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.
Fiduciary Trust International, a subsidiary of Franklin Templeton, has appointed M. Lisa Parry Howard as trust counsel in its Wilmington office. With over 20 years of experience in financial services, Howard specializes in trust account administration and compliance. Delaware's favorable trust laws make it a key location for the firm's operations. This addition complements the firm's growing Delaware team, which aims to leverage the state's tax-efficient trust solutions. Fiduciary Trust International manages over $98 billion in assets, demonstrating its significant market position.
Legg Mason Partners Fund Advisor, LLC announced distribution declarations for closed-end funds WIA and WIW for June to November 2022. Monthly payouts include $0.04500 for WIA and $0.05500 for WIW. Key dates are provided: record dates, ex-dividend dates, and payable dates. Distributions may include return of capital if investment income is insufficient. Share prices fluctuate and can trade at a discount to net asset value, increasing risks. Franklin Resources, the parent company of Legg Mason, is highlighted.
TIFIN has successfully closed a $109 million Series D financing round, bringing its total funding to approximately $204 million over the past 18 months. The company’s valuation has risen to $842 million, reflecting significant growth in its product offerings and user base. Notable new investors include Franklin Templeton and Motive Partners. TIFIN utilizes AI to provide personalized wealth management solutions and aims to enhance digital distribution for investment managers. This funding will bolster TIFIN's expansion efforts, particularly Magnifi's consumer platform.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,455.8 billion as of April 30, 2022, down from $1,477.5 billion at March 31, 2022. The decline in AUM was largely due to market impacts and long-term net outflows, although this was partially offset by the acquisition of Lexington Partners. AUM details by asset class include fixed income at $562.8 billion, equity at $468.1 billion, and alternatives at $218.8 billion.
Franklin Universal Trust (NYSE: FT) announced a monthly distribution of $0.0425 per share from net investment income, payable on May 31, 2022. Shareholders of record as of May 16, 2022 will receive this payment, with an ex-dividend date of May 13, 2022. The trust aims to provide high current income while preserving capital, with potential for income and capital growth. However, past distributions do not guarantee future results, and shareholders need to consider tax implications of reported amounts.
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Templeton Global Income Fund [NYSE: GIM] announced a monthly distribution of $0.0354 per share, payable on May 31, 2022, to shareholders of record on May 16, 2022. The Fund operates under a managed distribution plan, promising a minimum annual rate of 8% based on the average net asset value. However, the Fund may utilize long-term capital gains or return of capital if net distributable income is insufficient. Amendments or termination of the plan could negatively impact the market price of the common shares. Tax implications for distributions will vary.
The Templeton Emerging Markets Income Fund (NYSE: TEI) announced a monthly distribution of $0.0600 per share from net investment income, payable on May 31, 2022. Shareholders of record as of May 16, 2022 will receive the distribution. The Fund operates under a managed distribution plan, maintaining a minimum annual rate of 10% based on average net asset value. The Board retains the right to amend or terminate this plan. Distributions may include returns of capital, which do not reflect investment performance. No conclusions about the Fund’s performance should be drawn from the distribution amounts.
Franklin Resources reported a net income of $349.6 million ($0.68 per diluted share) for Q1 2022, down from $453.2 million ($0.88) in Q4 2021 and $381.8 million ($0.74) in Q1 2021. Operating income decreased to $463 million, reflecting a 17% drop quarter-over-quarter. Despite a challenging market environment leading to net long-term outflows of $11.7 billion, the company experienced growth in higher-fee products. Total assets under management (AUM) fell to $1.48 trillion, down 6% from the previous quarter. Adjusted net income was $491.6 million, a decrease from $553.6 million in Q4 2021.
Franklin Templeton has published its annual Corporate Social Responsibility (CSR) Report, reaffirming commitments made in 2021 and outlining progress across six dimensions of CSR: stewardship and sustainable investing; diversity and inclusion; environment and climate; employee experience; community engagement; and responsible corporate practices. For 2022, the firm aims to enhance its sustainability reporting using the Global Reporting Initiative framework. Key achievements include a reduction in greenhouse gas emissions by 57% since 2007 and the integration of diverse hiring practices. The report emphasizes long-term risk management as a core business strategy.