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.
Templeton Emerging Markets Income Fund (NYSE: TEI) has announced a monthly distribution of $0.0684 per share, payable on November 30, 2021, to shareholders on record by November 15, 2021. This distribution is part of a managed distribution plan that targets a fixed annual rate of 10% based on the Fund's average net asset value. The plan aims to provide consistent payments but may include returns of capital and is subject to review and modification by the Board. Shareholders are advised to consider the Fund's overall performance rather than just this distribution.
Franklin Resources (NYSE:BEN) has announced the acquisition of Lexington Partners, a leading manager in secondary private equity and co-investment funds, for $1.75 billion. This deal aims to enhance Franklin Templeton’s alternative asset offerings and capitalize on the growing demand for private equity investments. Lexington, with over $55 billion in commitments and a substantial AUM of $34 billion, will operate under Franklin Templeton's management with its current team. The acquisition is expected to close by the end of Q2 2022 and is projected to be immediately accretive to adjusted earnings per share.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary net income of $665.7 million or $1.30 per diluted share for Q4 FY2021, up from $438.4 million or $0.86 per diluted share in Q3 FY2021 and $78.9 million or $0.15 in Q4 FY2020. For FY2021, net income reached $1,831.2 million or $3.57 per diluted share versus $798.9 million or $1.59 the previous year. Operating income was $531.5 million for the quarter and $1,875.0 million for the year. AUM decreased by 1% to $1,530.1 billion during the quarter but rose 8% year-over-year.
Templeton Global Income Fund (GIM) has announced estimated sources for its distribution set for October 29, 2021. The distribution per share is estimated at $0.0356, with 64% from net investment income, and 36% as a return of capital. For the year-to-date, cumulative distribution is $0.2869, comprising 67% from net investment income and 33% from return of capital. The fund operates under a managed distribution plan targeting a minimum 7.5% annual distribution rate, subject to future adjustments.
Franklin Resources, Inc. (NYSE:BEN) will announce its fourth quarter and fiscal year 2021 operating results on November 1, 2021, at 8:30 a.m. Eastern Time. A written commentary will also be accessible on their investor relations website. The Company will host a live teleconference at 11:00 a.m. Eastern Time with key executives, including the President and CEO, to discuss the results. With over 70 years of investment experience, Franklin Templeton manages more than $1.5 trillion in assets as of September 30, 2021, serving clients in over 165 countries.
Franklin Templeton has partnered with LDI-MAP (iJoin) to offer its Goals Optimization Engine (GOE) through iJoin’s managed account technology. This collaboration aims to provide personalized investment advice within defined contribution plans, enhancing access for plan advisors and their clients. The GOE delivers individualized portfolio pathways based on unique client goals, using dynamic programming to increase the likelihood of achieving these goals. This offering targets smaller plans that lack such personalized investment solutions.
Summary not available.
Franklin Universal Trust (NYSE: FT) has declared a monthly distribution of $0.0425 per share, payable on November 15, 2021, to shareholders of record on October 29, 2021. The fund's primary objective is to provide high current income while preserving capital, with a secondary goal of income growth through dividends and capital appreciation. Distribution amounts may vary based on net investment income, and past distribution levels do not predict future performance.
Franklin BSP Realty Trust (FBRT) and Capstead Mortgage Corporation (CMO) completed their merger as of October 18, 2021. Under the terms of the merger, CMO shareholders received 0.3288 shares of FBRT and cash totaling $0.94 per share. CMO ceased trading on NYSE following the merger, with FBRT now being the publicly traded entity. The combined company aims to leverage its scale for long-term growth and returns, with a $100 million share repurchase program set to begin shortly. Additionally, three former CMO directors joined FBRT's Board.
Franklin BSP Realty Trust (FBRT) has successfully completed its merger with Capstead Mortgage Corporation (CMO), following the Merger Agreement dated July 25, 2021. As of October 19, 2021, Capstead's shares have been converted into FBRT common stock and cash. Former Capstead directors have joined FBRT's Board, enhancing governance. The combined entity aims to leverage its position as a leading commercial mortgage REIT with a compelling $100 million share repurchase program to support stock value. The transaction positions FBRT for long-term growth in the real estate debt market.