United States $1.6 Trillion Asset Manager Franklin Templeton Launches Singapore First Money Market Tokenized Retail Fund (Franklin Onchain U.S. Dollar Short-Term Money Market Fund) for DBS Wealth & Accredited Clients (Retail Clients Access Available from 2026 Q1) with Minimum Investment Sum of Only $20 (S$26), Uses Franklin Templeton Proprietary Benji Technology Platform (Blockchain) Which Provides Real-time Fund Data, Improved Liquidity & Daily Yield Accrual
13th November | Hong Kong
United States asset manager Franklin Templeton ($1.6 trillion AUM) has announced the launch of Singapore first money market tokenized retail fund (Franklin Onchain U.S. Dollar Short-Term Money Market Fund) for DBS wealth & accredited clients (Retail clients access available from 2026 Q1) with minimum investment sum of only $20 (S$26). The fund uses Franklin Templeton proprietary Benji technology platform (Blockchain), which provides real-time fund data, improved liquidity & daily yield accrual. Announcement (10/11/25): “Franklin Templeton, one of the largest global investment managers in the world and a pioneer in digital assets technology, today announced its collaboration with DBS Bank, Southeast Asia’s largest bank, to launch Singapore’s first money market fund with a tokenized register (“Tokenized Retail Fund”) – the Franklin Onchain U.S. Dollar Short-Term Money Market Fund[1] (the “Fund”). The Fund has received approval from the Monetary Authority of Singapore (MAS) to be offered as an authorized scheme. It is now available to DBS’ wealth clients and accredited investors through the bank’s relationship managers, with retail access expected in the first quarter of 2026. By enabling fractional ownership and lowering minimum investment thresholds, tokenized funds have the potential to democratize access to high-quality, blockchain- integrated investment strategies. Investors will be able to access the Fund with a much lower minimum investment sum of US$20. The fund utilizes Franklin Templeton’s proprietary Benji Technology Platform for blockchain- integrated recordkeeping offering investors enhanced transparency through real-time fund data, improved liquidity, daily yield accrual, and greater accessibility — benefits made possible through blockchain technology. The blockchain’s decentralized, tamper-proof system also ensures secure, transparent investment tracking. Time-tested and tech-enabled – The tokenized fund mirrors the strategy of a Luxembourg-domiciled FTIF Franklin U.S. Dollar Short Term Money Market Fund, which has delivered over 30 years of trusted performance. The newly launched tokenized fund brings this established approach to a blockchain-enabled platform, providing access to high-quality, short-term U.S. dollar assets —now enhanced by the speed, transparency, and efficiency of blockchain. Investors can enjoy liquidity, stability, and competitive returns by investing in the tokenized money market fund. By combining DBS’ robust digital infrastructure and extensive presence in Singapore with Franklin Templeton’s global expertise in tokenized assets, the parties aim to broaden investor access to tokenized funds and advance financial inclusion through innovative investment solutions … … Franklin Templeton has been an active participant in the digital asset ecosystem since 2018, developing blockchain-based technology solutions, creating a diverse range of investment strategies, and operating node validators. The Benji Technology Platform is Franklin Templeton’s proprietary blockchain-integrated stack, designed to facilitate trading, management, and administration of token-based investments. The platform is available as a white label technology for banks or asset managers to tokenize securities, or via one of several tokenized money market funds launched by Franklin Templeton, fully on-chain, that support a wide range of global client needs across retail, wealth, institutional, bank and collateral use cases. Using this platform, Franklin Templeton launched the world’s first U.S.-registered mutual fund in 2021 using blockchain-integrated technology to process transactions and record share ownership. In 2024 the firm leveraged the Benji Technology Platform to launch the first fully tokenized UCITS fund in Luxembourg, and in 2025 launched the first retail tokenized fund in Singapore.” In 2025 November, Franklin Templeton launched a tokenized USD money market fund (Franklin OnChain U.S. Government Money Fund) for professional investors in Hong Kong, with the fund generating income by investing in high quality & short-term United States government securities. In 2025 September, Singapore largest bank DBS, Franklin Templeton & digital asset infrastructure platform Ripple formed a partnership to launch trading & lending solutions for accredited & institution investors powered by tokenised money market funds & stablecoins. DBS Digital Exchange (DDEx) will list sgBENJI (Token of Franklin Templeton Tokenised Money Market Fund), Franklin Onchain U.S. Dollar Short-Term Money Market Fund & RLUSD (Ripple USD). In 2025 September, Franklin Templeton launched 2 new income funds in Hong Kong with HSBC appointed as exclusive distributor for 6 months, launching the 1) Franklin Diversified Income & Growth Fund investing in high-quality dividend & growth equity and fixed income globally, and 2) Franklin Post-Retirement Stable Income Fund investing in fixed income (higher allocation) & equity (lower allocation) for lower volatility. In 2025 September, Franklin Templeton first Evergreen Private Equity Secondaries Strategy launched in early 2025 has reached $1.2 billion AUM, which is co-managed with $82 billion secondaries & co-investment specialist Lexington Partners. In 2025 September, Franklin Templeton credit asset manager Benefit Street Partners ($79 billion AUM) has raised $2.3 billion for a private credit continuation fund (BSP Debt Fund IV CV) led by secondary market specialist Coller Capital ($40 billion AUM), with the fund investing in senior secured floating-rate loans primarily in first lien loans to United States middle market companies. In 2025 September, Franklin Templeton celebrated 35 years in Singapore since opening a dedicated emerging markets research office in Singapore in 1990. Franklin Templeton is one of the first foreign fund managers in Singapore in 1996 providing overseas funds to Singapore retail investors (Franklin Templeton Luxembourg funds) & launched Singapore first global equity fund in 1997. In 2025 June, Franklin Templeton held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. In 2025 June, Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, Franklin Templeton & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, Franklin Templeton & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
“ United States $1.6 Trillion Asset Manager Franklin Templeton Launches Singapore First Money Market Tokenized Retail Fund (Franklin Onchain U.S. Dollar Short-Term Money Market Fund) for DBS Wealth & Accredited Clients (Retail Clients Access Available from 2026 Q1) with Minimum Investment Sum of Only $20 (S$26), Uses Franklin Templeton Proprietary Benji Technology Platform (Blockchain) Which Provides Real-time Fund Data, Improved Liquidity & Daily Yield Accrual “
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Tariq Ahmad, Head of APAC, Franklin Templeton: “As investor interest in tokenized funds and digital assets continues to accelerate, we are excited to collaborate with DBS, Singapore’s largest bank, to bring this tokenized fund to the retail market. This collaboration reflects our shared commitment to digital innovation and underscores our commitment to empowering investors with secure, transparent and cutting-edge investment solutions. As an active industry partner of Project Guardian, led by the MAS, we are proud to contribute to the development of a vibrant and forward-looking digital asset ecosystem in Singapore.”
James Tan, Group Head of Investment Products & Advisory, DBS Bank: “Tokenization is reshaping the way people invest, and we want to make sure these benefits extend beyond institutional investors. By availing Singapore’s first tokenized retail fund to our customers, at a minimum investment sum of just US$20, we are making it simpler and more convenient for them to start investing and build resilience through market cycles. As we continue to innovate, we are focused on making investing simpler and more inclusive for everyone.”
