Franklin Resources, Inc. (BEN) Q2 2023 Earnings Call Transcript

Franklin Resources, Inc. (NYSE:BEN) Q2 2023 Earnings Conference Call May 1, 2023 10:00 AM ET

Company Participants

Selene Oh - Head of IR

Jenny Johnson - President and CEO

Matt Nicholls - CFO and COO

Adam Spector - Head of Global Distribution

Conference Call Participants

Bill Katz - Credit Suisse

Michael Cyprys - Morgan Stanley

Dan Fannon - Jefferies

Brennan Hawken - UBS

Craig Siegenthaler - Bank of America

Alex Blostein - Goldman Sachs

Ken Worthington - JPMorgan

Glenn Schorr - Evercore

Brian Bedell - Deutsche Bank

Finian O'Shea - Wells Fargo

Operator

Good morning. Welcome to Franklin Resources earnings conference call for the quarter ended March 31, 2023. Hello, my name is Lara, and I will be your call operator today. As a reminder, this conference is being recorded and at this time all participants are in a listen only mode. [Operator Instructions]

I would now like to turn the conference over to your host, Selene Oh, Head of Investor Relations for Franklin Resources. You may begin.

Selene Oh

Good morning, and thank you for joining us today to discuss our quarterly results. Statements made on this conference call regarding Franklin Resources, Inc., which are not historical facts or forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are just described in more detail in Franklin's recent filings with the Securities and Exchange Commission, including in the Risk Factors and the MD&A sections of Franklin's most recent Form 10-K and 10-Q filings.

Now I'd like to turn the call over to Jenny Johnson, our President and Chief Executive Officer.

Jenny Johnson

Thank you, Selene. Hello, everyone, and thank you for joining us today to discuss Franklin Templeton's results for the second fiscal quarter of 2023. As usual, I'm joined by Matt Nicholls, our CFO and COO; and Adam Spector, our Head of Global Distribution.

Despite a difficult market backdrop exacerbated by stress in the regional banking sector, we continue to see positive momentum across our business in terms of long-term flow trends, relative investment performance, diversification by product and vehicle and financial results. Market dislocations often result in investment opportunities for skilled active investors. And in this regard, our investment performance continued to improve across asset classes.