Franklin Templeton Targets More Assets in ETF Overhaul
- Firm is renaming some of its ETFs to align brand recognition
- Converting mutual funds to ETFs is also being explored
Jenny Johnson, president and CEO of Franklin Templeton Investments.
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Franklin Templeton Investments, the roughly $1.4 trillion asset manager known for its mutual-fund business, has its sights set on getting bigger in the cut-throat ETF market.
The San Mateo, California-based company aims to quadruple its exchange-traded funds business to $50 billion in the next three years, said Patrick O’Connor, head of global ETFs. That would put it roughly within the top 10 ETF managers, though well behind industry heavyweights Vanguard Group Inc. and BlackRock Inc., who each have at least $1.8 trillion under management. Franklin said it had $12 billion in ETF assets at the end of the first half of the year.