Franklin Templeton Completes Acquisition of Putnam Investments

Core Viewpoint - Franklin Resources, Inc. has successfully completed the acquisition of Putnam Investments from Great-West Lifeco, enhancing its capabilities in the asset management sector and expanding its presence in key market segments [1][2]. Group 1: Acquisition Details - The acquisition was finalized on January 1, 2024, with Great-West becoming a long-term shareholder in Franklin Resources, reflecting its ongoing commitment to asset management [1]. - Putnam, with $142 billion in assets under management (AUM) as of November 30, 2023, adds a target date fund range and complementary investment capabilities to Franklin Templeton [2]. - Following the acquisition, Franklin Templeton's total AUM increases to $1.55 trillion as of November 30, 2023 [2]. Group 2: Strategic Benefits - The addition of Putnam is expected to accelerate growth in the retirement sector by increasing defined contribution AUM and expanding insurance assets [2]. - Franklin Templeton aims to enhance Putnam's investment, risk management, operations, and technology capabilities through its global infrastructure [2]. - The acquisition aligns with Franklin Templeton's client-focused culture and commitment to delivering strong investment results [2].