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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's Western Asset Diversified Income Fund has successfully raised $1 billion in its IPO by selling 50 million shares at $20 each. Trading commenced on June 25, 2021, under the symbol WDI, with the offering expected to close on June 29, 2021. The Fund aims for high current income and capital appreciation, leveraging Western Asset's extensive $476.3 billion in AUM. The underwriters also have an option to purchase an additional 6,833,830 shares, potentially raising total funds to about $1.137 billion.
Franklin Limited Duration Income Trust (FTF) declared a monthly distribution of $0.0780 per common share, payable on July 15, 2021, to shareholders of record as of June 30, 2021. This follows the Fund's managed distribution plan, which provides a fixed annual minimum rate of 10% based on the average monthly net asset value (NAV). The Fund may distribute long-term capital gains or return of capital if sufficient investment income is unavailable. The plan's terms can be amended or terminated at any time, potentially affecting market prices.
Franklin Universal Trust (NYSE: FT) has announced a distribution of $0.0425 per share, slated for payment on July 15, 2021. Shareholders of record by June 30, 2021 will be eligible, with an ex-dividend date of June 29, 2021. The amount of future distributions may vary based on the trust's net investment income. Investors are advised that past distributions are not indicative of future results and to be aware of the risks associated with investments, including potential loss of principal.
Fiduciary Trust International has appointed Brian D. Conboy as the new director of estate administration and trust counsel. Conboy, who joined the firm in 2016, previously served as managing director, overseeing complex trusts and estates. His leadership aims to enhance the firm’s estate administration services, ensuring the protection and proper transition of clients' estates. With over $94 billion in assets under management, Fiduciary Trust continues to expand its expertise in trust and estate services. Conboy holds a JD from Hofstra University and has a robust background in estate planning.
The Franklin Limited Duration Income Trust (FTF) declared a dividend of $0.0783 per common share, payable on June 15, 2021. This includes $0.0366 per share from net investment income and $0.0417 from return of principal. The Trust's managed distribution plan aims for a fixed annual rate of 10% based on average monthly net asset value (NAV). Distributions may include capital gains or return of capital if investment income is insufficient. The plan is subject to Board review and may be amended or terminated without notice.
Franklin Templeton's Voice of the American Worker Survey reveals that 82% of respondents believe retirement paths are diversifying, with 88% agreeing there is no single way to retire. The survey emphasizes the importance of integrating financial, mental, and physical health, with 74% associating financial wellbeing with overall wellness. Workers favor holistic financial resources, reflecting a demand for programs that guide financial independence. Conducted by The Harris Poll, the survey involved 1,007 employed U.S. adults and aligns with Franklin Templeton's Retirement Innovation Initiative aimed at enhancing retirement strategies.
Franklin Resources, Inc. (NYSE: BEN) reported that its preliminary month-end assets under management (AUM) reached $1,543.5 billion on May 31, 2021, up from $1,529.3 billion on April 30, 2021. The growth in AUM was driven by favorable market conditions and cash management net inflows, although partially offset by long-term net outflows totaling approximately $300 million from India credit funds in liquidation. As of May 31, the remaining AUM in these funds stood at $1.7 billion.
Franklin Resources, Inc. (NYSE: BEN) announced a quarterly cash dividend of $0.28 per share, payable on July 15, 2021, to stockholders of record by June 30, 2021. This dividend reflects a 4% increase compared to the same quarter last year, aligning with the amount paid in the prior quarter. Franklin Resources operates globally, providing investment management services and managing over $1.5 trillion in assets as of April 30, 2021.
Templeton Emerging Markets Income Fund (NYSE: TEI) announced a monthly distribution of $0.0597 per share, payable on June 30, 2021, to shareholders of record by June 15, 2021. The Fund's Board has authorized a managed distribution plan, ensuring a fixed minimum annual distribution rate of 8.5% based on average monthly net asset value. This plan aims to narrow the market price discount to NAV, though success is not guaranteed. Distributions may include long-term capital gains or return of capital if net ordinary income is not sufficient.
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