fund announces changes in its portfolio management team, effective May 1, 2024. John Bellows is no longer a portfolio manager, while a new team comprising Michael Buchanan, Ken Leech, Chia-Liang Lian, and Frederick Marki takes over. The Fund's share prices fluctuate with market conditions and may trade at a discount to their net asset value, posing risks for investors.
Fiduciary Trust International, a global wealth manager and subsidiary of Franklin Templeton, welcomes Edward J. Mooney as managing director and financial planning director. Mooney's industry experience will enhance the firm's financial planning solutions, setting new industry standards and elevating client experience. His expertise in investments, wealth succession, estate and tax planning, and charitable structures will benefit high-net-worth individuals and families.