fiscal Matt Thank XXXX call, COO; thank Hello, everyone, and joining On our Distribution. for today results. and discuss Nicholls, Head by our Selene. Spector, Franklin CFO fourth I'm Adam quarter you joined to today's Templeton's Global you, us and year and of
we'd I to several and on the results, that, your comment quarter then be business past After will executive evolution will our the well years answer as our As Matt commentary, presented as year happy financial XXXX. questions. our in our over highlights and fiscal fiscal review fourth of from
help in will our conditions achieve new presented their goals market format, investor years, In a intentional wide capabilities adding be through investment The only a business way we to of of annually. have range cycles. has includes variety information and clients recent a that expanded an presentation
appreciate recognize the firsthand over to taken have succeed many I've business meeting to clients the As and our steps further Templeton and world they term. I've traveled Franklin that investors, diversify we long seen with the position and
Our the appreciate across needs markets their public partner with ability solutions. clients of choice. meet capabilities They to to and comprehensive view private us as and in customize through innovative fulfill a investment investment their their our trusted vehicles needs and ability delivery their
Templeton leverages Franklin clients of our specialist range deliver across of to multiple the investment a wide talent asset and managers investment our styles expertise classes. to
deep artificial centralized Our investment innovative marketing, data teams blockchain Franklin in like with intelligence. investments Templeton's and resources benefit distribution, scale from and and technologies
investing shareholders specialist firm operating investment Furthermore, most managers no model than benefits And of as and that of themselves XX% Most at specialist teams investment corporate we AI, with manager industry single our relevant are adjusted blockchain clients. our our contributing to and areas the have in important well. our our other more the within recently, revenue. future benefit will of diversified been
on years Now the X Franklin going we forward. evolved and turning much presentation. how over X, where are notable it's the business its investor to has past and Beginning Templeton focused X Slide
have targeted we diversification AUM growth of higher organic via accelerated acquisitions increased years, past Over and of and areas X the demand. growth the client into our
managers to And adjusted those acquisitions have of operating and of places. growth AUM specialist more now choice XX% areas to significant we XX% in Since offer clients in the position the represent of more XXXX, beginning and of to firm acquired completed investment revenue. more
institutional now period, to increased management. institutional that balanced we And between wealth XX% and well AUM XX%. our In from are
number have strides across We great made key areas for focus of the a company.
and management. Turning with to Slide investment X starting
goals. meet varied investment financial to of clients their capabilities We have now a full spectrum help
power combining of insurance is example into investment added acquisition important and in $XX of channels. stable and demonstrated Putnam distribution, date This Templeton's flows led which value, such strong the capabilities the an Franklin Putnam the year, products. which outperforming target net retirement resources. This with of billion are distribution performance Investments And to as in we powerful
Our as the investment our of continuing well performance optimizing is improve offerings. product as investment range on focus to
also leverage both the private capabilities markets in opportunity breadth see to And across are position of We investment as the converge. markets. and our these to begin we public
For over includes fund venture and into has example, for strategies. Franklin global decade, been funds putting credit allocation mutual late-stage private a Franklin's
capabilities assets including and venture. equity, manager estate, with in secondary leading private offer we a approximately of $XXX real alternative hedge alternative As billion funds AUM, credit, key
sizable since XXXX, and proud alternative Since alternative has organic I'm part acquisitions investment across has note fiscal specialist clients. year Franklin AUM growth. asset X vehicles diversified of each manager that expanded Xx becoming to and strategies, through over and by increased Templeton,
XX% on it can be Specifically, much towards wealth AUM But channel for only in The has of management have example, up alternatives needs, the management. allocating wealth X% alternatives. years. on role the approximately of Institutions, clients' to depending allocated liquidity been for higher.
alternative year, by EMEA investor dedicated team breadth that wealth the management in to we distribution and relevant of the brand and Franklin us pleased capabilities wealth the Templeton we're the specialist and our channel. look it Asia. footprint, global management with established platform This Our in investment broaden education channel a in make in U.S. combined force alternatives
well capabilities, fundraise private add infrastructure additional years, least Over markets to $XXX in to our certain at across goal instance, is and for X as strategies. as look globalize the to billion next
distribution. turning Next, to
are one clients XXX clients vehicles a but investment global managers essential most of in the in not countries. just marketplace. with We of is Offering beneficial today's asset over range diverse comprehensive
SMAs. each grown And over fiscal year, and particular, growth this In reaching ETFs and Over ETFs Canvas AUM Xx. by the retail growth last SMAs, accelerated in X in AUM have highs. has meaningful years, custom indexing both we record retail seen
has in positive been number consecutive that quarter X Our billion ETF quarters. in at the consecutive last fact, X And $X $X exceeding XX% with over flows each. billion or grew business by the for XXth net net with the in quarters, flows year for
in just billion Canvas ago. XX% net few from years increased acquisition strategies by every $XX has AUM firms number since and its inflows XXXX. at a ago. XX% and X stand to quarter X year $XX of almost increased year the assets prior by the Total We generated across from partner from index active in positive billion
the Over and ETF AUM years, by scale we Xx. to looking assets next Xx are by Canvas X
Today, billion we are a increase leading of provider SMAs in prior XX% an the with assets, retail from $XXX-some of year.
