Franklin Resources, Inc. - BEN STOCK NEWS

Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1,387.5 billion as of December 31, 2022, down from $1,410.6 billion on November 30, 2022. This decline was due to negative market impact partially offset by long-term net inflows. For the quarter, AUM included the positive effects of market performance and the acquisition of Alcentra, despite long-term net outflows of $10.9 billion, which incorporated $12.1 billion in reinvested distributions.

Lexington Partners has promoted seven professionals to Partner, effective January 1, 2023. This announcement follows a remarkable year in which Lexington allocated $8 billion to new investments in private equity and co-investment funds. The new Partners, based in London, Menlo Park, Hong Kong, and New York, bring extensive experience in secondary purchases and co-investments. Lexington has committed $68 billion in capital since inception and has been acquired by Franklin Resources, operating independently as a specialist investment manager.

On January 30, 2023, Franklin Resources, Inc. will announce its first quarter operating results at 8:30 a.m. Eastern Time. A written commentary will be accessible on investors.franklinresources.com. Following the release, a teleconference featuring CEO Jenny Johnson and other executives will take place at 11:00 a.m. Eastern Time. Access details are provided in the PR. Franklin Resources, based in California, manages approximately $1.4 trillion in assets.

Franklin Templeton celebrates the recognition of three of its investment managers in the 2022 Pensions & Investments Best Places to Work in Money Management awards. ClearBridge Investments, with $145.6 billion AUM, has been on the list every year since 2012. Brandywine Global, managing $52 billion AUM, received the award for seven consecutive years, emphasizing long-term value through disciplined investing. Clarion Partners, with $83.5 billion AUM, was recognized in its first year of submission. This acknowledgment highlights a strong workplace culture amidst challenging market conditions.

Franklin Universal Trust (NYSE: FT) announced the estimated sources of its upcoming distribution scheduled for December 30, 2022. The distribution per share is estimated at $0.1037, with allocations including $0.0319 from net investment income, $0.0378 from realized short-term capital gains, and $0.0340 categorized as a return of capital. The cumulative distribution year-to-date is $0.1275. Shareholders are cautioned that distributions may include a return of capital and do not necessarily reflect investment performance.

Franklin Templeton is enhancing workplace dialogue through its D&I Courageous Conversations initiative. This series promotes diversity and inclusion by engaging employees in discussions on critical topics. Key objectives include understanding uncomfortable conversations, practicing empathy, and learning allyship. The program covered various themes throughout 2022, including neurodiversity, diversity strategies, and mental health awareness, with significant employee participation, showcasing the firm's commitment to fostering an inclusive environment.

On December 23, 2022, the Franklin FTSE Russia ETF (FLRU) suspended the right of redemption for its shares due to capital controls stemming from Russia's invasion of Ukraine. This suspension was authorized by the U.S. Securities and Exchange Commission, preventing the liquidation of FLRU's Russian equity holdings. The liquidation process may take an extended period unless market conditions improve. Investors are cautioned about potential liquidation distributions as FLRU may be terminated any time after December 31, 2023.