Franklin Resources provides investment services for individual and institutional investors. Its funds are marketed under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary, and Darby brands. At the end of September 2019, Franklin had $692.6 billion in managed assets, composed primarily of equity (39%), fixed-income (41%), and hybrid (19%) funds. Distribution tends to be weighted more toward retail investors (73% of AUM), as opposed to institutional (24%) and high-net-worth (3%) clients. Franklin is, however, one of the more global firms of the U.S.-based asset managers we cover, with half of its AUM invested in global/international strategies and a third of managed assets sourced from clients domiciled outside the United States.