Chetan Karkhanis, SVP, Digital Assets Partnership Development, Franklin Templeton: “This is an exciting step in our continued journey to make the digital assets more accessible to investors. By introducing tokenized fund access to retail investors Singapore, we are demonstrating how blockchain technology can enhance operational efficiency, enable fractional ownership, and improve transparency across the investment lifecycle. This initiative aligns with our broader strategy to integrate blockchain-enabled capabilities into traditional asset management and support the evolution of Asia’s digital financial infrastructure.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.69 trillion in assets under management as of October 31, 2025.
DBS – DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities.
United States $1.6 Trillion Asset Manager Franklin Templeton Launches Tokenized USD Money Market Fund (Franklin OnChain U.S. Government Money Fund) for Professional Investors in Hong Kong, Fund Generates Income by Investing in High Quality & Short-Term United States Government Securities
8th November – United States asset manager Franklin Templeton ($1.6 trillion AUM) has launched a tokenized USD money market fund (Franklin OnChain U.S. Government Money Fund) for professional investors in Hong Kong, with the fund generating income by investing in high quality & short-term United States government securities. Announcement (4/11/25): Franklin Templeton, one of the largest global investment managers in the world and a pioneer in digital assets technology, today announced the launch of the new tokenized USD money market fund – the Franklin OnChain U.S. Government Money Fund (the “Fund”) – for professional investors in Hong Kong. By leveraging Franklin Templeton’s proprietary blockchain-recordkeeping system, the Fund offers investors enhanced transparency, security, accessibility, speed and cost efficiencies made possible by blockchain technology. Its objective is to provide investors with a high level of current income, while preserving capital and maintaining liquidity. The Fund is yield-bearing, generating income through investments in high-quality, short-term U.S. government securities. The new Fund represents the first Luxembourg-registered tokenized UCITS money market fund natively issued on blockchain, available to institutional and professional investors in Hong Kong. It also marks the first end-to-end tokenized solution introduced by an asset manager in this market, integrating blockchain-native issuance, distribution, and servicing. Franklin Templeton is an active industry participant in the Hong Kong Monetary Authority (HKMA)’s Project Ensemble since 2024. In collaboration with HSBC and OSL, Franklin Templeton explored a hypothetical use case under the Ensemble Sandbox, in which gBENJI – the token of the Franklin OnChain U.S. Government Money Fund – serves as the onchain fund token that delivers yield to investors. It also demonstrated how HSBC’s tokenized deposits could influence investment flows for OSL’s customers transacting through its platform. This collaboration marks a significant step forward in advancing Hong Kong’s tokenization market, showcasing the transformative potential of tokenized funds and digital infrastructure to drive greater efficiency, transparency, interoperability and a more seamless investor experience. As Project Ensemble enters its pilot phase, aimed at facilitating real-value transactions involving tokenized deposits and assets, Franklin Templeton will continue to support the initiative and contribute to co-creating Hong Kong’s tokenization ecosystem. Franklin Templeton has been an active participant in the digital asset ecosystem since 2018, developing blockchain-based technology solutions, creating a diverse range of investment strategies, and operating node validators. The Benji Technology Platform is Franklin Templeton’s proprietary blockchain-integrated stack, designed to facilitate trading, management, and administration of token-based investments. The platform is available as a white label technology for banks or asset managers to tokenize securities, or via one of several tokenized money market funds launched by Franklin Templeton, fully on-chain, that support a wide range of global client needs across retail, wealth, institutional, bank and collateral use cases. Using this platform, Franklin Templeton launched the world’s first U.S.-registered mutual fund in 2021 using blockchain-integrated technology to process transactions and record share ownership. In 2024 the firm leveraged the Benji Technology Platform to launch the first fully tokenized UCITS fund in Luxembourg, and in 2025 launched the first retail tokenized fund in Singapore.” In 2025 September, Singapore largest bank DBS, Franklin Templeton & digital asset infrastructure platform Ripple formed a partnership to launch trading & lending solutions for accredited & institution investors powered by tokenised money market funds & stablecoins. DBS Digital Exchange (DDEx) will list sgBENJI (Token of Franklin Templeton Tokenised Money Market Fund), Franklin Onchain U.S. Dollar Short-Term Money Market Fund & RLUSD (Ripple USD). In 2025 September, Franklin Templeton launched 2 new income funds in Hong Kong with HSBC appointed as exclusive distributor for 6 months, launching the 1) Franklin Diversified Income & Growth Fund investing in high-quality dividend & growth equity and fixed income globally, and 2) Franklin Post-Retirement Stable Income Fund investing in fixed income (higher allocation) & equity (lower allocation) for lower volatility. In 2025 September, Franklin Templeton first Evergreen Private Equity Secondaries Strategy launched in early 2025 has reached $1.2 billion AUM, which is co-managed with $82 billion secondaries & co-investment specialist Lexington Partners. In 2025 September, Franklin Templeton credit asset manager Benefit Street Partners ($79 billion AUM) has raised $2.3 billion for a private credit continuation fund (BSP Debt Fund IV CV) led by secondary market specialist Coller Capital ($40 billion AUM), with the fund investing in senior secured floating-rate loans primarily in first lien loans to United States middle market companies. In 2025 September, Franklin Templeton celebrated 35 years in Singapore since opening a dedicated emerging markets research office in Singapore in 1990. Franklin Templeton is one of the first foreign fund managers in Singapore in 1996 providing overseas funds to Singapore retail investors (Franklin Templeton Luxembourg funds) & launched Singapore first global equity fund in 1997. In 2025 June, Franklin Templeton held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. In 2025 June, Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, Franklin Templeton & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, Franklin Templeton & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Tariq Ahmad, Head of APAC, Franklin Templeton: “We are excited to introduce our first tokenized money market fund in Hong Kong for professional investors. This launch reflects our ongoing commitment to delivering innovative investment solutions that address the needs of modern investors by expanding the accessibility of tokenized products in this dynamic market. Looking ahead, we aim to offer a retail-approved tokenized fund, subject to SFC approval, as part of our broader efforts to democratize access to investment solutions and foster a vibrant digital assets ecosystem in the region.”
Brian Chen, Head of OSL Wealth Management: “Hong Kong is becoming an institutionally trusted hub for digital assets. OSL has been supporting innovative tokenized products since inception. We look forward to bringing Franklin Templeton’s flagship tokenized product to Hong Kong’s professional investors. Our collaboration reflects our shared vision for secure and transparent digital asset solutions for Hong Kong’s digital asset generations.”
Sandy Kaul, Head of Innovation, Franklin Templeton: “As an early pioneer in the digital assets space, we are committed to leveraging our deep expertise and next-generation technology through the Benji Technology Platform to lower barriers to investment and broaden access for investors. With growing interest in tokenized financial products, we look forward to collaborating with a wider range of distributors, including traditional institutions and Web3-native platforms, to accelerate the momentum of the tokenization revolution and further shape the future of investing.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately US$1.66 trillion in assets under management as of 30 September 2025.
OSL – OSL Group (HKEX: 863) is Asia’s leading stablecoin trading and payment infrastructure that strives to provide compliant and efficient digital financial infrastructure services globally, empowering enterprises, financial institutions and individuals to seamlessly exchange, pay, trade, and settle between fiat and digital currencies. Grounded in the core values of Open, Secure, and Licensed, it is committed to building a more efficient ecosystem that connects global markets and enables instant, seamless and compliant value movement worldwide.
