Finance & Business

Franklin Distributors, Inc, an investment firm in New York, was set up in the year 1947. It later became Franklin Resources Inc. The firm is listed on the NYSE. It carries the ticker BEN. The ticker is actually an abbreviation of Benjamin Franklin. The reason behind using such a ticker is that the founder of Franklin, Rupert Johnson, Sr., had deep admiration for Benjamin. Hence the firm uses such a ticker. Franklin changed base from New York to San Mateo, California in the year 1973.

Franklin’s acquisition bid got into its fold Templeton, Galbraith & Hansberger Ltd. The process was completed in the year 1992, when the common name Franklin Templeton was instituted. The firm saw the merger of Heine Securities Corporation with it in the year 1996. Heine was known for its Mutual Series of funds.

Franklin continued its acquisition spree to make a foray into the Canadian market. As part of this strategy, it brought into its fold Bissett Funds in 2000. It proved to be a successful move as the acquired company became Franklin’s key brand in the Canadian market. Fiduciary Trust Company was also taken over as part of its acquisition policy. This happened in the year 2001.

Mutual funds

More than 100 types of open-ended mutual funds and seven closed-end funds exist in the fund kitty of Franklin Templeton. As many as 36 income funds, which are free from taxation by the state and federal authorities, are offered by Franklin Templeton. The firm is a pioneer in this area of investment.

Templeton Growth Fund, Inc., reportedly the world’s largest equity fund, Mutual Shares fund and Mutual Discovery Fund are among the options offered by Franklin Templeton. The Franklin Income Fund was created in 1948. Since then, it has paid dividends uninterrupted for 60 long years. The fund is essentially made up of dividend-paying bonds and stocks.

Franklin Templeton stepped into the Asia Pacific region way back in late 1980s. Today Franklin Templeton offices can be found in China (mainland and Hong Kong), Japan, India, Korea, Singapore and Australia. Local asset management capabilities of the firm are currently based in Canada, Brazil, China, India, Korea, Japan and UAE.
Popular in managing mutual funds, Franklin Templeton offers products under the brand name of Franklin, Templeton, Mutual Series and Fiduciary brand series. Like the other investment companies, the firm offers a wide range of funds but it is widely known for bond funds under the Franklin brand, international funds under the Templeton brand, and value funds under the Mutual Series brand.
Franklin Templeton also sponsors a tennis tournament named as Franklin Templeton Classic.

Franklin Investment India Plan

Franklin Templeton Investment India is based out in Hyderabad, which has now come as their single largest center outside its US facility near California. Franklin Templeton Investment India is planning to decentralize and open some more retails in Chennai and Mumbai also. They are also planning to expand its base to IT services based out in Hyderabad, with an investment of a minimum of million. They also have planned to increase it to a -million facility, which can employee 1,800 people