Going offerings. expanding forward, we product focused our are on
and a variant launched For our retail example, SMA we option utilizing flagship tax-managed Canvas. Income strategies Franklin launched Fund of
investment of a our critical Investment solutions private funds Franklin across clients' billion and demands. meet growth public by from size leveraging and will component Putnam's $XX the the our year customized to doubled solutions and solutions date strategy AUM remain in classes to of deliver with almost organic growth. additions our Templeton KX target to asset prior capabilities through
X next we to the Over more aim than years, our double platform. solutions
as engagement, we've our of aspect us to will in resources capabilities, in relationships services each with and partnerships well multibillion strategic This Additionally, our year, depth value-added breadth and valuable been regions, delighted of growth clients the future. of capital and positions important a partner. investment remain establish new dollar an
has and XXXX. transfer older wealth areas wealth. important transfer management in pass Two management segment, airs boomer Trust a due XX. transfer their intergenerational $XX ] International generations are clear be households digital of unprecedented and through other trillion wealth largest generation. the the Slide the In private opportunity to from technology. [ private growth $XX the wealth to Fiduciary This in with to history trillion will will from baby set to Turning
services. and custody planning, It has Fiduciary advisory, client investment tax planning impressive fully integrated and of trust a is estate wealth retention rate platform XX%. with an approximately
reaching an AUM, flows and high Fiduciary had Since the all-time $XX billion X years. its XXXX, annually positive for doubled net of past
this look we by organic both and This owning a standalone forward, wealth opportunity. and a the business investments broader acquisitions. represents size targeted Going to a manager through distribution double also of opportunity
of continues strategic innovation in firm. for importance and cutting-edge Investing the technologies be to
value-added important including of made operations. our and technology and increasingly to important order wealth We digital have to in be clients forefront the services, in areas in on innovation investments
deliver responsibly and value addition, processes our to of more is Franklin greater In early clients to to intelligence, adopters and working AI make as boost artificial employ efficient. productivity, Templeton operations investment
Microsoft A that great was is announced our partnership with example last quarter.
collaboratively an more our support sales AI creating marketing personalized clients. help working artificial will to processes, advanced intelligence financial and build our into are for embed that platform We
asset digital continue we to new technology. the blockchain look space, In leverage for ways to
U.S.-registered the a to fund to public and record use example, first transactions launched in ownership we blockchain process For XXXX. share
we our digital launched Franklin investment easier ETF year, solutions. this making asset And for with ETF, Franklin to Ethereum clients it opportunities Bitcoin access and
will are there in operational space. this shortly. forward, exciting integration management expense Matt cover capital are underway many Looking that and advancements management, more
year, services global more large bonds during by exceeding Turning fiscal our to top growth rose firm XX%, much of outperformed stocks Throughout and the the nearly year. communication caps performance than small by with XX%. technology increased while driven by Global caps market value stocks. equities
major artificial advance while the inflation Moderating Seven the the intelligence Magnificent yields the and stocks past helped bond Investor technology XX% was gain. theme broader XX notched enthusiasm XX%, around over a sector declining months.
quarter, beyond corresponding a Seven. equity was there fourth the our Magnificent also in In leadership shift market
In X through outperformed October. the year-to-date in the fact, S&P group stocks only X of this meaningfully have
is over XX recent quarter were months. the technology previous encouraging and most in winners X the for participation the services, X the versus have sectors broader managers. prior X the of outperformed active during S&P Broader communication XXX market quarter. sectors, Both outpaced laggards
about XXXX make the extension, the the in to XX Investors' mid-September while durability Federal the volatility has by elevate from landing and decision quarters. outlook more basis market's for Reserve's focus likely, deeper interest concerns push global the easing of corporate may the in coming inflation to expansion for rates monetary profits. by And soft shifted points a economic in cut
like progress The actions outlook to market jobs week, the signals the however, week the and this disinflation. it greater temporary strike reasonable the data. rates market hurricanes and difficult as uncertainty to Recent on seems the again is comfort this impact on speak with the latest Fed cut assumption. disentangle for most from recent of expects There Fed is, a labor
for we take fixed begins less attractive. primary to income sectors Fed's rate-cutting place the look cycle as expect cash As traditional their a as to proceeds, source yield
at tight their While And at current sharp not find spreads deceleration opportunities we in income activity. a levels, yields. attractive are anticipating fixed continue managers to are our
segments. is investment select markets, specialist see these markets in estate continue And gain credit, as equity continue managers alternative private premium demand secondary differentiated in and to real at for investment our expertise to a opportunities Meanwhile, private interest. strong
excited debt, for billion. in BSP Lexington. see where $X strong particularly in private private estate credit, alternative in interest we we're secondary manages need example, real opportunities equity, And the in given For by equity at liquidity
flat essentially Mutual the from the prior and periods the Turning improved period year. now the prior in and of XX-year XX-year investment and X- results terms stayed X- year. improved investment fund performance performance. Composite fiscal in in in XXXX investment to performance X-year the from X-,