United States $1.6 Trillion Franklin Templeton Launches 2 New Income Funds in Hong Kong with HSBC Appointed as Exclusive Distributor for 6 Months, 1) Franklin Diversified Income & Growth Fund Invests in High-Quality Dividend & Growth Equity and Fixed Income Globally and 2) Franklin Post-Retirement Stable Income Fund Investing in Fixed Income (Higher Allocation) & Equity (Lower Allocation) for Lower Volatility
16th September – United States asset manager Franklin Templeton ($1.6 trillion AUM) has launched 2 new income funds in Hong Kong with HSBC appointed as exclusive distributor for 6 months, launching the 1) Franklin Diversified Income & Growth Fund investing in high-quality dividend & growth equity and fixed income globally, and 2) Franklin Post-Retirement Stable Income Fund investing in fixed income (higher allocation) & equity (lower allocation) for lower volatility. Announcement (15/9/25): “Franklin Templeton is pleased to announce the launch of two new funds: the Franklin Diversified Income and Growth Fund and Franklin Post-Retirement Stable Income Fund (“the Funds”), with HSBC serving as the exclusive distributor in Hong Kong for a six-month period. Managed by Ed Perks, Todd Brighton, and Brendan Circle from Franklin Income Investors (investment management team), the Funds are designed to support the evolving retirement needs of investors across different life stages. As life expectancy continues to rise, retirement planning has evolved beyond simply accumulating wealth. A well-structured retirement investment plan, capable of withstanding the challenges of longevity, inflation, and unforeseen events, is fundamental to achieving sustained financial security. The newly launched Hong Kong-domiciled Funds provide investors with multi-asset exposure, and are strategically positioned to meet consistent demand for income while addressing varying levels of financial complexity, from growth and income needs during the early wealth-building years to the pursuit of stable income in later life. Designed to support an accumulation-focused strategy for investors, the Franklin Diversified Income and Growth Fund offers a diversified portfolio of high-quality dividend and growth equity and fixed income, and seeks to capitalize on US and international opportunities. In contrast, the Franklin Post-Retirement Stable Income Fund is tailored for the decumulation phase with a higher allocation in fixed income versus equity, and aims to offer a lower-volatility investment solution. Both funds utilize a dynamic and flexible investment approach to navigate evolving market conditions.” In 2025 September, Franklin Templeton first Evergreen Private Equity Secondaries Strategy launched in early 2025 has reached $1.2 billion AUM, which is co-managed with $82 billion secondaries & co-investment specialist Lexington Partners. In 2025 September, Franklin Templeton credit asset manager Benefit Street Partners ($79 billion AUM) has raised $2.3 billion for a private credit continuation fund (BSP Debt Fund IV CV) led by secondary market specialist Coller Capital ($40 billion AUM), with the fund investing in senior secured floating-rate loans primarily in first lien loans to United States middle market companies. In 2025 September, Franklin Templeton celebrated 35 years in Singapore since opening a dedicated emerging markets research office in Singapore in 1990. Franklin Templeton is one of the first foreign fund managers in Singapore in 1996 providing overseas funds to Singapore retail investors (Franklin Templeton Luxembourg funds) & launched Singapore first global equity fund in 1997. In 2025 June, Franklin Templeton held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. In 2025 June, Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, Franklin Templeton & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, Franklin Templeton & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Simon Wong, Co-Head of Hong Kong & Head of Retail Sales, Greater China, Franklin Templeton: “We are delighted to partner with HSBC to introduce these two new Funds designed to support the retirement needs of retail investors in Hong Kong. At Franklin Templeton, we are committed to empowering investors by offering a broad range of investment options that help build resilient portfolios and achieve long-term financial goals … … Retirement is a dynamic journey, and each stage, characterized by distinct spending patterns and evolving financial needs, demands tailored investment strategies. Achieving an ideal retirement requires early planning, and the Franklin Diversified Income and Growth Fund is designed for individuals in the early or mid stages of their careers, seeking income and capital appreciation. For individuals nearing retirement, the Franklin Post-Retirement Stable Income Fund focuses on capital preservation and income generation to support greater financial stability.”
Sami Abouzahr, Head of Wealth and Premier Solutions, Hong Kong, and Global Head of Investments and Managed Solutions, HSBC: “Retirement planning is a vital component of our wealth management discussions with clients. HSBC is excited about our partnership with Franklin Templeton, which will enhance our newly launched suite of specialized retirement funds. These funds are designed to balance our clients’ desire for income in monthly payouts, with capital preservation and continued asset growth. This collaboration reflects our commitment to delivering comprehensive strategies that empower clients to prepare for and thrive in their retirement.”
Stephen Tong, Senior Client Portfolio Manager, Franklin Income Investors: “In an environment of fluctuating interest rates and market volatility, generating consistent income is both a challenge and a necessity. A thoughtfully constructed income strategy can serve as the cornerstone of a successful retirement plan, helping to meet a wide range of financial goals. As a pioneer in multi-asset income investing for over 75 years, we believe that deploying a dynamic investment approach helps in navigating current market conditions by identifying attractive opportunities in equities and a broad range of fixed income sectors. As the market continues to evolve, the ability to be nimble and flexible remains crucial in achieving income objectives and managing risks effectively.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.64 trillion in assets under management as of August 31, 2025.
United States $1.6 Trillion Franklin Templeton First Evergreen Private Equity Secondaries Strategy Launched in Early 2025 Reached $1.2 Billion AUM, Co-Managed with $82 Billion Secondaries & Co-Investment Specialist Lexington Partners
10th September – United States asset manager Franklin Templeton ($1.6 trillion AUM) first Evergreen Private Equity Secondaries Strategy launched in early 2025 has reached $1.2 billion AUM, which is co-managed with $82 billion secondaries & co-investment specialist Lexington Partners. Announcement (8/9/25): “Franklin Templeton is delighted to announce that its first Evergreen Private Equity Secondaries Strategy, that is co-managed with Lexington Partners, has now exceeded US$1.2 billion in assets under management following its successful launch earlier this year. This significant milestone reflects strong demand and appetite for private equity secondaries in an evergreen structure from a broad range of investors internationally including APAC, EMEA, Canada and Latin America regions. The evergreen private equity secondaries strategy is designed and intended for accredited investors and wealth channel clients who are increasingly drawn to private markets as they seek greater transparency, accessibility and the potential for earlier liquidity and cash returns. The strategy launched at a time when private equity was at a turning point with investors and advisers navigating how best to allocate across its sub-strategies in the wealth market. The growing availability of evergreen funds expanded the investment landscape by offering compelling benefits including more flexibility than traditional private equity funds and no lock-up, allowing periodic redemptions. In addition, secondaries are particularly well suited for evergreen structures due to their portfolio diversification, reduced blind pool risk, earlier cash flows and enhanced compounding and liquidity management making them a strong foundation for an evergreen private equity allocation. Lexington is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. The firm helped pioneer the development of the institutional secondary market over 31 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington’s 26 partners are among the most experienced and highly regarded in the secondary market today, averaging 18 years together at Lexington. Franklin Templeton’s Asia Wealth Management team is a dedicated group that supports the firm’s distribution partners across the wealth channel in Asia, spanning both its traditional as well as its expanding alternatives platform. Franklin Templeton’s growing and dedicated alternatives platform extends beyond traditional investment offerings. The firm’s specialist investment managers, each with deep domain expertise, provide a diverse range of alternative asset capabilities including private equity secondaries and co-investment funds (Lexington), private credit (Benefit Street Partners and Alcentra), real estate (Clarion Partners), as well as hedged strategies, venture capital and digital assets. Franklin Templeton manages US$254 billion in alternative assets as of 30 June 2025.” In 2025 September, Franklin Templeton credit asset manager Benefit Street Partners ($79 billion AUM) has raised $2.3 billion for a private credit continuation fund (BSP Debt Fund IV CV) led by secondary market specialist Coller Capital ($40 billion AUM), with the fund investing in senior secured floating-rate loans primarily in first lien loans to United States middle market companies. In 2025 September, Franklin Templeton celebrated 35 years in Singapore since opening a dedicated emerging markets research office in Singapore in 1990. Franklin Templeton is one of the first foreign fund managers in Singapore in 1996 providing overseas funds to Singapore retail investors (Franklin Templeton Luxembourg funds) & launched Singapore first global equity fund in 1997. In 2025 June, Franklin Templeton held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. In 2025 June, Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, Franklin Templeton & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, Franklin Templeton & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Tariq Ahmad, Head of Asia Pacific: “Private market funds have seen significant growth in the Asia Pacific region, driven by growing appetite from wealth managers and their clients for long term, flexible investment solutions, increasing wealth accumulation and a maturing private markets ecosystem across key markets including Singapore, Hong Kong, Japan and Australia. With private markets expected to exceed US$277 billion in assets by the end of 2028, wealth managers are uniquely positioned to harness this momentum. Evergreen funds, with their built-in flexibility and periodic liquidity, offer a powerful way to capture long-term growth while meeting evolving client needs.”
