Welcome to our dedicated page for Franklin Resources news (Ticker: BEN), a resource for investors and traders seeking the latest updates and insights on Franklin Resources stock.
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.
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.
Western Asset Inflation-Linked Opportunities & Income Fund (NYSE: WIW) has announced its distribution sources for July 31, 2024, and fiscal year 2024 to date. The Fund's July monthly distribution of $0.0605 per share is entirely sourced from net investment income. For the fiscal year-to-date, the cumulative distribution of $0.4235 per share is also 100% from net investment income.
The Fund's performance metrics as of June 30, 2024, include an average annual total return of 1.23% over 5 years, an annualized distribution rate of 7.38%, and a cumulative total return of 3.49% for the fiscal period. WIW operates under a managed distribution policy, aiming to deliver long-term total return potential through regular monthly distributions.
Pacific Life and Franklin Templeton have announced a strategic partnership to deliver a defined contribution lifetime income solution for retirement plans. This collaboration combines Pacific Life's Income Horizon™ with Franklin Templeton's Goals Optimization Engine (GOE®) to offer a personalized income approach within Collective Investment Trusts (CITs).
The solution allows plan participants to convert part of their retirement savings into a guaranteed income stream for life within their existing plan. It addresses key concerns highlighted in recent studies, including the preference for incremental lifetime income purchases over time. The framework integrates participant data and machine learning to provide personalized recommendations, offering advantages such as competitive pricing, fiduciary oversight, and portability.
Franklin Templeton has successfully diverted 100% of its no-longer-needed office furniture from landfills during recent office upgrades in San Mateo, Rancho Cordova, and Stamford. This initiative was made possible through a partnership with Green Standards, a non-profit focused on furniture reuse. The company's approach involved repurposing, recycling, and reselling furniture items.
Key highlights:
- 100% of unused furniture was diverted from landfills
- Metal furniture is recycled into new materials
- Wood furniture is recycled for agricultural use or alternative city ground cover
- In Stamford, 86% of furniture was reused or recycled, 12% resold, and 2% donated
This effort aligns with Franklin Templeton's commitment to sustainability and reducing its environmental footprint. The company plans to continue these practices in future global projects.
FAQ
What is the current stock price of Franklin Resources (BEN)?
What is the market cap of Franklin Resources (BEN)?
What is Franklin Resources, Inc.?
How many assets does Franklin Templeton manage?
What types of clients does Franklin Templeton serve?
What is the focus of ClearBridge Investments?
How does Franklin Templeton contribute to ESG initiatives?
What are some recent achievements of ClearBridge Investments?
Where does Franklin Templeton operate?
How does Franklin Templeton ensure diversity and inclusion?
What is the mission of Franklin Templeton?
How does Franklin Templeton support the U.N. Sustainable Development Goals (SDGs)?
