Franklin Resources Inc - BEN STOCK NEWS

Franklin Resources reported preliminary month-end assets under management (AUM) of $1,561.7 billion as of October 31, 2021, a rise from $1,530.1 billion in September. This growth was driven by positive market performance, despite slight long-term net outflows. The reclassification of asset classes contributed to this change, resulting in a $16.1 billion net increase in Equity AUM and a $14.1 billion net decrease in Fixed Income AUM. Overall, the company continues to focus on integrating its recent acquisitions.

Franklin Resources, Inc. (NYSE:BEN) appointed Adele Taylor as Senior Vice President and Lead of Corporate Strategy and Corporate Development, effective November 1. Taylor, who has over a decade of experience at McKinsey & Company, will enhance Franklin Templeton's strategic direction in investment management. The firm aims to capitalize on growth opportunities and integrate new technologies under Taylor's leadership. Franklin Templeton serves clients in over 165 countries and manages over $1.5 trillion in assets as of September 30, 2021.

Templeton Global Income Fund [NYSE: GIM] announced a monthly distribution of $0.0355 per share, payable on November 30, 2021, with a record date of November 15, 2021. The Fund operates under a managed distribution plan with an annual minimum fixed rate of 7.5%, aimed at providing consistent income to shareholders. However, this plan's effectiveness in reducing market price discounts to NAV is uncertain. The Board retains the right to amend or terminate the plan without prior notice, which could negatively impact share pricing.

Templeton Emerging Markets Income Fund (NYSE: TEI) has announced a monthly distribution of $0.0684 per share, payable on November 30, 2021, to shareholders on record by November 15, 2021. This distribution is part of a managed distribution plan that targets a fixed annual rate of 10% based on the Fund's average net asset value. The plan aims to provide consistent payments but may include returns of capital and is subject to review and modification by the Board. Shareholders are advised to consider the Fund's overall performance rather than just this distribution.

Franklin Resources (NYSE:BEN) has announced the acquisition of Lexington Partners, a leading manager in secondary private equity and co-investment funds, for $1.75 billion. This deal aims to enhance Franklin Templeton’s alternative asset offerings and capitalize on the growing demand for private equity investments. Lexington, with over $55 billion in commitments and a substantial AUM of $34 billion, will operate under Franklin Templeton's management with its current team. The acquisition is expected to close by the end of Q2 2022 and is projected to be immediately accretive to adjusted earnings per share.

Franklin Resources, Inc. (NYSE: BEN) reported preliminary net income of $665.7 million or $1.30 per diluted share for Q4 FY2021, up from $438.4 million or $0.86 per diluted share in Q3 FY2021 and $78.9 million or $0.15 in Q4 FY2020. For FY2021, net income reached $1,831.2 million or $3.57 per diluted share versus $798.9 million or $1.59 the previous year. Operating income was $531.5 million for the quarter and $1,875.0 million for the year. AUM decreased by 1% to $1,530.1 billion during the quarter but rose 8% year-over-year.

Templeton Global Income Fund (GIM) has announced estimated sources for its distribution set for October 29, 2021. The distribution per share is estimated at $0.0356, with 64% from net investment income, and 36% as a return of capital. For the year-to-date, cumulative distribution is $0.2869, comprising 67% from net investment income and 33% from return of capital. The fund operates under a managed distribution plan targeting a minimum 7.5% annual distribution rate, subject to future adjustments.

Franklin Resources, Inc. (NYSE:BEN) will announce its fourth quarter and fiscal year 2021 operating results on November 1, 2021, at 8:30 a.m. Eastern Time. A written commentary will also be accessible on their investor relations website. The Company will host a live teleconference at 11:00 a.m. Eastern Time with key executives, including the President and CEO, to discuss the results. With over 70 years of investment experience, Franklin Templeton manages more than $1.5 trillion in assets as of September 30, 2021, serving clients in over 165 countries.

Franklin Templeton has partnered with LDI-MAP (iJoin) to offer its Goals Optimization Engine (GOE) through iJoin’s managed account technology. This collaboration aims to provide personalized investment advice within defined contribution plans, enhancing access for plan advisors and their clients. The GOE delivers individualized portfolio pathways based on unique client goals, using dynamic programming to increase the likelihood of achieving these goals. This offering targets smaller plans that lack such personalized investment solutions.