Christian Bucaro, Head of Wealth: “By combining Lexington’s deep expertise in private equity secondaries with Franklin Templeton’s global scale and distribution strength, we have created a differentiated evergreen strategy that opens up high-quality private market opportunities to wealth investors worldwide. Asia has played a pivotal role in our success, contributing a substantial share of the strategy’s US$1.2 billion in international AUM. With total global AUM, including the U.S. market, now reaching approximately US$2.7 billion, we have reached a major milestone in our mission to democratise private markets for the wealth channel.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.64 trillion in assets under management as of August 31, 2025.
Lexington Partners – Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. Lexington helped pioneer the development of the institutional secondary market over 31 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington has total capital in excess of US$82 billion (as of August 2025) and has acquired over 5,500 interests through more than 1,300 transactions. Lexington’s global team is strategically located in major centers for private equity and alternative asset investing across North America, Europe, Asia, and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton.
United States $1.6 Trillion Franklin Templeton Celebrates 35 Years in Singapore Since Opening Dedicated Emerging Markets Research Office in 1990, First Foreign Fund Managers in 1996 Providing Overseas Funds to Singapore Retail Investors (Franklin Templeton Luxembourg Funds) & Launched Singapore First Global Equity Fund in 1997
3rd September – United States asset manager Franklin Templeton ($1.6 trillion AUM) is celebrating 35 years in Singapore since opening a dedicated emerging markets research office in Singapore in 1990. Franklin Templeton is one of the first foreign fund managers in Singapore in 1996 providing overseas funds to Singapore retail investors (Franklin Templeton Luxembourg funds) & launched Singapore first global equity fund in 1997. Announcement (3/9/25): “Franklin Templeton, one of the world’s largest global asset managers, is celebrating 35 years of serving clients in Singapore, highlighting its long-standing commitment to delivering world class investment solutions in the country. Since establishing its presence in Singapore in 1990 with a dedicated emerging markets research office, Franklin Templeton — through its Singapore entity, Templeton Asset Management Ltd — has grown to become a trusted partner for retail and institutional investors in the Lion City over the years. Franklin Templeton was among the first few foreign fund managers to offer overseas funds to the investing public in Singapore in 1996 with the establishment of Singapore’s first umbrella and feeder fund into the Franklin Templeton Luxembourg funds, along with Singapore’s first emerging markets fund that year. The following year, Franklin Templeton continued to break new ground with the launch of Singapore’s first global equity fund. Franklin Templeton has also played a key role in advancing financial literacy and investor education in Singapore and the broader region through its education platform – the Franklin Templeton Academy. Singapore today serves as one of the key regional offices for Asia Pacific, anchoring the firm’s investment leadership across public and private markets, while also housing strategic regional functions including distribution, operations, marketing, human resources, compliance, and legal … … Franklin Templeton’s commitment to Singapore and the Asia Pacific region is reflected in its strong partnerships with leading institutional clients and financial institutions – both global and local – delivering customized investment solutions to meet the evolving needs of the market. Looking ahead, the firm remains focused on deepening its presence in Asia Pacific by continuing to add to its diversified suite of investment capabilities designed to serve a broad spectrum of investor segments across the region.” In 2025 June, Franklin Templeton held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. In 2025 June, Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, Franklin Templeton & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, Franklin Templeton & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Manraj Sekhon, Chief Investment Officer of Templeton Global Investments and Co-CEO of Templeton Asset Management Ltd: “Franklin Templeton is proud to celebrate 35 years in Singapore – a journey that has mirrored the remarkable evolution of the nation’s financial landscape. We have had the privilege of contributing to the growth of one of Asia’s most sophisticated capital markets, providing local investors with access to global opportunities and delivering deep, differentiated investment expertise across markets. Today, Singapore is not only the headquarters for Templeton Global Investments, one of our Specialist Investment Managers, but also a strategic hub as part of our firm’s broader global footprint.”
Tariq Ahmad, Head of APAC at Franklin Templeton and Co-CEO of Templeton Asset Management Ltd: “As Franklin Templeton celebrates 35 years in Singapore – alongside the nation’s 60th year of independence – we reflect on a shared journey of growth and transformation. We are honored to have been a trusted partner to our clients through different market cycles and are proud of the relationships we have built here over the past decades. This year, we have been working on a number of pioneering initiatives from launching the country’s first retail tokenized fund, to expanding access to high-quality secondary private equity for investors. Looking ahead, we remain committed to driving innovation and delivering future-ready investment solutions that meet the evolving needs of our clients in Asia Pacific.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.62 trillion in assets under management as of July 31, 2025.
United States $1.5 Trillion Franklin Templeton Held Inaugural Reserve Management Summit 2025 in London for Central Bank Policymakers & Reserve Managers with $7.3 Trillion Sovereign Assets, Top 3 Challenges are 1) Dampening Portfolio Volatility 53%, 2) Achieving Return Objectives 27% & 3) Liquidity Management 20%, Top 2 Expected Increase in Asset Class are Gold 31% & Equities 23%, 75% of Respondents to Increase Investment-Grade Corporate Credit in Next 5 Years
23rd June – United States asset manager Franklin Templeton ($1.5 trillion AUM) held the inaugural Reserve Management Summit 2025 in London for central bank policymakers & reserve managers with $7.3 trillion sovereign assets. The top 3 challenges are 1) dampening portfolio volatility 53%, 2) achieving return objectives 27% & 3) liquidity management 20%. The top 2 expected increase in asset class are gold 31% & equities 23%. 75% of respondents expect to increase investment-grade corporate credit in next 5 years. Announcement (23/6/25): “Franklin Templeton hosted its inaugural Reserve Management Summit (the Summit) in London which brought together central bank policymakers and reserve managers, representing over US$7.3 trillion in sovereign assets, to discuss key topics and exchange views on the global economy. At the Summit, Franklin Templeton Institute surveyed these reserve managers and central bank representatives to gather insights on the key challenges, risks, and strategic priorities shaping reserve management in the years ahead. The survey captured responses on macroeconomic expectations, asset allocation shifts, and future-looking investment trends.” Selected highlights below. In 2025 June, United States asset manager Franklin Templeton announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. In 2025 May, United States asset manager Franklin Templeton ($1.5 trillion AUM) & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, United States asset manager Franklin Templeton ($1.5 trillion AUM) & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton ($1.5 trillion AUM) announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Franklin Templeton Reserve Management Summit 2025 in London:
Top Challenges and Macro Views
- 53% of participants cited dampening portfolio volatility as the single largest challenge facing reserve managers in 2025, followed by achieving return objectives (27%) and liquidity management (20%).
