Franklin Resources

Franklin Resources News

• Detroit Yielding 16% Drives Nuveen Bet on Repayment: Muni Credit

  Nuveen Asset Management, the second- biggest owner of Detroit’s debt, is betting emergency financial manager Kevyn Orr will come up with a recovery plan that repays bondholders in full.

• TPG’s Schifter Joins Board of Post-Merger American Air

  TPG Capital’s Richard Schifter is among five investment-oriented directors who will serve on the board of the reconstituted American Airlines after the merger of US Airways Group Inc. and AMR Corp.

• Rally Ends at U.S. Border as Mexico, Canada Trail

  Mexican and Canadian stocks are returning the least in 14 years versus the Standard & Poor’s 500 Index, a break from a history of matching or beating the benchmark gauge since the countries formed a free-trade agreement in 1994.

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  Apollo Beats KKR to Carlyle After Rally: Riskless Return

  Apollo Global Management LLC is the top-performing stock among publicly traded alternative-asset managers as Chief Executive Officer Leon Black demonstrates that reaping gains from buyout holdings while raising new investment funds is the key to pleasing stockholders.

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  Franklin Tops Fund Managers on Hasenstab: Riskless Return

  Franklin Resources Inc., benefiting from the rising popularity of top-ranked bond manager Michael Hasenstab, is the best-performing stock in the money-management business.

• Arrowgrass Joins CR Intrinsic in Opposing Freeport’s Plains Bid

  Arrowgrass Capital Partners LLP is opposing Freeport-McMoRan Copper & Gold Inc.’s takeover of Plains Exploration & Production Co. after amassing a stake in the energy company.

• Arrowgrass Said to Snub Freeport’s Bid After Buying Plains Stake

  Arrowgrass Capital Partners LLP is opposing Freeport-McMoRan Copper & Gold Inc.’s takeover of Plains Exploration & Production Co. after amassing a stake in the energy company, according to a person with direct knowledge of the matter.

• Franklin’s Profit Increases 14% on Global Market Rally

  Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said fiscal second- quarter profit rose 14 percent as gains in global stock markets increased assets under management.

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  U.S. Stocks Rise as Confidence Gains Amid Stimulus Bets

  U.S. stocks rose, sending the Standard & Poor’s 500 Index trading to another record, as consumer confidence gained and investors bet central banks worldwide will continue their efforts to stimulate the economy.

• Franklin Resources CEO Gets a 25% Raise as Assets Climb

  Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, paid Chief Executive Officer Gregory Johnson $12.3 million in fiscal year 2012, a 25 percent increase from the previous year.

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• Franklin’s Taylor Sees `Sweet Spot’ for Dividends