geographies and creates an expansive investment platform that is well balanced between institutional and retail client AUM. In November 2021, Franklin Templeton announced its acquisition of Lexington Partners in a $1.75billion cash deal. The acquisition completed in April 2022. In January 2022, Franklin Templeton acquired O'Shaughnessy Asset Management, an asset management firm founded by James O'Shaughnessy. On May 31, 2022 it was announced that BNY Mellon Investment Management would sell Alcentra to Franklin Templeton and the transaction was completed on 1 November 2022. Mutual funds and ETFs Franklin Templeton has 455 open-ended mutual funds and seven closed-end funds. Included in these are 27 state and federal tax-free income funds, an area of investment pioneered by Franklin. Prominent funds include the Templeton Growth Fund, Inc. (opened 1954), the Mutual Shares fund (opened 1949), and the Mutual Discovery Fund (opened 1992) and the Templeton Growth (Euro) Fund. The Franklin Income Fund (FKINX) is a mutual fund in Morningstar's "conservative allocation" category and "large/value" style box. The fund was created in 1948 and has paid uninterrupted dividends for 60 years. The Franklin Income Fund is constructed primarily of dividend-paying stocks and bonds (2%). Franklin Templeton launched its first exchange-traded fund (ETF) in 2013. This included 55 active, smart beta and passively managed ETFs in the U.S, with US$9.7 billion in assets under management in 2021. In 2021, Franklin Templeton launched the first "tokenised" US mutual fund as a pilotit uses a blockchain to process transactions and record share ownership. The technology is provided by the Stellar network and Blockchain Administrator, a Delaware company. The OnChain US Government Money Fund pilot started with $1.4M of seed money and investment from employees. The automated administration can trade around the clock and removes the need for brokerages, which should result in a "highly significant decrease in fees". However, the fund actually has a high level of costs because of its small size and the fact that, as a pilot, it is maintaining traditional records in parallel. See also List of mutual-fund families in Canada References External links Fiduciary Trust memorial page for employees who died in 9-11 Investment management companies of the United States Mutual funds of the United States Holding companies of the United States Companies based in San Mateo, California Financial services companies based in California American companies established in 1947 Financial services companies established in 1947 Holding companies established in 1947 1947 establishments