- On interest rate expectations, 38% each expect the U.S. 10-year Treasury yield to remain between 4.50% and 5.00% and 4.00% and 4.50% by year-end, while 15% foresee yields rising above 5.00%.
Strategic Allocation Shifts
- Gold was seen as the asset class most likely to increase in strategic allocation over the next three years (31%), followed by global equities (23%).
- Respondents were evenly split across other asset classes, with 15% each pointing to emerging market debt, private credit, and investment-grade credit as areas of growing importance.
- When asked specifically about credit allocation, 75% of respondents expect to increase allocations to investment-grade corporate credit over the next five years.
- When asked which emerging market allocation over the next three years, 42% of respondents selected emerging market hard currency debt, highlighting a preference for relatively lower-risk exposure within the asset class. Only 8% expect to increase allocations to either emerging market local currency sovereign debt or emerging market equities, while another 42% indicated none of the above, suggesting a cautious or selective approach to emerging market investments in the near term.
Currency Outlook
- While the U.S. dollar currently holds a 65% share of global reserves, only 50% expect that share to remain within the 60–70% range over the next five years, with 39% anticipating a drop to 50–60% and 11% expecting it to drop below 50%.
Long Term Shifts, Innovation & Risks
- Over the next decade, 53% believe the rise of a multi-polar world of reserve currencies will be the most likely force to revolutionize reserve management practices, followed by digital assets (27%) and the separation of investment and liquidity management functions for reserve managers (20%).
- Stable coins (46%) and tokenization of private assets (38%) were identified as the most transformative financial innovations over the next decade.
- The greatest perceived risk to global capital markets through 2030 was split between a potential trade war (40%) and dislocations in the U.S. Treasury market (40%), followed by the loss of the U.S. Dollar as the primary reserve currency (20%).
Stephen Dover, Chief Market Strategist and Head of the Franklin Templeton Institute: “While Treasuries remain their primary holdings, there is a growing interest in expanding into other fixed income assets, equities, alternative currencies, and gold. Additionally, they are exploring the transformative potential of stablecoins and the tokenization of private assets, signaling a shift that could reshape financial strategies for the future.”
Tariq Ahmad, Head of APAC and Co-Head of the Global Official Institutions Group at Franklin Templeton: “Franklin Templeton has proudly served official institutions for over 30 years, this summit marks a significant milestone for us as the first of its kind within our organization. We understand that each reserve manager faces distinct challenges as they navigate an increasingly complex and uncertain global environment. There is a clear shift toward diversification, innovation, and risk-conscious strategies as sovereign investors prepare for a new era of global capital markets. We are fully committed to delivering tailored, forward-thinking solutions and strategic advice to support this evolving client segment.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.57 trillion in assets under management as of May 31, 2025.
United States $1.5 Trillion Franklin Templeton to Buy Majority Stake in UK-Based Europe Private Debt Investment Manager Apera Asset Management with $5.7 Billion AUM, Franklin Templeton Alternative Assets Will Increase to $260 Billion AUM & $87 Billion Alternative Credit AUM, Apera Founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw, Apera Provides Senior Secured Private Capital Solutions to Private Equity-Backed Companies in Western Europe
5th June – United States asset manager Franklin Templeton ($1.5 trillion AUM) has announced to buy a majority stake in UK-based Europe private debt investment manager Apera Asset Management ($5.7 billion AUM), with Franklin Templeton Alternative Assets to increase to $260 billion AUM & $87 billion Alternative Credit AUM. Apera was founded in 2016 by Klaus Petersen, David Wilmot & Robert Shaw. Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. Announcement (4/6/25): “Franklin Resources, Inc. [NYSE: BEN], a global investment management organisation operating as Franklin Templeton, today announced it has entered into a definitive agreement to acquire a majority interest in Apera Asset Management (“Apera”), a pan-European private credit firm with over €5 billion in assets under management (“AUM”). The acquisition will expand Franklin Templeton’s global alternatives platform and its direct lending capabilities across Europe’s growing lower middle market. With the acquisition of Apera, Franklin Templeton’s global alternative credit AUM would increase to $87 billion and the firm’s total pro-forma alternative asset AUM would grow to approximately $260 billion, each as of 30 April, 2025, reinforcing its position as a leading manager of diversified alternative asset strategies. Apera will be complementary to Franklin Templeton’s existing global alternative credit offerings, alongside Benefit Street Partners in the U.S. and Alcentra in Europe, further diversifying the firm’s geographic exposure and capabilities within the private credit asset class. Founded in 2016, Apera provides senior secured private capital solutions to private equity-backed companies in Western Europe. Headquartered in London, with offices in Germany, France, and Luxembourg, Apera has built a strong track record of disciplined underwriting and deep sponsor relationships and brings differentiated capabilities and expertise in the pan-European lower middle market – a segment that remains underserved relative to the broader private credit landscape. Apera recently closed its third flagship fund family at €2.9 billion, exceeding its target and reflecting investor demand for access to European private credit … … This transaction is expected to close in Q3 2025, subject to customary regulatory approvals and closing conditions.” In 2025 May, United States asset manager Franklin Templeton ($1.5 trillion AUM) & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, United States asset manager Franklin Templeton ($1.5 trillion AUM) & secondaries private equity specialist Lexington Partners ($76 billion AUM) announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton ($1.5 trillion AUM) announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Klaus Petersen, Founding Partner of Apera: “This transaction with Franklin Templeton marks an exciting new chapter for Apera. We share a long-term vision centered on performance and responsible growth. With Franklin Templeton’s global scale and clear commitment to alternatives, we are well-positioned to accelerate the growth of our strategy and expand our reach while continuing to deliver for our investors.”
David Manlowe, CEO of Benefit Street Partners: “Apera is a strong strategic fit for our platform. Their focus on the European lower middle market adds a new dimension to our global private credit capabilities. It’s a segment distinct from those served by BSP and Alcentra, and one where Apera’s local expertise and disciplined underwriting approach provide access to attractive, risk-adjusted returns.”
Jenny Johnson, CEO of Franklin Templeton: “The acquisition of Apera reflects our continued commitment to building a world-class global alternatives platform. We are pleased to welcome Apera’s outstanding team and believe our combined capabilities will deliver even greater value to clients globally.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organisation with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialisation on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and $1.54 trillion in assets under management as of 30 April, 2025. Franklin Templeton is one of the largest managers in alternative assets globally, amounting to US$254 billion of the firm’s total AUM as of 30 April, 2025. Its specialist investment managers, each with deep domain expertise, provide a diverse range of alternative asset capabilities including private credit and real estate debt from Benefit Street Partners-Alcentra, real estate equity from Clarion Partners, secondary private equity and co-investments from Lexington Partners, hedged strategies from Franklin Templeton Investment Solutions and pre-IPO growth equity investments from Franklin Venture Partners.
