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Franklin Resources, Inc. (NYSE: BEN), commonly known as Franklin Templeton, is a prominent global investment management organization. With more than 75 years of expertise, Franklin Templeton delivers a suite of investment services aimed at both individual and institutional investors. As of April 2024, the company oversees $1.602 trillion in managed assets, comprising 35% equity, 35% fixed-income, 10% multi-asset/balanced funds, 16% alternatives, and 4% money market funds.
Franklin Templeton is renowned for its diverse portfolio and global reach, with more than a third of its assets under management (AUM) invested in international strategies. Furthermore, approximately 30% of managed assets are sourced from clients outside the United States. The company's client base is balanced between retail investors at 52% and institutional accounts at 46%, with high-net-worth individuals accounting for the remainder.
Recently, the company's subsidiary, ClearBridge Investments, released its seventh annual Stewardship Report, highlighting its commitment to environmental, social, and governance (ESG) factors. With $188 billion in assets under management, ClearBridge actively integrates ESG considerations into its investment process, promoting sustainable practices and responsible investing. In 2023, ClearBridge earned top scores in the U.N.-supported Principles for Responsible Investment (PRI) reporting assessment and joined the Interfaith Center on Corporate Responsibility's Living Wage Statement, advocating for fair wages in line with international human rights standards.
Franklin Templeton's dedication to ESG is further exemplified through ClearBridge's active ownership and engagement strategies. In 2023, ClearBridge voted on over 15,000 shareholder proposals and engaged with more than 1,000 companies to drive positive change. The firm's commitment to diversity and inclusion is also noteworthy, with strong representation of women and people of color among its staff and investment teams.
Franklin Templeton continues to advance the U.N. Sustainable Development Goals (SDGs) through various philanthropic efforts. ClearBridge's partnership with WaterAid since 2013 has improved clean water accessibility in Timor-Leste, directly supporting SDG 6: Clean Water and Sanitation.
With a mission to help clients achieve better outcomes through specialized investment management and wealth management solutions, Franklin Templeton operates with a global presence in over 150 countries. The company leverages its extensive capabilities in fixed income, equity, alternatives, and multi-asset solutions to serve a diverse clientele, bolstered by a team of over 1,500 investment professionals stationed in major financial markets worldwide.
Independent Insurance Group's life and annuity subsidiary, Independent Life Insurance Company, announced over $100 million in committed sales of its product iStructure, the first uncapped index-linked structured settlement annuity. This significant milestone is primarily rooted in plaintiff settlement recoveries, attorney fee deferrals, and installment sales. With more than 150 clients choosing iStructure for various financial needs, including personal injury cases, the product offers potential growth and tax benefits. Independent Life continues to innovate its offerings, partnering with renowned entities like Franklin Templeton and Bank of America.
The Board of multiple Funds under Franklin Resources has appointed Eileen Kamerick as Lead Independent Director, effective November 8, 2022, following the passing of former Director William Hutchinson. Additionally, Nisha Kumar will take over as Chair of the Audit Committee. This management transition aims to maintain effective governance within the Funds. Investors should note that shares of these Funds, traded on the NYSE under the ticker BEN, are subject to market fluctuations and inherent risks.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary assets under management (AUM) of
Franklin Resources announced preliminary net income of $232.7 million or $0.46 per diluted share for Q3 FY2022, down from $256.4 million or $0.50 in Q2 FY2022 and $665.7 million or $1.30 in Q3 FY2021. For the fiscal year, net income was $1,291.9 million or $2.53 per share, a 29% decline year-over-year. Assets under management (AUM) decreased by 15% to $1.297 trillion. Despite macroeconomic pressures, the firm saw net inflows in alternative investments and improved performance in EMEA regions. The company maintains a strong cash position of $6.8 billion.
Franklin Templeton has completed the acquisition of BNY Alcentra Group Holdings, increasing its alternative assets under management to
Franklin Universal Trust (NYSE: FT) announced its estimated sources of distribution for the monthly payment on October 31, 2022. Each share will receive $0.0425, derived entirely from net investment income. Year-to-date cumulative distributions remain at $0.0425 per share. The Fund aims to provide high current income with capital preservation, while the average annual total return over the past five years was 3.06%. Shareholders are advised that distribution amounts are estimates and subject to change.
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