Deals
Franklin Pins Its Hopes for a Turnaround on Technology and Deals
- Fund firm stashes cash for deals, preps technology incubator
- Assets are well off the peak and Wall Street ratings are low
Franklin Resources Inc. signage is displayed outside the New York Stock Exchange in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
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.