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.
The Templeton Global Income Fund (GIM) announced its distribution sources for April 29, 2022. The estimated monthly distribution is $0.0362 per share, with $0.0150 (42%) from net investment income and $0.0212 (58%) classified as a return of capital. Cumulative fiscal year distributions total $0.1049 per share, predominantly funded by returns of capital (68%). The Fund operates under a managed distribution plan, aiming for an annual minimum distribution rate of 8% based on average NAV. Shareholders are cautioned that returns of capital do not indicate investment performance.
Franklin Universal Trust (NYSE: FT) has announced the estimated sources of its upcoming distribution scheduled for April 29, 2022. The distribution per share is set at $0.0425, with 91% attributed to net investment income and 9% considered a return of capital. For the fiscal year-to-date ending August 31, 2022, the cumulative distribution per share amounts to $0.3367, consisting of 66% net investment income and 17% short-term capital gains. Shareholders are advised that the distribution does not necessarily reflect the Fund’s investment performance.
Summary not available.
Benefit Street Partners, a subsidiary of Franklin Templeton, has appointed Leon Han as Managing Director in the private debt group. Han will spearhead BSP's origination efforts in the software and technology sectors. Thomas Gahan, BSP CEO, emphasized the significance of this hire, citing Han's extensive credit investment experience and valuable relationships. BSP manages approximately $39 billion in assets under management and focuses on various credit strategies, reinforcing its commitment to expanding its software franchise.
Franklin Resources, Inc. [NYSE:BEN] has appointed Sandy Kaul as Senior Vice President to enhance advisory consulting and thought leadership at the Franklin Templeton Institute. With over 25 years of experience from Citi, Kaul is set to provide insights into the evolving investment landscape. This move aims to support Franklin Templeton's commitment to innovation and enhance client service through strategic insights, particularly regarding digital assets and industry advancements. Kaul's expertise will help navigate transformative changes impacting the investment sector.
Fiduciary Trust International, a subsidiary of Franklin Templeton, announces the hiring of Philip Jodz as senior relationship manager in Radnor, PA. Jodz, with nearly 20 years of industry experience, will enhance the firm's services to ultra-high net worth clients, family offices, and non-profits. His expertise in integrated wealth management aligns with the firm's commitment to meeting multi-generational client needs. Fiduciary Trust International manages over $102 billion in assets. This strategic hire aims to strengthen client relationships in the Philadelphia region.
Clarion Partners Real Estate Income Fund Inc. has enhanced its portfolio by acquiring the Fusion Life Science HQ in Carlsbad, CA, totaling 121,541 square feet. This acquisition marks CPREIF's entry into the San Diego life sciences market, driven by a significant uptick in demand for laboratory space, which grew by 24% in 2021. The property is fully leased to Alphatec Spine, Inc. until January 2031 and features modern amenities. This acquisition represents 5% of CPREIF's portfolio, aiming to capitalize on the growing life sciences sector in a leading innovation hub.
Franklin Resources, Inc. (NYSE:BEN) will release its second quarter operating results on May 3, 2022, at 8:30 a.m. Eastern Time. A commentary on these results will be available on the company's investor relations website. Following the release, a teleconference led by President and CEO Jenny Johnson and other executives will take place at 11:00 a.m. Eastern Time for investors and analysts to ask questions. Access information for the teleconference and a replay option will also be provided. Franklin Resources manages approximately $1.5 trillion in assets.
Eagle Life Insurance Company has announced enhancements to its fixed index annuity portfolio, introducing two new indices and a Performance Rate Rider aimed at increasing growth potential and diversification. The new indices include the Franklin Global Trends Index, which offers global asset class diversification, and the Invesco Dynamic Growth Index, focusing on U.S. equities and bonds across economic cycles. The Performance Rate Rider allows clients to increase participation rates, potentially enhancing interest credited to their annuities. These changes are designed to enrich clients' retirement savings experience.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,477.5 billion as of March 31, 2022, down from $1,486.9 billion on February 28, 2022. The decline was primarily due to $11.7 billion in long-term net outflows and market impacts. On April 1, 2022, Franklin Templeton completed the acquisition of Lexington Partners, adding $57 billion in AUM. AUM is detailed across various asset classes, indicating varying trends.