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The Franklin Limited Duration Income Trust [NYSE:FTF] (CUSIP 35472T101) has declared a dividend of $0.0852 per common share payable October 15, 2019, to shareholders of record as of September 30, 2019. It is currently estimated that $0.0435 per share represents net investment income and $0.0417 per share represents return of principal. The Fund adopted a managed distribution plan and will make monthly distributions to common shareholders at an annual minimum fixed rate of 10 percent, based on the average monthly net asset value (NAV) of the Fund’s common shares. The plan is intended to provide shareholders with a constant, but not guaranteed, fixed minimum rate of distribution each month and is intended to narrow the discount between the market price and the NAV of the Fund’s common shares, but there is no assurance that the plan will be successful in doing so.
EvoNexus, Southern California’s most successful technology startup incubator, is pleased to announce it has expanded to Silicon Valley with the opening of a Fintech Incubator, with founding sponsor Franklin Templeton. The new incubator will be housed at a 13,000 square-foot facility in San Mateo on Franklin Templeton’s campus, about 20 miles south of San Francisco. The Silicon Valley incubator, like the other EvoNexus locations in San Diego and Orange County, is a non-profit organization.
Is Franklin Resources, Inc. (NYSE:BEN) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after […]
SAN MATEO, Calif., Oct. 11, 2019 -- On Friday, October 25, 2019 at approximately 8:30 a.m. Eastern Time, Franklin Resources, Inc. (the “Company”) will release its.
(Bloomberg) -- Its business model is out of fashion. Its fund family has suffered six straight years of outflows. Its stock has the lowest Wall Street ratings of any major money manager.No wonder Franklin Resources Inc.’s shares are down 48% in the last five years, and the firm, which oversaw $693 billion as of Sept. 30, has lost almost a quarter of a trillion dollars in assets since its 2014 peak.Instead of hitting the panic button, the company is betting that new technology and an $8.5 billion cash hoard for acquisitions can engineer a turnaround. Franklin is opening a financial technology incubator next week at its San Mateo, California, headquarters. And it will be savvy in hunting for deals that spur growth, according to Jenny Johnson, president and chief operating officer.“We’re going to be patient and make sure it’s the right thing to do,” she said in an interview.Johnson, whose grandfather started Franklin in 1947 and named it for an American founding father, only needs to look out her Silicon Valley office window to see how tech disrupts established businesses. Across the investing world, robo-advisers, index funds and zero-fee trades are undercutting revenue.With her brother, Chief Executive Officer Greg Johnson, she’s trying to bring the spirit of innovation inside the firm’s granite clad colonial-style buildings.On Oct. 15, Franklin will hold a ribbon-cutting for the fintech incubator on its leafy campus. In a shared work space, representatives from early-stage firms in payments, cybersecurity and other specialties will be side by side. For the host, it’s a chance to get early looks at ideas, talent and potential acquisitions, according to Rory Moore, CEO of Franklin’s partner in the operation, startup mentor EvoNexus.Random Forest“They’re really worried about their future,” Moore said. “Every month, there’s a company founded somewhere in California that’s going to completely disrupt areas of financial institutions.”If not disrupt, enhance. An example is Random Forest Capital, a startup Franklin bought last year whose machine-learning tools screen massive amounts of consumer-debt data to detect credit risks that elude traditional analysis. The insights complement but won’t replace human managers, according to Sonal Desai, Franklin’s chief investment officer for fixed-income.“We’re taking big steps where our fixed-income is going to have a competitive edge,” she said.Tech advancement alone won’t salvage the money-management industry, according to Eric Jacobson, a senior analyst at Morningstar Inc.“This is the price of being in business,” he said. “It’s hard to imagine such a thing as a silver bullet.”The question is whether change can come fast enough for Franklin’s franchises in actively run international, value and income funds.Hasenstab SlumpThe Templeton Global Bond Fund, headed by high-profile manager Michael Hasenstab, trails more than 80% of peers this year, hurt by holdings in Argentina and a misplaced bet that long-term U.S. interest rates would rise. Assets dropped to $30 billion at the end of September, less than half their peak five years earlier.Since the 2008 financial crisis, Franklin’s forte as a value investor has been challenged as growth stocks generated better results. That has put the firm on the defensive but it’s not a reason to jump ship, Johnson said.