Franklin Resources, Inc. - BEN STOCK NEWS

Bronstein, Gewirtz & Grossman, is investigating potential claims against Franklin Resources, Inc. (NYSE: BEN) on behalf of shareholders. The investigation follows news that Franklin subsidiary Western Asset Management Company's co-Chief Investment Officer Ken Leech received a Wells Notice from the SEC and is on immediate leave of absence. Additionally, federal prosecutors are reportedly investigating possible 'cherry-picking' practices at Western Asset Management.

Following this news, Franklin's stock price fell $2.84 per share (12.56%) to close at $19.78 on August 21, 2024. Investors who purchased Franklin securities are encouraged to participate in the investigation. The law firm is offering its services on a contingency fee basis, seeking reimbursement for expenses and attorney fees only if successful.

Bronstein, Gewirtz & Grossman, is investigating potential claims against Franklin Resources, Inc. (NYSE: BEN) on behalf of investors. The investigation follows news that Franklin subsidiary Western Asset Management Company's co-Chief Investment Officer Ken Leech received a Wells Notice from the SEC and is on immediate leave of absence. Additionally, federal prosecutors are reportedly investigating possible 'cherry-picking' practices at Western Asset Management.

Following this news, Franklin's stock price fell $2.84 per share (12.56%) on August 21, 2024. Investors who purchased Franklin securities are encouraged to participate in the investigation. The law firm is offering its services on a contingency fee basis, seeking reimbursement for expenses and fees only if successful in recovering damages for investors.

Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) has announced a portfolio management team update. Effective August 21, 2024, Messrs. Michael Buchanan and Frederick Marki will be responsible for the day-to-day oversight of the Fund. Investors can find more information by calling Fund Investor Services at 1-888-777-0102 or visiting the Fund's website at www.franklintempleton.com/investments/options/closed-end-funds.

The Fund's shares are traded on the New York Stock Exchange. Like stocks, Fund share prices fluctuate with market conditions and may be worth more or less than the original investment at the time of sale. Closed-end fund shares often trade at a discount to their net asset value, potentially increasing an investor's risk of loss. All investments carry risk, including the possibility of loss.

Franklin Templeton has been reselected by The New Jersey Higher Education Student Assistance Authority (HESAA) as the program manager for the New Jersey Better Educational Savings Trust (NJBEST) program. This includes the NJBEST 529 College Savings Plan for New Jersey residents and the Franklin Templeton 529 College Savings Plan available nationwide. Over the past 10 years, total assets under management for NJBEST's state and national program increased by more than 57%, with the number of beneficiaries increasing by 15%. The program serves over 165,000 families nationally, managing more than 260,000 plan accounts and over $6.8 billion in assets as of June 30, 2024.

Franklin Templeton is committed to providing affordable savings options, with accounts starting at just $25. The company plans to simplify the plans to a single target enrollment year glide path and further reduce investor expenses. Both NJBEST and Franklin Templeton 529 plans rank #1 for 3-year performance according to Saving for College. Ascensus has been selected as the sub-contracted recordkeeper for the program, bringing expertise in 529 education savings administration.

Franklin Templeton announced the successful closing of its second enterprise technology growth equity fund, managed by Franklin Venture Partners. The fund focuses on mid- to late-stage venture companies in the enterprise technology space, targeting those well-positioned for an IPO. Franklin Venture Partners, based in Silicon Valley, leverages both public and private market perspectives, making it an attractive partner for founders aiming for an IPO.

The team, led by Ryan Biggs, James Cross, and Robert Stevenson, has deployed over $3 billion across 95 companies since 2014. They manage private equity funds focused on high-growth categories including industrial, enterprise, space, and defense technology. Franklin Venture Partners is part of Franklin Equity Group, which has over 75 years of experience and manages over $130 billion in assets.

Franklin Templeton has announced the availability of its equity separately managed account (SMA) models on Orion's platforms, including Orion Communities and Orion Portfolio Solutions (OPS). This move provides advisors using Orion's platforms with access to Franklin Templeton's diverse SMA product suite, leveraging expertise from specialist investment managers such as ClearBridge Investments, Putnam Investments, Martin Currie, and Royce Investment Partners.

The integration aims to enhance flexibility and investment options for advisors, aligning with Orion's mission to build a thriving wealth-tech community. Franklin Templeton, a leading provider in the SMA industry, offers a comprehensive range of strategies across asset classes, with over $137 billion in SMA assets under management as of March 31, 2024.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1.66 trillion at July 31, 2024, a slight increase from $1.65 trillion at June 30, 2024. The growth was attributed to positive market impact, partially offset by modest long-term net outflows. The company's AUM breakdown shows:

• Equity: $603.7 billion
• Fixed Income: $571.3 billion
• Alternative: $254.9 billion
• Multi-Asset: $171.7 billion
• Cash Management: $61.5 billion

Notably, the total AUM has grown significantly from $1.45 trillion in July 2023, with substantial increases in equity and fixed income assets.

Franklin Templeton and the Arbitrum Foundation have announced that the Franklin OnChain U.S. Government Money Fund (FOBXX) is now available on the Arbitrum blockchain, a leading Ethereum Layer 2 solution. This collaboration aims to bridge traditional and decentralized finance, allowing investors to access FOBXX through digital wallets via the Benji Investments platform. Franklin Templeton's move to integrate with Arbitrum expands FOBXX's compatibility within the digital assets ecosystem, potentially reaching a new audience.

FOBXX, launched in 2021, is notable as the first U.S.-registered fund to use a public blockchain for transaction processing and share ownership recording. This expansion into the Arbitrum ecosystem is part of Franklin Templeton's ongoing efforts in blockchain technology and digital assets, which began in 2018. The firm views this partnership as a significant step in enhancing its asset management capabilities with blockchain technology.

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.