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 Resources, Inc. (NYSE: BEN) reported net income of $438.4 million ($0.86 per diluted share) for the quarter ended June 30, 2021, a 15% increase from the previous quarter. Operating income rose to $478.1 million, up 5% quarter-over-quarter. Adjusted net income reached $493.7 million, with adjusted diluted earnings per share at $0.96. Despite long-term net outflows of $6.6 billion, total assets under management (AUM) grew to $1.552 trillion, boosted by a $62 billion net market change. The company continues to invest in business growth following the acquisition of Legg Mason.
Templeton Global Income Fund (NYSE: GIM) has declared a monthly distribution of $0.0369 per share from net investment income, payable on August 31, 2021. Shareholders on record by August 16 will receive this payment, with an Ex-Dividend Date set for August 13. The Fund operates under a managed distribution plan ensuring a 7.5% annual minimum distribution based on the average monthly net asset value (NAV). Distributions may include long-term capital gains or return of capital if necessary, and these figures might not reflect the Fund’s actual investment performance.
Templeton Emerging Markets Income Fund (TEI) announced a monthly distribution of $0.0716 per share, payable on August 31, 2021, to shareholders of record on August 16, 2021. The Fund's Board authorized an increase in its managed distribution plan from an 8.5% to a 10% annual minimum fixed rate, based on the average monthly net asset value (NAV). While this plan aims to provide shareholders with stable monthly distributions, it may include long-term capital gains or return of capital if net ordinary income is insufficient. Investors should be cautious, as distributions may not reflect actual investment performance.
AdvisorEngine has appointed Raj Madan as Chief Information Officer to spearhead technological advancements in wealth management. Madan, with over 20 years of experience, notably at BNY Mellon, will lead all technology functions, aligning with AdvisorEngine's growth strategy. His expertise is expected to enhance product development and strengthen partnerships within the fintech sector. The company emphasizes its commitment to an integrated technology platform designed for financial advisors and their clients, targeting innovative solutions in the wealth management lifecycle.
Franklin Limited Duration Income Trust (FTF) announced a distribution of $0.0780 per common share, payable on August 13, 2021, to shareholders on record as of July 30, 2021. The Fund has adopted a managed distribution plan targeting a 10% annual minimum fixed rate based on the average monthly net asset value (NAV). Distributions may include long-term capital gains or return of capital if sufficient investment income is unavailable. The plan's terms can be amended or terminated by the Board, potentially impacting the market price of the Fund's shares.
The Franklin Limited Duration Income Trust (FTF) has declared a dividend of $0.0780 per common share, payable on July 15, 2021, to shareholders of record by June 30, 2021. Out of this amount, approximately $0.0391 is net investment income, while $0.0389 is a return of principal. The Fund will follow a managed distribution plan, providing monthly distributions at an annual minimum fixed rate of 10% based on the average NAV of the Fund's shares, intended to narrow the discount between market price and NAV.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1,552.1 billion as of June 30, 2021, a rise from $1,543.5 billion in May 2021. The increase was driven by market improvements but impacted by long-term net outflows totaling $6.6 billion for the quarter, including two significant equity redemptions of $3.7 billion and $2.2 billion. The AUM consisted of $658.1 billion in Fixed Income, $536.9 billion in Equity, $153.0 billion in Multi-Asset, and $140.8 billion in Alternative assets.
Franklin Templeton appointed Dr. Yu (Ben) Meng as Executive Vice President and Chairman of Asia Pacific, effective July 15, 2021. In this newly created position, he will enhance the firm's growth strategy in the region, focusing on private equity, venture capital, and alternative assets. Dr. Meng's extensive experience includes serving as Chief Investment Officer at CalPERS and Deputy Chief Investment Officer at SAFE. His leadership aims to deepen Franklin Templeton's commitment to the Asia Pacific market, aligning with the company's long-term investment philosophy.
On August 3, 2021, Franklin Resources, Inc. (NYSE:BEN) will announce its third-quarter 2021 operating results at 8:30 a.m. Eastern Time, alongside a written commentary available through its investor relations website. A live teleconference hosted by executives, including CEO Jenny Johnson and CFO Matthew Nicholls, will follow at 11:00 a.m. for in-depth Q&A. Investors can also access a replay of the teleconference until August 10, 2021. The Company, known for its investment management services globally, manages over $1.5 trillion in assets as of May 31, 2021.
Franklin Templeton has partnered with vWise, Inc. to enhance retirement outcomes in Defined Contribution Plans using advanced technology and predictive analytics. Their collaboration leverages Franklin Templeton's Goals Optimization Engine (GOETM) and vWise's Experience Platform to deliver personalized investment solutions. This initiative aims to increase participant engagement and optimize retirement strategies through customized communication and data-driven insights. Additionally, Mary Beth Glotzbach from Franklin Templeton has joined vWise's board to further this collaborative effort.