net year, close, the $XX.X were distributions billion. for outflows On were long-term billion $XX.X fiscal and reinvestment
of compared the Western Management, were long-term $XXX long-term outflows the saw $XX We Excluding inflows Asset year. to billion $X.X prior in billion a net from XX% inflows to increase in year prior billion. net
by public see across business a XX% by perspective, flows institutional continues client to gross Americas From asset long-term regional retail APAC And sales improved classes $XXX surpassing perspective, U.S. a in that XX%. region grow. to type by sales distribution increased momentum with increased the institutional by across all improved And XX%, and continued the seen and have both net retail pleased EMEA XX% we international for channels. well AUM by every sales XX%, sales as We're as in in billion. and the positive year have markets from the XX%. Gross our and
market billion, year our targets. line private Lexington an fiscal in alternatives fund primarily turning in in secondary class fund in with approximately wealth largest to total global XX% date Slide with raised to 'XX, on channel. commitments billion $XX.X From markets raised among raise equity and closed with flagship in ranking its and XXXX, capital raised XX, perspective, asset $XX.X funds the the in the 'XX private
each with fund flagship million fund situations with capital billion exceeding its raised, total private credit and Benefit Street and special closed Partners $XXX fund commitments $X.X in targets. respectively, its
remained stable in real there sector AUM Partners the We sentiment increasing year. in worst is that despite behind is estate that us. Clarion weakness the believe
beginning XXXX. fiscal the confidence For in example, there volume, transaction transactions potential a for strengthening the benchmark ODCE in pickup is turned positive. year And for of
well are sector the products X% multifamily with such sectors office industrial, of life and well-performing positioned forward, and strong Going as in science. exposure minimal we in
new about include living in strategies medical logistics excited In European addition, and including we're self-storage, growth types. the that investing in alternative areas property new student of U.S., and fund housing, senior
Franklin the billion $X flows Turning were flows Templeton by in to public positive Solutions. net Fund, Canvas net Investment Income markets. Franklin driven Multi-asset and
this excluding sales you quarter and XX, distributions. Slide equity XX% On can grew each reinvested year-over-year, year see improved
long-term year-over-year In XX%. by increased inflows addition, fixed income
Western Asset. Now turning to
As in past derivatives The an certain those Asset-Managed launched investigations SEC Co-CIO, treasury you former focusing select ongoing. and allocations on are internal are by conducting strategies. Western are and of CFTC aware, we trade investigation DOJ, parallel Ken Leech, investigations,
On take on government. absence August and fully was cooperating this Leech a XX, seriously We we leave announced notice are of with that a following Ken receipt SEC. from extremely the the Wells matter of
the Since Asset the year. for in quarter billion higher outflows fiscal announcement significantly of fourth Western net the $XX experienced investigations, billion has and the $XX of
across who XX Co-CIO, However, than XXX Western Mike continues team the today, sole billion manage professionals strategies. $XXX by promoted highly more investment to approximately led Buchanan, marketed from of CIO AUM experienced was in the
Western providing experience. over decades performance X service. of Mike with leading continues been to client and and decades team investment has has industry focus nearly The on X
the beginning trading of reviewed with standards, being by investigations, aligned Western and practices. has trading experts. Asset's the Western industry enhanced review, been its policies have this Per policies Since despite third-party further
that while I'm market public investment ongoing independence. this sure address with other we matter investment Franklin or questions may we to entail with Western time. including Asset, operational further you team information Western's arrangements, that are implemented addition, what working on to are and maintaining adjustments is provide And synergies. our assist with In changes to unable revenue this to similar any managers ways specialist explore This at understand an investigation, economic Resources to have successfully management process
from Asset, the Macro, Global Templeton think and income, investment fixed management Western breadth philosophies. expertise, have our investment income including important Global noncorrelated fixed Aside it's highlight to of Franklin we Brandywine Templeton which
income in yet funded specialist generated teams September Franklin assets in in aggregate billion the net investment Furthermore, year. Templeton and the not of billion $X.X largest pipeline. flows positive fiscal of our these component comprised fixed As fixed won managed XX, $XXX of income but
this won quarter, Speaking billion. of mandates pipeline, unfunded pipeline $XX.X was the but of our institutional
While $X in a and pipeline across included Western. decrease new investment prior at remains our asset billion diversified value wins by mandate specialist quarter the replenished client fundings, our managers. the from in a The class change
Since performance. in presence Putnam insurance track enhanced channels Investments, closing X, acquired January billion. has grown has AUM transaction we year, continues at a $XXX also this strong Finally, with record to expectations. billion. on of these deliver XX% Putnam's which $XXX exceeded our markets investment The Putnam and AUM in our to retirement
the me diversify the and up pride by Let years past wrap grow saying take we few further in business. efforts we've our made over to
opportunities We created years. have the upheld XX us for defined high challenges, over have navigated new and standards that
and the like I unwavering around employees work our Finally, commitment their putting clients to our to first. behind world force would their is It's that the thank our dedication driving for hard always success.
to like to our you. CFO will Matt I'd over over quarter call and our review Now year. turn who Nicholls, to financial the for and fiscal the results Matt, COO,