Apera – Apera is a pan-European mid-market private debt investor operating in DACH, the UK, Nordics, France and Benelux with a team of 55 people. It develops long-term partnerships with sponsors, companies, and advisors by providing bespoke financing solutions that enable lower mid-market businesses in Western Europe to grow and thrive, whilst producing attractive returns. Apera is focused on bringing a new standard of transparency to the private debt market. It strives to maintain the highest standards of integrity, promoting collaborative teamwork and drawing on its wealth of experience in long-term private debt investment. Apera Asset Management LLP is authorised and regulated by the UK Financial Conduct Authority (FCA). Apera Asset Management GmbH is authorised and regulated by the German Federal Financial Supervisory Authority (BaFin) and the Chamber of Industry and Commerce of Munich and Upper Bavaria. Apera Asset Management GmbH – French branch is authorised and regulated by BaFin, the French Prudential Supervision and Resolution Authority (ACPR) and the French Financial Markets Authority (AMF).
United States $1.5 Trillion Franklin Templeton & Saudi Arabia $930 Billion Sovereign Wealth Fund Public Investment Fund (PIF) Sign MoU to Jointly Invest $5 Billion to Develop Saudi Arabia Financial Markets in Public (Equity & Fixed Income) and Private Markets to Broaden Investment Offerings to Saudi Arabia & International Investors
16th May 2025 – United States asset manager Franklin Templeton ($1.5 trillion AUM) & Saudi Arabia $930 billion sovereign wealth fund Public Investment Fund (PIF) have signed a MoU (Memorandum of Understanding) to jointly invest $5 billion to develop Saudi Arabia financial markets in public (equity & fixed income) and private markets to broaden investment offerings to Saudi Arabia & international investors. Announcement (14/5/25): “Franklin Templeton Financial Company (FTFC) and PIF today signed a non-binding memorandum of understanding (MoU) to partner in investing up to $5 billion to further develop Saudi Arabia’s financial markets. These investments may range across Saudi equity and fixed income strategies in the public and private markets, aiming to broaden investment offerings for both Saudi and international investors … … The MoU underscores PIF’s ongoing strategy to strengthen partnerships with top international financial institutions, while also diversifying its investments portfolio. The collaboration forms part of PIF’s broader efforts to diversify the Saudi economy and further develop local capital markets. Under the MoU, both entities seek to collaborate on a range of investment strategies and products in Saudi Arabia, with the goal of developing opportunities that align with their shared objectives. Additionally, Franklin Templeton will deploy programs and initiatives to transfer knowledge, foster talent and promote innovation in the asset management sector. PIF is one of the world’s most impactful investors, enabling the creation of new sectors and opportunities that help shape the global economy, while driving the economic transformation of Saudi Arabia. This MoU complements a series of PIF initiatives to promote further growth in the Saudi capital market ecosystem and enable a more robust international investment management sector based in Saudi Arabia. Today’s non-binding MoU is subject to satisfying certain necessary conditions including obtaining all necessary regulatory and internal approvals, and fulfilling specified milestones. Franklin Templeton, a leading global investment manager, headquartered in California, has over 75 years of experience, bringing best practices from around the world to help develop the Saudi market. With a 25-year presence in the Middle East, the firm further solidified its commitment to Saudi Arabia with the opening of its Riyadh office in March 2024. Renowned for its pioneering approach to emerging market investments FT is one of the first global asset managers to invest in the Saudi capital market and now offers a suite of investment and research services from its Riyadh location. These include MENA and Saudi Fixed Income, GCC and Saudi Private Credit, Global Sukuk, and Frontier and MENA Equities. As of the end of April 2025, the firm’s total assets under management stood at $1.53 trillion. In 2025 May, Franklin Templeton announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). In 2025 April, United States asset manager Franklin Templeton ($1.5 trillion AUM) & secondaries private equity specialist Lexington Partners ($76 billion AUM) have announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton ($1.5 trillion AUM) announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech had pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings have signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
PIF (Public Investment Fund) – PIF is the investment engine driving economic transformation for Saudi Arabia and the world. With an ambitious program to deliver Vision 2030, PIF invests in projects, companies and partners to diversify the Saudi economy, stimulate growth in every major sector, and create new opportunities for investment and employment. And as a global investor and catalyst of change, PIF actively partners with the most pioneering organizations across the world to accelerate their growth, and transfer the technology and knowledge needed to build industry ecosystems of the future. Since 2017, PIF has established 103 companies and is driving the transition to a more sustainable economy through strategic investments and partnerships across the Saudi public and private sector. PIF is laying the foundations for local and international partners to invest in the economic and societal transformation of Saudi Arabia.
United States $1.5 Trillion Asset Manager Franklin Templeton to Launch Franklin OnChain U.S. Dollar Short-Term Money Market Fund for Retail Investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company) with Minimum Investment of Only $20, Fund Mirrors $1.7 Billion Franklin U.S. Dollar Short-Term Money Market Fund Investing in Mainly USD-Denominated or USD-Hedged High Quality Short-Term Securities (Transferable Securities, Money Market Instruments of Government & Eligible Securities of Companies)
15th May 2025 – United States asset manager Franklin Templeton ($1.5 trillion AUM) has announced the launch of Franklin OnChain U.S. Dollar Short-Term Money Market Fund for retail investors in Singapore under Franklin Templeton Investments VCC (Variable Capital Company), with minimum investment of only $20. The fund mirrors the $1.7 billion Franklin U.S. Dollar Short-Term Money Market Fund investing in mainly USD-denominated or USD-hedged high quality short-term securities (transferable securities, money market instruments of government & eligible securities of companies). Announcement (15/5/25): “Franklin Templeton, one of the largest global investment managers in the world and a pioneer in digital assets technology, today announced that it has received regulatory approval from the Monetary Authority of Singapore (“MAS”) to launch the Franklin OnChain U.S. Dollar Short-Term Money Market Fund (the “Fund”) in Singapore. Structured as a sub-fund under Franklin Templeton’s first Variable Capital Company, known as Franklin Templeton Investments VCC (“VCC”), the Fund will be the first tokenized fund registered for retail investors in Singapore. Franklin Templeton incorporated the VCC in August 2024 and the Fund is approved as an authorized scheme by the MAS on May 13, 2025 … … As shares in the Fund will be issued using Franklin Templeton’s proprietary blockchain- integrated transfer agency platform, investors can benefit from greater transparency, security, accessibility and efficiency enabled by blockchain technology. Investors will be able to access the Fund with a minimum investment of US$20. The investment objectives of the Fund mirrors that of the Luxembourg registered, Franklin Templeton Investment Funds – Franklin U.S. Dollar Short-Term Money Market Fund, which has US$1.76 billion in assets under management1, and aims to offer investors exposure to a portfolio of high quality, short-term securities, consisting principally of transferable securities and money market instruments of governments and eligible securities of companies of any nation worldwide, primarily USD denominated, or hedged back into USD minimising any currency exposure. The Fund is managed by Templeton Asset Management Ltd, which in turn has appointed Franklin Advisers Inc as the sub-managers. Franklin Templeton through its Singapore entity, Templeton Asset Management Ltd, is an active industry partner of Project Guardian by the MAS, a collaborative initiative between policymakers and the financial industry that seeks to enhance liquidity and efficiency of financial markets through asset tokenization, while managing risks to financial stability and integrity.” In 2025 April, United States asset manager Franklin Templeton ($1.5 trillion AUM) & secondaries private equity specialist Lexington Partners ($76 billion AUM) have announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation byinvesting in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. In 2025 March, Franklin Templeton ($1.5 trillion AUM) announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech had pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings have signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Tariq Ahmad, Head of APAC, Franklin Templeton: “We are proud and excited to bring this first-of-its-kind tokenized money market fund to retail investors in Singapore. The new fund marks a significant milestone in our commitment to harnessing the power of blockchain technology to lower the barriers to investing and deliver transformative products for investors in Asia-Pacific. We look forward to working with more industry partners to further advance asset tokenization and build a vibrant digital asset ecosystem in Singapore.”
