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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.
Templeton Emerging Markets Income Fund (NYSE: TEI) has announced a monthly distribution of $0.0480 per share, payable on September 30, 2022. The payment will be distributed to shareholders of record as of September 19, 2022, with an ex-dividend date of September 16, 2022. The Fund operates under a managed distribution plan that provides a minimum fixed rate of 10% annually based on the average monthly net asset value. However, the sustainability of these distributions is not guaranteed and may involve returns of capital.
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Templeton Global Income Fund (NYSE: GIM) announced a monthly distribution of $0.0318 per share from net investment income, payable on September 30, 2022, to shareholders of record on September 19, 2022. The Fund's fee waiver has been extended until December 31, 2022. Post this date, management fees will increase to 0.700% for assets up to $200 million. The Fund operates a managed distribution plan aiming for an annual minimum fixed rate of 8% based on average monthly net asset value, but performance is not guaranteed.
Franklin Templeton has launched two new digital asset separately managed account (SMA) strategies through Eaglebrook Advisors, set to become available to investment professionals in mid-October. The Digital Assets Core strategy targets the largest digital assets, while the Digital Assets Core Capped strategy limits Bitcoin and Ethereum holdings to 25%. These initiatives aim to enhance Franklin Templeton’s offerings in the evolving digital asset landscape, reinforcing their commitment to advisors and clients amid growing market interest.
Franklin Templeton has appointed Jamie Gordon as Senior Vice President, Senior Consultant Advisor, US Institutional. Gordon, with 25 years of financial services experience, will strengthen relationships with key consulting partners on the East Coast. Reporting to Mike Foley, he aims to enhance service delivery for institutional clients. Gordon previously worked at Income Research + Management, JPMorgan Securities, and Prudential Securities. This appointment follows the recent hiring of John Ivanac as a consultant advisor for alternative investments.
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Templeton Global Income Fund (NYSE: GIM) announced the estimated sources of distribution for its August 31, 2022 payment. The distribution per share is $0.0311, with 52% from net investment income and 48% as a return of capital. Cumulative distributions for 2022 total $0.2444 per share, consisting of 39% net investment income and 61% return of capital. The fund operates a managed distribution plan aiming for an 8% annual fixed rate but warns that returns may not reflect actual performance. Shareholders are advised that distributions may involve returns of capital, not income.
Templeton Emerging Markets Income Fund (NYSE: TEI) announced estimated sources of its August 2022 distribution of $0.0463 per share. Of this, 73% is derived from net investment income, while 27% represents a return of capital. For the fiscal year to date, the total distribution per share is $0.4264, consisting of 60% net investment income and 40% return of capital. Shareholders are cautioned against interpreting distribution amounts as an indicator of investment performance, as returns of capital may occur and do not reflect yield. The managed distribution plan aims for a fixed annual rate of 10% but carries no guarantees.
Franklin Universal Trust (NYSE: FT) announced the estimated sources of distributions for the month ending August 31, 2022. The August monthly distribution is $0.0425 per share, with net investment income contributing $0.0310 (73%) and a return of capital of $0.0115 (27%). For the fiscal year-to-date, the cumulative distribution is $0.5067 per share, primarily from net investment income (74%). Shareholders are advised that a portion of the distribution may consist of a return of capital, which does not reflect the fund’s investment performance.
Franklin Limited Duration Income Trust (FTF) announced its estimated sources for the upcoming distribution on August 31, 2022. The distribution per share is estimated at $0.0613, with 92% attributed to net investment income. Cumulative distributions for the fiscal year-to-date stand at $0.4809 with a significant portion, 42%, being a return of capital. The Fund's annualized distribution rate is pegged at 9.81%. Investors are advised that distributions may not reflect overall investment performance.