Welcome to our dedicated page for Franklin Templeton news (Ticker: BEN), a resource for investors and traders seeking the latest updates and insights on Franklin Templeton 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.
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.
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 Universal Trust (NYSE: FT) announced its distribution notification for payments scheduled on October 15, 2021. The distribution per share is estimated at $0.0425, sourced entirely from net investment income (100%). Year-to-date cumulative distributions through August 31, 2021 total $0.4262, with 99% being net investment income. The Fund focuses on providing high current income while preserving capital. Actual distribution sources may vary, and shareholders will receive a Form 1099-DIV for tax reporting.
Franklin Limited Duration Income Trust (NYSE: FTF) has issued a notification regarding its sources of distribution for the fiscal year-to-date, scheduled for payment on October 15, 2021. The estimated monthly distribution per share is $0.0770, with allocations including net investment income (53%), short-term capital gains (5%), and return of capital (42%). Cumulative estimates reveal a year-to-date distribution of $0.6268 per share. The Fund emphasizes that distributions should not be confused with investment performance, as a portion may be a return of capital.
Franklin BSP Realty Trust, Inc. and Capstead Mortgage Corporation have announced the final exchange ratio and cash consideration for their proposed merger, expected to close on October 19, 2021. Each share of Capstead Common Stock will convert into 0.3288 shares of FBRT Common Stock and receive $0.94 per share in cash from both FBRT and its external manager, Benefit Street Partners. Post-merger, FBRT shares will trade under the ticker symbol 'FBRT' on the NYSE. The merger remains subject to approval by Capstead's stockholders at a special meeting on October 15, 2021.
Franklin BSP Realty Trust and Capstead Mortgage Corporation have announced the final exchange ratio and cash consideration for their proposed merger. If completed on October 19, 2021, Capstead shareholders will receive 0.3288 shares of FBRT and cash totaling $0.94 per share. Following the merger, Capstead's common stock will cease trading on NYSE at the end of October 18, 2021. The merger still requires stockholder approval, with a special meeting scheduled for October 15, 2021.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of $1,530.1 billion as of September 30, 2021, down from $1,572.1 billion at August 31, 2021. This decline was due to market depreciation and slight long-term net outflows, including a $2 billion fixed income institutional redemption. For the quarter, AUM fell by $9.9 billion, influenced by redemptions in the company's products, particularly $5.4 billion from a 529 plan.
Templeton Emerging Markets Income Fund (NYSE: TEI) has announced a monthly distribution of $0.0685 per share from net investment income, payable on October 29, 2021. The distribution will benefit shareholders of record as of October 15, 2021 with an Ex-Dividend Date set for October 14, 2021. The Fund operates under a managed distribution plan, ensuring a minimum annual fixed rate of 10% based on average monthly net asset value (NAV), although success is not guaranteed. Distributions may include returns of capital or capital gains.
Templeton Global Income Fund [NYSE: GIM] has announced a monthly distribution of $0.0356 per share, set for payment on October 29, 2021. Shareholders on record as of October 15, 2021 will receive this distribution. The Fund operates under a managed distribution plan, guaranteeing a minimum annual rate of 7.5%, based on average net asset value (NAV). It aims to balance distributions through ordinary income, short-term capital gains, or, if necessary, long-term capital gains and return of capital.
AdvisorEngine has announced the hiring of three key leaders: George Tamer as Head of Sales, Suleman Din as Advisor Intelligence Lead, and Christina Esfehani as Head of Product Marketing. This move supports the company’s goal to add 25 new hires in the upcoming year, reflecting its commitment to enhancing client services. Tamer brings 25 years of wealth management expertise; Din is set to develop thought leadership in digital wealth management; and Esfehani aims to sharpen product communication. These additions signal a strategic effort to strengthen AdvisorEngine's position in the competitive market.