Adds Complementary Investment Capabilities with
Scale and Strong Performance
Accelerates Franklin Templeton’s Growth in the
Retirement Sector and Significantly Increases Franklin Templeton’s
Defined Contribution AUM to Over $100 Billion
Franklin Resources, Inc. [NYSE:BEN], a global investment
management organization operating as Franklin Templeton, today
announced the successful completion on January 1, 2024 of its
acquisition of Putnam Investments (“Putnam”) from Great-West
Lifeco, Inc. (“Great-West”). Per the terms of the transaction,
Great-West becomes a long-term shareholder in Franklin Resources,
Inc., consistent with Great-West’s continuing commitment to asset
management.
“With complementary capabilities and a track record of strong
investment performance, Putnam expands our ability to offer more
choice to more clients,” said Jenny Johnson, President and CEO of
Franklin Templeton. “The addition of Putnam accelerates our growth
in the retirement sector by increasing our defined contribution AUM
and expands our insurance assets, further strengthening our
presence in these key market segments to better serve all our
clients. Putnam also shares our client-focused culture and emphasis
on delivering strong investment results. We’re delighted to welcome
the talented team at Putnam to Franklin Templeton and are pleased
to have Great-West as an investor.”
Founded in 1937, Putnam is a global asset management firm with
$142 billion1 in AUM as of November 30, 2023. The transaction adds
a target date fund range and complementary investment capabilities
with scale, including in the areas of stable value, ultra short
duration and large cap value. Consistent with Franklin Templeton’s
previous acquisitions, the execution plan is designed to minimize
disruption to Putnam’s investment teams and client relationships.
Franklin Templeton’s global infrastructure will enhance Putnam’s
investment, risk management, operations and technology
capabilities. The addition of Putnam brings Franklin Templeton’s
AUM to $1.55 trillion as of November 30, 2023.
1. Excludes AUM from PanAgora, which was not a party to the
transaction.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating as Franklin
Templeton and serving clients in over 150 countries. Franklin
Templeton’s mission is to help clients achieve better outcomes
through investment management expertise, wealth management and
technology solutions. Through its specialist investment managers,
the company offers specialization on a global scale, bringing
extensive capabilities in fixed income, equity, alternatives and
multi-asset solutions. With more than 1,300 investment
professionals, and offices in major financial markets around the
world, the California-based company has over 75 years of investment
experience and over $1.4 trillion in assets under management as of
November 30, 2023. For more information, please visit
franklinresources.com.
Forward-Looking Statements
Statements in this press release that are not historical facts
are “forward-looking statements” within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. When used in this
press release, words or phrases generally written in the future
tense and/or preceded by words such as “will,” “may,” “could,”
“expect,” “believe,” “anticipate,” “intend,” “plan,” “seek,”
“estimate,” “preliminary” or other similar words are
forward-looking statements.
Various forward-looking statements in this press release relate
to the strategic relationship between Franklin Resources, Inc.
(“Franklin”), Great-West, the Power Group of Companies and the
acquisition by Franklin of Putnam from Great-West including
regarding expected growth, client and stockholder benefits, key
assumptions, revenue realization, financial benefits or returns.
accretion and integration costs. Forward-looking statements involve
a number of known and unknown risks, uncertainties and other
important factors, some of which are listed below, that could cause
actual results and outcomes to differ materially from any future
results or outcomes expressed or implied by such forward-looking
statements. Important transaction related and other risk factors
that may cause such differences include: (i) the occurrence of any
event, change or other circumstances that could give rise to the
termination of the strategic relationship; (ii) Franklin, Putnam,
Great-West or Power Group of Companies could experience financial
or other setbacks if the transaction or strategic relationship
encounters unanticipated problems; and (v) anticipated benefits of
the acquisition or the strategic relationship, including the
realization of revenue, accretion, and financial benefits or
returns, may not be fully realized or may take longer to realize
than expected.
Forward-looking statements involve a number of known and unknown
risks, uncertainties and other important factors that may cause
actual results and outcomes to differ materially from any future
results or outcomes expressed or implied by such forward-looking
statements, including market and volatility risks, investment
performance and reputational risks, global operational risks,
competition and distribution risks, third-party risks, technology
and security risks, human capital risks, cash management risks, and
legal and regulatory risks. For a detailed discussion of other risk
factors, please refer to Power’s and Great-West’s recent filings
with Canadian securities regulators, which are available for
viewing at www.sedarplus.com, and Franklin’s recent filings with
the U.S. Securities and Exchange Commission (“SEC”), including,
without limitation, those discussed under the headings “Risk
Factors” and “Quantitative and Qualitative Disclosures About Market
Risk” in Franklin’s most recent Annual Report on Form 10-K and
subsequent periodic and current reports.
Any forward-looking statement made in this press release speaks
only as of the date on which it is made. Factors or events that
could cause actual results to differ may emerge from time to time,
and it is not possible for us to predict all of them. Franklin,
Putnam, Great-West and Power Group undertake no obligation to
publicly update any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as may
be required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240101741067/en/
Franklin Resources, Inc. Investor Relations: Selene Oh, (650)
312-4091, selene.oh@franklintempleton.com Corporate Communications:
Stacey Coleman, (650) 525-7458,
stacey.coleman@franklintempleton.com Rebecca Radosevich, (212)
632-3207, rebecca.radosevich@franklintempleton.com
Franklin Resources (NYSE:BEN)
Gráfico Histórico do Ativo
De Abr 2024 até Mai 2024
Franklin Resources (NYSE:BEN)
Gráfico Histórico do Ativo
De Mai 2023 até Mai 2024