Roger Bayston, EVP, Head of Digital Assets, Franklin Templeton: “We believe that blockchain technology is fundamentally reshaping the financial services industry by enabling the evolution of traditional financial products and processes, and the new fund demonstrates the potential for increased interoperability in the financial system. With rising investor interest in tokenized digital financial products, we are committed to leveraging our in- depth knowledge of digital asset ecosystems and disruptive technologies to bring more innovative solutions to the market.”
United States $1.5 Trillion Asset Manager Franklin Templeton & $76 Billion Secondaries Private Equity Specialist Lexington Partners Launch Secondaries Evergreen Fund Franklin Lexington PE Secondaries Fund (FLEX-I), Investment Goal is Long-Term Capital Appreciation Investing in Private Equity Investments via Secondary Transactions, Co-Investments in New Private Equity Transactions Alongside Leading Sponsors and Private Assets Including Buyout, Growth, Venture, Credit, Mezzanine, Infrastructure, Energy & Real Assets, Fund is Available to Professional Investors in Hong Kong & Japan and Accredited Investors in Singapore, New Fund is Sub-Fund of Luxembourg-Domiciled Franklin Lexington Private Markets Fund SICAV SA
30th April 2025 – United States asset manager Franklin Templeton ($1.5 trillion AUM) & secondaries private equity specialist Lexington Partners ($76 billion AUM) have announced the launch of a new secondaries evergreen fund Franklin Lexington PE Secondaries Fund (FLEX-I), with investment goal to achieve long-term capital appreciation by investing in private equity investments via secondary transactions, co-investments in new private equity transactions alongside leading sponsors and investing in private assets including buyout, growth, venture, credit, mezzanine, infrastructure, energy & real assets. The new fund is available to professional investors in Hong Kong & Japan and accredited investors in Singapore. The new fund is a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA. Announcement (30/4/25): “Franklin Templeton is delighted to announce the launch of the Franklin Lexington PE Secondaries Fund (FLEX-I), a sub-fund of the Luxembourg-domiciled Franklin Lexington Private Markets Fund SICAV SA range, which comes to market with over US $875 million in assets under management from a diversified investor base internationally across APAC, EMEA, Canada and Latin America. Co-managed by Franklin Templeton and Lexington, a pioneer in the development of institutional secondary markets, the new fund represents the firm’s first evergreen fund for the wealth channel internationally. It has been notified for distribution to professional investors in Hong Kong & Japan and for accredited investors in Singapore … … Designed for wealth channel clients seeking long-term growth opportunities, FLEX-I offers access to an asset class that until recently was primarily available to institutional investors. The Fund’s investment objective is to seek long-term capital appreciation by investing in a diversified portfolio of private equity investments acquired through secondary transactions and co-investments in new private equity transactions alongside leading sponsors. In addition, FLEX-I will have the flexibility to invest in Private Assets across asset types, including, but not limited to, buyout, growth, venture, credit, mezzanine, infrastructure, energy and other real assets. FLEX-I comes to market at a time when original investors in private funds and assets are seeking liquidity because of a slowdown in distributions from the asset class. The secondary PE market has grown significantly and is projected to exceed US $500 billion over the next five years. Investors in secondary funds seek private equity and alternatives exposure with the potential benefits of broad diversification, potential for earlier cash returns, reduced investment risk and mitigation of primary J-curve … … Lexington is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. The firm helped pioneer the development of the institutional secondary market over 30 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington’s 26 partners are among the most experienced and highly regarded in the secondary market today, averaging 18 years together at Lexington. Franklin Templeton’s Asia Wealth Management team is a dedicated group that supports the firm’s distribution partners across the wealth channel in Asia, spanning both its traditional as well as its expanding alternatives platform. The firm’s specialist investment managers, each with deep domain expertise, provide a diverse range of alternative asset capabilities including private equity secondaries and co-investment funds (Lexington), private credit (Benefit Street Partners and Alcentra), real estate (Clarion Partners), as well as hedged strategies, venture capital and digital assets. Franklin Templeton manages over US $252 billion in alternative assets as of 31 March 2025.” In 2025 March, Franklin Templeton ($1.5 trillion AUM) announced to provide international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech had pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings have signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
Christian Bucaro, Head of Wealth for Asia at Franklin Templeton: “We are excited to partner with Lexington on this product which represents a key addition to our alternatives product range. The launch of FLEX-I represents a major milestone in broadening access to high-quality secondary private equity for Asian investors across the wealth channel and reinforces our commitment to becoming a leading player in the alternatives wealth channel. With over US$875 million in assets under management at inception – with a substantial portion coming from investors in Asia – the Fund’s initial momentum highlights the growing appetite in the region for global private market opportunities, particularly in the secondary market. It also reaffirms our conviction that investors in Asia are increasingly seeking diversified exposure to alternative investments via evergreen structures.”
Tim Huang, Partner at Lexington: “The secondary market continues to see robust, high-quality deal flow, yet remains meaningfully undercapitalized – presenting a compelling opportunity for investors, especially in Asia where demand for private market access is rapidly gaining momentum. FLEX-I is designed to complement our traditional drawdown funds, while offering a more flexible, evergreen structure tailored to investors seeking long-term, risk-adjusted returns. By combining our global private markets expertise with our strong presence in Asia, FLEX-I underscores our commitment to delivering impactful investment solutions to our clients.”
Franklin Templeton – Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and US$1.53 trillion in assets under management as of March 31, 2025.
Lexington Partners – Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds. The firm helped pioneer the development of the institutional secondary market over 31 years ago and created one of the first independent, discretionary co-investment programs 27 years ago. Lexington has total capital in excess of US$76 billion and has acquired over 5,500 interests through more than 1,300 transactions. Lexington’s global team is strategically located in major centers for private equity and alternative asset investing across North America, Europe, Asia and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton.
United States $1.5 Trillion Asset Manager Franklin Templeton to Provide International Clients Access to 2024-Acquired $121 Billion Active Equity Manager Putnam Investments
9th March 2025 – United States asset manager Franklin Templeton ($1.5 trillion AUM) is providing international clients with access to 2024-acquired active equity manager Putnam Investments ($121 billion AUM). In 2025 March, Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech had pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2025 January, Franklin Templeton launched a low volatility & yield seeking bond fund (Franklin Global Low Volatility Bond Fund) with Hang Seng Bank appointed as distributor in Hong Kong. Franklin Global Low Volatility Bond Fund invests at least 65% of NAV (Net Asset Value) in government-related investment grade debt securities, and is managed by Franklin Templeton fixed income team Chris Siniakov, Andrew Canobi & Joshua Rout. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. In 2024 September, Franklin Templeton launched the flagship Franklin Income Fund new Class Q shares exclusive to OCBC clients in Singapore with subscription closing on 24th September 2024. The Class Q shares targets to distribute non-guaranteed monthly dividend payments at the discretion of the fund manager, and has 0% initial sales charge. Additional fees of up to 3% to apply if redeemed within 3 years, with the Class Q shares automatically converting to Class A shares after 3 years. The fund is available in USD & SGD. In 2024 July, Franklin Templeton & Japan SBI Holdings have signed a MoU (Memorandum of Understanding) to setup a joint venture in Japan, with the joint venture to combine Franklin Templeton investment products including ETFs (Exchange-traded funds) & experience in digital assets with SBI Holdings distribution & integrated financial services capabilities including securities, asset management, banking & insurance in Japan.
