WILMINGTON, DEL—Wilmington Trust, N.A. has been selected by Franklin Templeton Investments to provide administration, transfer agent , and custody services to its existing collective investment funds, which have approximately $5.5 billion in assets as of Dec. 31, 2017. Wilmington Trust’s back office support will allow Franklin Templeton to focus on its strategic asset management and retirement priorities, while its affiliated trust company, Fiduciary Trust International of the South, a Florida chartered trust company, remains the trustee for the funds.
Wilmington Trust and Franklin Templeton Investments have launched additional trusts in strategies that have strong demand from retirement plan advisors and their clients like Templeton Foreign and Franklin Growth.
“It’s an exciting time to be in the retirement plan industry as advisors, asset managers, and plan sponsors search for investment vehicles that meet their unique needs,” said Rob Barnett, administrative vice president and head of Retirement Distribution at Wilmington Trust. “We’re thrilled to continue to support the growth of collective investment funds as a critical investment vehicle for 401(k) retirement advisors and plan sponsors.”
Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the firm has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company’s more than 650 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in more than 30 countries, the California-based company has 70 years of investment experience and over $753 billion in assets under management as of Dec. 31, 2017. For more information, please visit www.FranklinTempleton.com