Franklin Resources, Inc. - BEN STOCK NEWS

Franklin Templeton, a global investment management organization, engaged in various community service initiatives throughout late 2022 and early 2023. This included participating in Rock the Street, Wall Street, a program aimed at enhancing financial literacy among high school girls. The company's employees also contributed to RAFT, creating educational STEAM kits, and supported the Society of St. Vincent de Paul in Florida with food preparation. Further, they observed World AIDS Day in India to promote awareness among children. Franklin Templeton manages approximately $1.4 trillion in assets and serves clients across 155 countries.

Templeton Global Income Fund (NYSE: GIM) has experienced a significant shift in its governance as Saba Capital Management now constitutes a majority on the Board of Trustees. This follows the Fund's withdrawal of litigation that had delayed the election of Saba's four nominated trustees, after a court denied the Fund's request for a preliminary injunction. Saba's Founder, Boaz Weinstein, criticized the previous asset manager, Franklin Templeton, for wasting resources and called for refunds of excess fees incurred during the litigation. This transition is expected to enhance the Fund's performance and shareholder value.

Legg Mason Partners Fund Advisor announced the distributions for closed-end funds following their managed distribution policy for March, April, and May 2023. The declared amounts are as follows: Western Asset Inflation-Linked Income Fund (WIA) maintains a distribution of $0.050 for March, $0.050 for April, and $0.050 for May. Western Asset Inflation-Linked Opportunities & Income Fund (WIW) has set distributions at $0.0605 for March, $0.0605 for April, and $0.0605 for May. Distributions are influenced by net investment income and capital gains. The funds' shares are traded on the NYSE.

Franklin Resources, Inc. (NYSE:BEN) has appointed Leeor P. Avigdor as Senior Vice President, Global Treasurer, and Head of M&A, based in New York. Avigdor's role is crucial for the company’s financial foundation, facilitating investments for organic growth and strategic acquisitions. CFO Matthew Nicholls emphasized Avigdor's invaluable experience in alternative asset management, highlighting the company's commitment to diversifying investment capabilities. With a strong balance sheet and approximately $1.4 trillion in assets under management, Franklin Templeton aims to optimize capital allocation and M&A execution under Avigdor's leadership.

Franklin Resources, Inc. reported preliminary month-end assets under management (AUM) of $1,451.9 billion as of January 31, 2023, up from $1,387.7 billion at December 31, 2022. This growth was supported by positive market conditions and cash management inflows, despite modest long-term net outflows. By asset class, fixed income increased to $512.1 billion, equity grew to $445.5 billion, and alternatives rose to $257.9 billion. Long-term assets amounted to $1,362.7 billion.

Fiduciary Trust International, a subsidiary of Franklin Templeton, has appointed Craig S. Richards as the new Chief Administrative Officer. With over 30 years at the firm, Richards aims to enhance the delivery of wealth management services and streamline business processes. Under his leadership, the company focuses on providing an exceptional client experience amidst growing complexity in operations. Fiduciary Trust manages over $87 billion in assets as of December 31, 2022, and specializes in strategic wealth planning, investment management, and trust services.