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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.
Franklin Templeton and Clarion Partners are celebrating the five-year anniversary of the Clarion Partners Real Estate Income Fund Inc. (CPREX), a closed-end tender offer fund providing individual investors access to institutional-quality private real estate. CPREX focuses on stable, cash flow-producing properties in U.S. markets with favorable growth prospects, with 89% of its portfolio in industrial warehouse, rental housing, and healthcare-related properties.
The fund has experienced continued net inflows during a period of slow real estate fundraising, allowing for new property acquisitions. Clarion Partners, CPREX's sub-adviser, manages over $74 billion in real estate assets as of June 30, 2024. The fund's strategy balances income and long-term capital appreciation, investing in both real estate private equity and private debt.
Franklin Templeton's alternatives business, including Clarion, represents approximately 16% of the firm's $1.65 trillion in assets under management. The alternative investment market has seen significant growth, with U.S. registered funds investing in private equity, private credit, and real estate nearly tripling from $110.6 billion in 2016 to $299.3 billion in 2023.
Western Asset Inflation-Linked Opportunities & Income Fund [NYSE: WIW] has announced its distribution sources for September 30, 2024, and the fiscal year 2024 to date. The Fund's September monthly distribution is $0.0605 per share, entirely sourced from net investment income. The cumulative fiscal year-to-date distribution is $0.5445 per share, also fully derived from net investment income.
Key performance metrics as of August 31, 2024, include:
- Average Annual Total Return (5-year): 1.61%
- Annualized Distribution Rate: 7.29%
- Cumulative Total Return (fiscal period): 6.03%
- Cumulative Fiscal Year-To-Date Distribution Rate: 5.47%
The Fund operates under a managed distribution policy, aiming to deliver long-term total return potential through regular monthly distributions. Distributions may come from various sources, including returning capital. Shareholders are advised that a return of capital reduces their tax basis in Fund shares.
Franklin Templeton (NYSE: BEN) has announced the appointment of Todd Bitzer, Emily Cox, and Andre Cuerington as Senior Vice Presidents and Client Advisors for US Institutional. They will focus on building and managing partnerships with institutional clients. Bitzer is based in Atlanta, Cox in Southern California (serving as an Alternative Specialist), and Cuerington in Northern California. This move aligns with the growing institutional interest in private markets, expected to reach $23.7 trillion by 2028. Franklin Templeton has been expanding its private markets capabilities, becoming one of the top 10 largest alternatives managers with over $250 billion in assets under management. The company aims to provide customized offerings across both public and private investment markets to help clients achieve their objectives.
Franklin Templeton Fund Adviser, has announced distributions for certain closed-end funds for September, October, and November 2024. The distributions are part of their managed distribution policy. Key details include:
- Western Asset Inflation-Linked Income Fund (WIA) will distribute $0.05000 per share each month
- Western Asset Inflation-Linked Opportunities & Income Fund (WIW) will distribute $0.06050 per share each month
- Distribution dates are set for the last day of each month
- Both funds estimate 100% of distributions to come from income for the fiscal year ending November 30
The company notes that distributions may include long-term capital gains or return of capital if sufficient income is not available. Shareholders are advised not to draw conclusions about fund performance from these distributions.
Franklin Resources, Inc. (NYSE: BEN) reported preliminary month-end assets under management (AUM) of $1.68 trillion at August 31, 2024, up from $1.66 trillion at July 31, 2024. The increase was attributed to positive market impact, partially offset by long-term net outflows of $6.3 billion. Western Asset Management experienced $7.7 billion in long-term net outflows. By asset class, Equity AUM rose to $618.8 billion, Fixed Income to $574.5 billion, while Alternative AUM decreased to $251.2 billion. Multi-Asset and Cash Management AUM also saw increases. The company's Macro Opportunities strategy, which is closing, had $1.1 billion AUM and $0.9 billion net outflows in August.
Franklin Templeton has announced the liquidation of ClearBridge Focus Value ESG ETF (CFCV), set to occur around November 5, 2024. Key dates include:
- September 5, 2024: Board approval of liquidation
- October 8, 2024: Last day for creation orders
- October 29, 2024: Final trading day on Cboe BZX Exchange
- October 30, 2024: Trading halted, portfolio liquidation begins
- November 5, 2024: Estimated date for distribution of liquidation proceeds
Shareholders can sell their shares until market close on October 29, 2024. Those who don't sell will receive cash equal to the net asset value of their shares, including capital gains and dividends. The liquidation may have tax implications, and shareholders are advised to consult their tax advisors.
Franklin Templeton has announced the planned reorganization of the Western Asset Total Return ETF (WBND) into the Western Asset Bond ETF (WABF). This process involves transferring WBND's assets to WABF in exchange for WABF shares, which will be distributed to current WBND shareholders. The reorganization is subject to shareholder approval at a meeting scheduled for December 13, 2024. If approved, the reorganization is expected to be completed in the first quarter of 2025. Shareholders of WBND are anticipated to receive a combined prospectus/proxy statement with reorganization details in the fourth quarter of 2024.
Western Asset Inflation-Linked Opportunities & Income Fund [NYSE: WIW] has announced its distribution details for August 30, 2024, and the fiscal year 2024. The Fund's estimated distribution per share is $0.0605, entirely sourced from net investment income. For the fiscal year-to-date, the cumulative distribution is $0.4840 per share, also fully attributed to net investment income.
The Fund's performance metrics include an average annual total return of 1.44% over the past 5 years, an annualized distribution rate of 7.30%, and a cumulative total return of 5.19% for the current fiscal period. The Fund operates under a managed distribution policy, aiming to deliver long-term total return potential through regular monthly distributions.
Franklin Templeton has received a top score of 100 in the 2024 Disability Equality Index® (DEI), earning the distinction of 'Best Place to Work for Disability Inclusion' for the sixth consecutive year. The DEI is a comprehensive benchmarking tool that helps companies foster disability inclusion.
Regina Curry, Chief Diversity Officer at Franklin Templeton, expressed pride in the recognition of their efforts to promote disability inclusion in the workplace and beyond. The DEI, a joint initiative of Disability:IN and the American Association of People with Disabilities (AAPD), evaluated companies across five categories: Culture & Leadership, Enterprise-Wide Access, Employment Practices, Community Engagement, and Supplier Diversity.
The 2024 DEI saw participation from 542 national and international companies, with those scoring 80 or higher earning the 'Best Places to Work for Disability Inclusion' distinction.
Franklin Resources, Inc. (NYSE:BEN) has announced a quarterly cash dividend of $0.31 per share, payable on October 11, 2024 to stockholders of record as of September 30, 2024. This dividend amount is equivalent to the previous quarter's payout and represents a 3.3% increase compared to the same quarter last year. The consistent dividend payout and year-over-year increase demonstrate Franklin Resources' commitment to shareholder returns and may indicate financial stability.
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