“Our job is to make sure the integrity of the investment process is pure and that value guys stick to value,” she said. “That means giving them a little bit of air cover when they’re getting beaten up.”Franklin, which went public in 1971, expanded through key acquisitions such as the 1992 purchase of Templeton, Galbraith & Hansberger Ltd. More recently the firm has been slow to change. It launched exchange-traded funds in 2014, long after rivals like State Street Corp. and Vanguard Group.Still, mergers and acquisitions aren’t a cure-all for fund companies. The stocks of Invesco Ltd. and Janus Henderson Group Plc have fallen since those firms made major strategic deals.Franklin is looking for deals that would broaden its product lines, distribution capability or geographic footprint, Johnson said. Former Citigroup Inc. executive Matthew Nicholls started in May as chief financial officer with M&A bona fides cited in the hiring announcement.Analysts’ UpgradeDeal prospects, and a selloff that has left traditional asset managers cheap, spurred JPMorgan Chase & Co. analysts led by Kenneth Worthington to upgrade Franklin to neutral last month. They cited the firm’s potential to “outperform if it acquires the right franchise.”Not everyone is as sanguine. This week, BMO Capital Markets began covering Franklin with an “underperform” tag, citing ongoing fee pressures and the industrywide active-to-passive rotation. That brought Franklin’s Wall Street ratings to eight sells, seven holds and zero buys, the lowest aggregate score in Bloomberg’s index of big investment managers.Johnson is undaunted.“We run our company thinking about the clients,” she said. “And if we run our company thinking about that, we’re going to get the stock price right.”To contact the reporter on this story: John Gittelsohn in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Mirabella at email@example.com, Josh Friedman, Melissa KarshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, announces that Michael Schiff, managing director, has been elected vice chair of the Gold Coast Florida chapter of the Society of Trust & Estate Practitioners (STEP). Based in London, STEP is a global body which consists of 100 branches and chapters across 95 countries, and counts more than 20,000 attorneys, accountants, financial advisors, and other practitioners around the world as members. STEP Gold Coast Florida seeks to bring together trust and estate professionals in the South Florida region to help them keep on top of the latest international planning trends and changes in multijurisdictional law, and empower them with networking opportunities and educational resources to serve their clients effectively.
SAN MATEO, Calif., Oct. 08, 2019 -- Franklin Resources, Inc. (Franklin Templeton) (NYSE: BEN) today reported preliminary month-end assets under management of $692.6 billion at.
FORT LAUDERDALE, Fla., Oct. 03, 2019 -- Templeton Emerging Markets Income Fund today announced a monthly distribution from net investment income of $0.0579 per.
FORT LAUDERDALE, Fla., Oct. 03, 2019 -- Templeton Global Income Fund today announced a monthly distribution from net investment income of $0.0260 per share, payable.
FORT LAUDERDALE, Fla., Oct. 01, 2019 -- Templeton Global Income Fund today announced a monthly distribution from net investment income of $0.0220 per share, payable.
FORT LAUDERDALE, Fla., Oct. 01, 2019 -- Templeton Emerging Markets Income Fund today announced a monthly distribution from net investment income of $0.0419 per.
Fiduciary Trust Company International, a global wealth manager and wholly-owned subsidiary of Franklin Templeton, announces that Jennifer McCarthy has joined the firm as trust counsel and managing director based in the New York office. “Jennifer has provided personalized trust and estate planning and administration services to high-net-worth individuals and families in the Greater New York region for more than 15 years—making her an ideal addition to our team in New York,” said Lawrence A. Sternkopf, president and chief operating officer of Fiduciary Trust Company International.
The Fund adopted a managed distribution plan and will make monthly distributions to common shareholders at an annual minimum fixed rate of 10 percent, based on the average monthly net asset value (NAV) of the Fund’s common shares. The Fund will calculate the average NAV from the previous month based on the number of business days in that month on which the NAV is calculated. The distribution will be calculated as 10 percent of the previous month’s average NAV, divided by 12.
SAN MATEO, Calif., Sept. 20, 2019 -- Franklin Universal Trust , a closed-end investment company managed by Franklin Advisers, Inc., announced today a distribution of.
SAN MATEO, Calif., Sept. 18, 2019 -- Franklin Templeton today announced that six of its custom managed model portfolios have launched on Morgan Stanley Wealth Management’s.
T. Rowe Price's (TROW) preliminary assets under management (AUM) of $1.12 trillion for August 2019 reflect 1.8% decrease from the prior month.
Invesco's (IVZ) preliminary assets under management (AUM) of $1,175.1 billion for August down 2% from the prior month, affected by unfavorable market returns and foreign-exchange movements.