San Mateo, Calif.-based Franklin Resources announced today that it has entered into an agreement to buy Legg Mason for $4.5 billion in cash, creating a $1.5 trillion asset manager. The deal is expected to close in the third quarter of 2020, pending approval from regulators and other parties.
Franklin Utilities A1 FKUTX
NAV / 1-Day Return
21.57
/
0.14
%
Total Assets
6.1 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.730%
Expense Ratio
0.730%
Fee Level
Low
Longest Manager Tenure
21.83
years
Category
US Fund Utilities
Investment Style
Large ValueMin. Initial Investment
1,000
Status
Limited
TTM Yield
2.61%
Turnover
8%
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Morningstar’s Analysis
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The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FKUTX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FKUTX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FKUTX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Franklin to Buy Legg Mason
