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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) announced its distribution sources for March 31, 2022. The fund's estimated monthly distribution is $0.0632 per share, with 60% from net investment income, and 40% as a return of capital. Cumulative distributions for 2022 are projected at $0.1281 per share, with 64% derived from net investment income. The fund's managed distribution plan aims for a minimum annual distribution rate of 10% based on NAV. Notably, the fund's average annual return over five years is -3.53%, raising questions about its investment performance.
Franklin Universal Trust (NYSE: FT) announced the estimated sources of its upcoming distributions for March 31, 2022, highlighting a monthly distribution of $0.0425 per share, sourced entirely from net investment income. For the fiscal year-to-date through February 28, 2022, the total cumulative distribution per share is $0.2942, with 61% from net investment income. The Fund emphasizes that past distributions do not guarantee future trends and warns that some distributions may be a return of capital, not indicative of investment performance.
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Fiduciary Trust International, a subsidiary of Franklin Templeton, has appointed Julie Min Chayet as wealth director at its New York office. Chayet brings extensive experience, having previously served as managing director at Bank of America Private Bank and as head of the trust department at U.S. Trust. Her role will enhance fiduciary services for complex trusts and estates, aligning with the firm’s commitment to multigenerational wealth management. Fiduciary Trust International manages over $102 billion in assets and has a 90-year history in the industry.
Templeton Global Income Fund (NYSE: GIM) has announced a 10 basis point reduction in its investment management fee, effective from March 1, 2022 to September 1, 2022. During this period, fees will be 0.600% for assets up to $200 million and 0.535% for assets up to $700 million. Post-September 1, the fees will revert to 0.700% and 0.635% respectively. This adjustment aims to enhance fund performance and client returns.
Templeton Emerging Markets Fund (NYSE: EMF) has announced a reduction in management fees effective April 1, 2022, approved by its board on February 28, 2022. This fee change aims to benefit shareholders, with new rates as follows: 1.10% for assets up to $1 billion, 1.05% for assets over $1 billion up to $2 billion, and 1.00% for assets exceeding $2 billion. The current management fees were 1.25%, 1.20%, and 1.15% respectively for similar asset ranges. Franklin Resources, Inc. (NYSE: BEN) oversees this fund, with around $1.5 trillion in assets under management.
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Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1,486.9 billion as of February 28, 2022, down from $1,521.8 billion at January 31, 2022. This decline is attributed to market fluctuations and long-term net outflows. Major changes in AUM by asset class include a drop in Fixed Income from $626.0 billion to $612.5 billion and a decrease in Equity from $526.3 billion to $509.8 billion.
Franklin Templeton has appointed Lloyd Nemerever as vice president and head of Municipal Bonds SMA Strategies, effective March 28, 2022. Joining from Goldman Sachs Asset Management, he will lead portfolio management for municipal bond SMAs, enhancing the firm’s offerings in a growing market. Notably, municipal fixed income accounts for over $300 billion in industry assets, signaling a robust demand. Franklin Templeton’s municipal bond team manages approximately $72 billion in assets, reinforcing its position in the sector.