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.
FRANKLIN LIMITED DURATION INCOME TRUST (FTF) announced the preliminary results of its transferable rights offering, expected to issue approximately 10,250,000 common shares. The final subscription price was set at $7.61, reflecting 90% of the Fund's net asset value. The offering was over-subscribed, anticipating gross proceeds of around $78 million. Common shares are expected to be issued on February 24, 2022, after completing pro rata allocation and receipt of shareholder payments.
Legg Mason Partners Fund Advisor, LLC announced distributions for closed-end funds under its managed distribution policy for March to May 2022. Key dates include March 24 for record, March 23 as ex-dividend, and March 31 for payable. The Western Asset Inflation-Linked Income Fund (WIA) will distribute $0.03900 in March and a special $0.17200. Meanwhile, the Western Asset Inflation-Linked Opportunities & Income Fund (WIW) will distribute $0.04850 and a special $0.06500 in March. Distributions may be adjusted based on the funds' net investment income and capital gains.
Fiduciary Trust International expands its Northern California operations by hiring Charles "Chase" Johnson as a wealth director in San Mateo. Johnson, previously a financial analyst at Rockefeller Capital Management, will handle investment management and trust needs for high-net-worth clients. The firm views the Northern California market as rapidly growing and aims to enhance client services by adding experienced professionals like Johnson. Fiduciary Trust International has a robust connection to the area, supported by Franklin Templeton, which has $1.5 trillion in assets under management.
Franklin Limited Duration Income Trust (FTF) announced its estimated sources of distributions for the fiscal year 2021. A distribution of $0.0750 per share is scheduled for February 14, 2022. The net investment income accounts for 51% of this distribution while 49% is categorized as a return of capital. The fund's average annual total return over the previous five years is reported at 2.67%, with an annualized distribution rate of 10.03%. Investors are reminded that the distribution does not directly reflect the fund's investment performance. For tax reporting, actual distribution amounts may vary.
Micruity Inc. has secured $5.1 million in seed financing led by SixThirty Ventures, with participation from key investors including Allianz Life and Franklin Templeton. The funding aims to enhance its Income Connectivity Platform, facilitating access to annuities within 401(k) plans, thereby addressing the projected $137 trillion retirement savings gap by 2050. Annuities, once inaccessible, can now be integrated into retirement plans, offering a stable income solution for Americans facing market volatility.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,521.8 billion as of January 31, 2022, a decrease from $1,578.1 billion on December 31, 2021. This decline was primarily attributed to adverse market conditions, with long-term net flows remaining stable. By asset class, fixed income AUM was $626.0 billion, equity AUM was $526.3 billion, and alternatives were $154.9 billion. Overall, AUM fell due to market fluctuations, highlighting ongoing market risk concerns.
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Templeton Global Income Fund (NYSE: GIM) has declared a monthly distribution of $0.0342 per share, payable on February 28, 2022, to shareholders of record on February 17, 2022. The Fund follows a managed distribution plan ensuring an annual fixed rate of 7.5% based on the average monthly NAV. The Board may amend or terminate this plan without notice, potentially impacting share prices. Distributions should not be seen as indicators of the Fund's investment performance, as they may include returns of capital and estimates for tax reporting.
Templeton Emerging Markets Income Fund [NYSE: TEI] announced a monthly distribution of $0.0633 per share, payable on February 28, 2022 to shareholders on record as of February 17, 2022. The Fund implements a managed distribution plan ensuring a minimum annual rate of 10%, based on average monthly net asset value. Distributions may include long-term capital gains or return of capital if net ordinary income is insufficient. Shareholders should not interpret distribution amounts as indicators of investment performance, as actual reporting will vary based on investment outcomes.
Franklin Universal Trust (NYSE: FT) has announced a monthly distribution of $0.0425 per share, payable on February 28, 2022. Shareholders of record on February 17, 2022 will receive this distribution, with an ex-dividend date set for February 16, 2022. The Trust aims to provide high current income with capital preservation, while also seeking to grow income through dividend increases. Investors should note that past distributions may not predict future payouts.