Franklin Resources Inc Stock Price, News & Analysis

Fiduciary Trust International, a subsidiary of Franklin Templeton (NYSE: BEN), has appointed Kevin F. Flood, CFP®, SE-AWMA™, as a senior relationship manager in its New York office. With over 30 years of experience in private wealth management, Mr. Flood brings expertise in managing complex multi-generational relationships and driving revenue growth.

Prior to joining Fiduciary Trust International, Mr. Flood was a senior vice president at Wilmington Trust, overseeing $870 million in assets under management and $1.3 billion in assets under administration. He has also held vice president positions at U.S. Trust/Bank of America and Mutual of America Life Insurance Company.

Mr. Flood's appointment aligns with Fiduciary Trust International's focus on meeting the needs of high-net-worth clients and complex portfolios. His client-focused approach and commitment to fiduciary excellence are expected to enhance the firm's offerings and drive growth.

Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) has announced its distribution sources for July 31, 2024, and fiscal year 2024 to date. The Fund's July monthly distribution of $0.0605 per share is entirely sourced from net investment income. For the fiscal year-to-date, the cumulative distribution of $0.4235 per share is also 100% from net investment income.

The Fund's performance metrics as of June 30, 2024, include an average annual total return of 1.23% over 5 years, an annualized distribution rate of 7.38%, and a cumulative total return of 3.49% for the fiscal period. WIW operates under a managed distribution policy, aiming to deliver long-term total return potential through regular monthly distributions.

Pacific Life and Franklin Templeton have announced a strategic partnership to deliver a defined contribution lifetime income solution for retirement plans. This collaboration combines Pacific Life's Income Horizon™ with Franklin Templeton's Goals Optimization Engine (GOE®) to offer a personalized income approach within Collective Investment Trusts (CITs).

The solution allows plan participants to convert part of their retirement savings into a guaranteed income stream for life within their existing plan. It addresses key concerns highlighted in recent studies, including the preference for incremental lifetime income purchases over time. The framework integrates participant data and machine learning to provide personalized recommendations, offering advantages such as competitive pricing, fiduciary oversight, and portability.

Franklin Templeton has successfully diverted 100% of its no-longer-needed office furniture from landfills during recent office upgrades in San Mateo, Rancho Cordova, and Stamford. This initiative was made possible through a partnership with Green Standards, a non-profit focused on furniture reuse. The company's approach involved repurposing, recycling, and reselling furniture items.

Key highlights:

• 100% of unused furniture was diverted from landfills
• Metal furniture is recycled into new materials
• Wood furniture is recycled for agricultural use or alternative city ground cover
• In Stamford, 86% of furniture was reused or recycled, 12% resold, and 2% donated

This effort aligns with Franklin Templeton's commitment to sustainability and reducing its environmental footprint. The company plans to continue these practices in future global projects.

Franklin Resources, Inc. (NYSE: BEN) reported its Q3 2024 financial results. Net income was $174.0 million or $0.32 per diluted share, compared to $124.2 million or $0.23 per share in Q2 2024. Operating income increased to $222.5 million from $129.3 million in Q2. Adjusted net income was $326.4 million and adjusted diluted EPS was $0.60, up from $306.6 million and $0.56 in Q2. Total AUM reached $1,646.6 billion, up slightly from $1,644.7 billion in Q2. The company saw positive net flows in multi-asset and alternative strategies, as well as strong inflows in retail SMAs, Canvas®, and ETFs. ETFs generated over $3 billion in net inflows. The non-U.S. business had its fifth consecutive quarter of positive net flows.

Fiduciary Trust International, a subsidiary of Franklin Templeton (BEN), has expanded its New York office with the addition of two experienced portfolio managers: Debjani Bagchi, CFA, and Peter E. McEvoy, CFP®. Bagchi brings nearly 30 years of investment management experience, having previously managed multi-asset portfolios exceeding $2 billion at Deutsche Bank. McEvoy joins with almost 40 years of experience, most recently from Deutsche Bank International Private Bank.

This expansion aims to enhance Fiduciary Trust's expertise in the Northeast region, focusing on personalized wealth management and holistic portfolio construction for ultra-high-net-worth clients. The new hires are expected to leverage the firm's comprehensive investment platform and sophisticated portfolio construction capabilities to provide tailored services and foster lasting client relationships.

Franklin Templeton has launched the Franklin Ethereum ETF (EZET) on the Cboe BZX Exchange, offering U.S. investors exposure to ether within a regulated ETF structure. EZET is priced at 0.19%, with fees fully waived to 0.00% until January 31, 2025, for the first $10 billion in fund assets. This spot ether ETF aims to reflect the performance of ether's price, less operational expenses.

The launch follows the success of Franklin Templeton's spot bitcoin ETF (EZBC) in January. The firm has been active in the digital asset space since 2018, developing blockchain-based solutions and investment strategies. Franklin Templeton's U.S. ETF platform, established in 2016, now offers over 100 ETFs globally with combined AUM exceeding $20 billion as of June 30, 2024.

Franklin Templeton (NYSE:BEN) has chosen Aladdin by BlackRock to unify its investment management technology platform across public market asset classes. This comprehensive solution will support the entire investment process, simplify operations, and reduce long-term capital expenses. Aladdin's features will enable Franklin Templeton to meet the diverse needs of its specialist investment managers and support growth initiatives.

The technology will provide an investment book of record on a single platform, enhancing the investment lifecycle while preserving autonomous investment processes. The transition, beginning in fiscal 2025, will be phased over multiple years and is expected to be seamless for clients.

Jackie VanderBrug, Head of Sustainability Strategy at Putnam Investments, a Franklin Templeton company, has been named one of three recipients of the 2024 Joan Bavaria Award. The award recognizes influential work in developing gender lens investing. VanderBrug, along with Joy Anderson and the late Suzanne Biegel, was honored for catalyzing positive change in capital markets. The award presentation took place in Chicago during US SIF's Forum 2024.

VanderBrug leads Putnam's ESG-focused business functions, including stewardship, engagement, partnerships, and ESG strategy and integration. She co-authored the book 'Gender Lens Investing: Uncovering Opportunities for Growth, Returns, and Impact' in 2015. The award judges included leaders from Ceres, US SIF, and Trillium Asset Management, organizations founded or co-founded by Joan Bavaria.