Franklin Resources, Inc. - BEN STOCK NEWS

Fiduciary Trust International announced that Freda Lam Zietlow, CFA, has been recognized as one of the '100 Most Influential Women of 2024' by the Silicon Valley Business Journal. Freda Zietlow, who serves as managing director and senior portfolio manager at Fiduciary Trust, a subsidiary of Franklin Templeton, was honored for her significant contributions to the wealth management industry and her community engagement. This nomination highlights her leadership and influence within Silicon Valley.

Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) announced its estimated sources of distributions for June 2024 and the fiscal year-to-date. As of May 31, 2024, the distribution per share for June is $0.0605, fully derived from net investment income. Year-to-date, the distribution per share is $0.3630, also entirely from net investment income. The Fund highlights that these distributions may include a return of capital. Average annual total return for the five-year period ending May 31, 2024, is 1.84%, with an annualized distribution rate of 7.32% and a cumulative total return of 3.70%. The Fund's managed distribution policy aims to provide consistent monthly payouts, which may include net investment income, realized capital gains, and return of capital. Shareholders will receive Form 1099-DIV for tax reporting. The Fund's Board may alter the distribution policy, impacting share prices.

Franklin Templeton has launched a suite of tax-managed separately managed account (SMA) strategies on UBS Wealth Management’s platforms, leveraging Canvas Custom Indexing to improve after-tax returns. This includes new offerings from ClearBridge Investments and Franklin Managed Options Strategies (Franklin MOST) team. The active and passive SMA strategies provide personalized portfolio solutions with digital account management. Franklin Templeton aims to enhance its presence in the SMA market, boasting over $137 billion in SMA assets as of March 31, 2024, and is committed to delivering innovative solutions for advisors catering to high-net-worth clients.

Fiduciary Trust International, a subsidiary of Franklin Templeton, has welcomed Laura C. Pease and James T. Farmer to its Atlanta office. Both are seasoned professionals from Bank of America Private Bank, with Pease joining as managing director and senior trust officer and Farmer as managing director and senior portfolio manager. Their addition enhances Fiduciary Trust International's strategy to expand its presence in the Southeast region. Pease brings over three decades of industry experience, including leadership roles at Bank of America, Wachovia Bank, and Truist. Farmer has over 15 years of experience in investment advisory, having previously worked at Calibre Family Office and Offitbank. This move aligns with Fiduciary Trust International's mission to deliver superior wealth management solutions and build its brand in key growth markets.

Franklin Templeton has released its annual Corporate Social Responsibility (CSR) Report for fiscal year 2023. The report highlights the firm's efforts in six key areas: stewardship and sustainable investing, environment, diversity, equity, and inclusion (DE&I), employee experience, community engagement, and responsible corporate practices.

The CSR report also includes sustainability data in accordance with the Sustainable Accounting Standards Board (SASB) and Global Reporting Initiative (GRI) frameworks.

The full report is available on the Corporate Social Responsibility page of the Franklin Resources website.

Franklin Templeton has completed the reorganization of the ClearBridge All Cap Growth ESG ETF (CACG) into the ClearBridge Large Cap Growth ESG ETF (LRGE).

This reorganization involved transferring nearly all assets of CACG to LRGE, with CACG shareholders receiving LRGE shares equivalent to the net asset value of their CACG investments as of June 14, 2024.

Approved by the funds' boards of trustees on February 29, 2024, the reorganization did not require shareholder approval. LRGE focuses on long-term capital appreciation by investing in large-cap companies with strong ESG attributes and the potential for significant earnings growth.

Fiduciary Trust International, a wealth management firm and subsidiary of Franklin Templeton, has appointed Erica B. Landeros as trust counsel in their New York office. Landeros brings extensive experience in estate planning, tax planning, and trust administration, having previously served as managing director and regional fiduciary advisor at Bank of America Private Bank. Her role will focus on strengthening holistic estate and wealth transfer plans for clients in the Greater New York region. This appointment follows other recent hires aimed at expanding the firm's New York headquarters.

Franklin Templeton Institute's latest Global Investment Management Survey reveals increased optimism among professional investors regarding the U.S. economy, citing a strong stock market, declining inflation, low unemployment, and strong corporate balance sheets.

The survey, conducted in May, involved over 250 senior investment professionals from various global teams. Key findings include expectations of 2.3% GDP growth in 2024, stable inflation at around 2.9%, and low unemployment rates. The Federal Reserve is expected to make one or two interest rate cuts instead of four as previously predicted.

Internationally, respondents are more positive about Europe's economic growth and predict that India, Japan, and China will outperform the U.S. equity market in 2024.

Despite the positive outlook, respondents note that the S&P 500 Index is considered expensive with upside. Favored sectors include technology, industrials, energy, health care, and financials. Fixed income investments are expected to hinge on Fed policies and geopolitical factors. Alternative investments like private equity and real estate debt also remain attractive.

Franklin Resources, known as Franklin Templeton, reported a preliminary month-end assets under management (AUM) of $1.64 trillion at May 31, 2024. This marks an increase from $1.60 trillion at April 30, 2024. The rise in AUM is attributed to positive market impacts, despite modest long-term net outflows.

By asset class, the AUM figures are as follows (in USD billions): Equity at $583.9, Fixed Income at $563.6, Alternative at $256.9, and Multi-Asset at $166.9. The total long-term AUM is $1.571 trillion, while Cash Management accounts for $64 billion. Comparatively, the total AUM was $1.455 trillion at December 31, 2023, and $1.404 trillion at May 31, 2023.