FRANKLIN RESOURCES INC Profile
Franklin Resources Inc. is a holding company that, when grouped with its various subsidiaries, is also known as Franklin Templeton Investments. The company was founded in 1847 by Rupert Johnson, Sr., who named the company after Benjamin Franklin because he wanted the company values to reflect Franklin’s “ideas of frugality and prudence when it came to saving and investing.” His son, Charles Johnson, would take over as CEO in 1957, slowly building the company until it went public in 1971, giving the company enough capital to facilitate growth. Just two years later, it would acquire Winfield & Company, bringing total assets under management to close to a quarter billion. Franklin Money Fund, the company’s first billion-dollar fund, would be launched in 1979, reflecting tremendous growth that would continue through the 1980s. From just 1982 to 1987, the assets under management for Franklin would grow from $2 billion to over $40 billion with a heavy emphasis on fixed income investments, which management would address. The 1990s would mark a period of diversification, expanding globally throughout Europe and Asia. In 1992, the company acquired Templeton, Galbraith & Hansberger Ltd., leading to the same of Franklin Templeton. Today the company specializes in conservatively managed mutual funds, offering products under Franklin, Templeton, Mutual Series and Fiduciary. It has over 200 different mutual funds, some notable ones including the Templeton Growth Fund, Mutual Shares Fund, Mutual Discovery Fund. And Templeton Growth (Euro) Fund A. Franklin Resources now has over 8 thousand employees all around the globe with offices in 35 countries and clients in over 150 countries, generating revenues of over $8 billion with total assets from over 25 million private, professional, and institutional investors amounting to over $15 billion. In 2013, the chairman Charlie Johnson retired with Greg Johnson replacing him to become the chairman and CEO.