Why Franklin Resources Is Buying Legg Mason for Almost $4.5 Billion

we have like

mason

franklin

templeton now merging, tell us why, as you know, asset managers around the world have been having a lot of problems,

franklin

's stock has taken a little dive in the last few months, you have, for other side, the leg. Mason has proven himself in the actions of him driving change, part of that means consolidation, this is a nice little cash bonus, now the question is whether they can pull this off. When we see fusions of this type, we often see a bit of wear on both. when it comes to money managers and when it comes to clients because there is uncertainty when it comes to integrating the deal and therefore two and a half trillion of that is what they will have acid under management.

Are there any other players out there like the competing was a size like that, think about it, this will be a

billion

and a half and Goldman is above that, so 11

billion

there aren't many money managers of that size and scale, but there are many who are above them. Blackrock it's true, you have a much bigger ti again, this will be an interesting mix of institutional and retail clients and both are doing well. Can you see what the cost of that is? What would stop them from doing well at both? Both types of customers want different types of products.

If you are an institutional client, you probably have much more weight to invest in private assets. It's harder to access things. If you're a retail customer, you're typically known for your lower passive fees. products that they can't access, private equity products, will these people also be able to compete with companies like Blackrock, who offer that wide range of products to their institutional clients?