Franklin Templeton faces unprecedented outflows, losing over $37 billion from its troubled Western Asset Management unit amid investigations into alleged trading misconduct by co-CIO Ken Leech. The firm, once poised to benefit from falling interest rates, now struggles with reputational damage and poor performance, leading to significant client withdrawals and a projected $31 billion in net outflows for the quarter. As competitors gain traction in fixed income, Western's future remains uncertain, with many investors seeking new management options.
Franklin Resources, Inc. has received a neutral rating from UBS. The company specializes in investment fund management, with assets under management totaling USD 1,374.2 billion as of September 2023. Its operations are divided into investment services and financial services, with a significant portion of net sales generated in the United States (74.9%).
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