$1.5 Trillion Franklin Templeton Subsidiary Fixed Income Manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech Pleaded Not Guilty to Multi-Year Fraud to Allocate Favourable Trades to Certain Portfolio from 2021 to 2023 Western Asset Management Appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck with All Reporting to CIO Mike Buchanan
1st March 2025 – Franklin Templeton ($1.5 trillion AUM) fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech had pleaded not guilty to multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Western Asset Management appoints 4 Deputy CIOs Ryan Brist, Anthony Kirkham, Mark Lindbloom & Annabel Rudebeck, with all reporting to CIO Mike Buchanan. Earlier in 2025 February, Franklin Templeton is planning to cut 3% of 9,000+ global workforce. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect.
$1.5 Trillion Franklin Templeton to Cut 3% of 9,000+ Workforce, $389 Million Impairment Charges in 2024 November to Subsidiary Fixed Income Manager Western Asset Management, United States SEC Charges Franklin Templeton Fixed Income Manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for Multi-Year Fraud to Allocate Favourable Trades to Certain Portfolio from 2021 to 2023
6th February 2025 – Franklin Templeton ($1.5 trillion AUM) is planning to cut 3% of 9,000+ global workforce. In 2024 November, the United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. Earlier in 2024 November, Franklin Templeton reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect.
United States SEC Charges Franklin Templeton Fixed Income Manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for Multi-Year Fraud to Allocate Favourable Trades to Certain Portfolio from 2021 to 2023
26th November 2024 – The United States Securities & Exchange Commission (SEC) has charged Franklin Templeton fixed income manager Western Asset Management ex-CIO Stephen Kenneth (“Ken”) Leech for multi-year fraud to allocate favourable trades to certain portfolio from 2021 to 2023. United States SEC (25/11/24): “The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating unfavorable trades to other portfolios, a practice known as cherry-picking. The SEC’s complaint alleges that from at least January 2021 through October 2023, Leech placed trades with brokers and then routinely waited until later in the trading day to allocate the trades among clients in the portfolios he managed. According to the complaint, Leech’s delay between placing and allocating trades gave him the opportunity to observe price movements, and then disproportionally allocate trades at a first-day gain to favored portfolios and trades at a first-day loss to disfavored portfolios. As alleged, Leech allocated hundreds of millions of dollars of net first-day gains to favored portfolios, which also benefited Leech personally, and a similar amount of net first-day losses to disfavored portfolios. The SEC’s complaint, filed in the United States District Court for the Southern District of New York, charges Leech with violating antifraud and other provisions of the federal securities laws, and seeks permanent and conduct-based injunctions, an officer-and-director bar, disgorgement, prejudgment interest, civil penalties, and other relief.” Earlier in 2024 November, Franklin Templeton ($1.6 trillion AUM) has reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect.
$1.6 Trillion Franklin Templeton Reports $31.3 Billion Outflow & $389 Million Impairment Charges to Fixed Income Manager Western Asset Management with Commodity Futures Trading Commission Conducting Investigation into Derivatives Trades, Had Placed Chief Investment Officer Ken Leech on Leave of Absence in 2024 August After Civil Charges Filed by United States SEC, Investigations on Trade Allocations Involving Treasury Derivatives & Alleged Placing Winning Trades To Preferred Clients Accounts
9th November 2024 – Franklin Templeton ($1.6 trillion AUM) has reported $31.3 billion outflow & $389 million impairment charges (2024 Q3 earnings) to fixed income manager Western Asset Management with the Commodity Futures Trading Commission (CFTC) conducting an investigation into the derivatives trades. In 2024 August, Franklin Templeton fixed income manager Western Asset Management ($381 Billion AUM) had announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. Western Asset Management Company (21/8/24): “Western Asset Management Company (“Western Asset” or the “Company”), a global manager of active fixed-income solutions, announced today that it has appointed Michael Buchanan to Chief Investment Officer. Mr. Buchanan had served as co-Chief Investment Officer with Ken Leech, who is on a leave of absence, effective immediately. In line with the Company’s succession plan, Mr. Buchanan has been elevated to Chief Investment Officer. Along with his responsibilities as Chief Investment Officer, Mr. Buchanan has assumed leadership of all global investment management responsibilities. With nearly two decades at the Company and over three decades of industry expertise, Mr. Buchanan has helped lead the Company’s Global and US Strategy Committees and has had direct oversight of the Company’s global investment teams, including global macro and all sector teams. Prior to Western Asset, Mr. Buchanan served as Managing Director and Head of US Credit Products at Credit Suisse Asset Management and as Executive Vice President and Portfolio Manager at Janus Capital Management. As disclosed in the 10-Q filed by Franklin Resources in July, the Company launched an internal investigation into certain past trade allocations involving treasury derivatives in select Western Asset-managed accounts. The Company is also cooperating with parallel government investigations. Mr. Leech recently received a Wells Notice from the Staff of the U.S. Securities and Exchange Commission, and is on a leave of absence to focus on this matter.”
$1.6 Trillion Franklin Templeton Fixed Income Manager Western Asset Management to Close $2 Billion Macro Opportunities Strategy Fund, Placed Chief Investment Officer Ken Leech on Leave of Absence After Civil Charges Filed by United States SEC, Investigations on Trade Allocations Involving Treasury Derivatives & Alleged Placing Winning Trades To Preferred Clients Accounts, Western Asset Management Appoints Michael Buchanan as Chief Investment Officer With Immediate Effect
22nd August 2024 – Franklin Templeton ($1.6 trillion AUM) fixed income manager Western Asset Management ($381 Billion AUM) has announced to close the $2 billion Macro Opportunities Strategy Fund, and placed Chief Investment Officer Ken Leech on leave of absence after civil charges were filed by the United States SEC (Securities & Exchange Commission). The investigations are on trade allocations involving treasury derivatives, and alleged placing winning trades to preferred clients accounts. Western Asset Management has appointed Michael Buchanan as Chief Investment Officer with immediate effect. Western Asset Management Company (21/8/24): “Western Asset Management Company (“Western Asset” or the “Company”), a global manager of active fixed-income solutions, announced today that it has appointed Michael Buchanan to Chief Investment Officer. Mr. Buchanan had served as co-Chief Investment Officer with Ken Leech, who is on a leave of absence, effective immediately. In line with the Company’s succession plan, Mr. Buchanan has been elevated to Chief Investment Officer. Along with his responsibilities as Chief Investment Officer, Mr. Buchanan has assumed leadership of all global investment management responsibilities. With nearly two decades at the Company and over three decades of industry expertise, Mr. Buchanan has helped lead the Company’s Global and US Strategy Committees and has had direct oversight of the Company’s global investment teams, including global macro and all sector teams. Prior to Western Asset, Mr. Buchanan served as Managing Director and Head of US Credit Products at Credit Suisse Asset Management and as Executive Vice President and Portfolio Manager at Janus Capital Management. As disclosed in the 10-Q filed by Franklin Resources in July, the Company launched an internal investigation into certain past trade allocations involving treasury derivatives in select Western Asset-managed accounts. The Company is also cooperating with parallel government investigations. Mr. Leech recently received a Wells Notice from the Staff of the U.S. Securities and Exchange Commission, and is on a leave of absence to focus on this matter.”
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