![]() ![]() The company's stock began trading on the New York Stock Exchange in 1986. Starting in 1980, the company's total assets under management doubled (or nearly doubled) every year for the next six years. In 1979, Franklin Money Fund began a growth surge that made it Franklin's first billion-dollar fund and launched the company's significant asset growth in the 1980s. The combined organization had close to US$250 million in assets under management and approximately 60 employees. In 1973, the company acquired Winfield & Company, a San Mateo, California-based investment firm, and moved Franklin's offices from New York to California. Rupert Johnson, Jr., Charlie's brother, joined the company in 1965. At that time the funds had total assets under management of US$2.5 million. ![]() Johnson (Charlie), took over as president and chief executive officer in 1957 at age 24. The company's first line of mutual funds, Franklin Custodian Funds, was a series of conservatively managed equity and bond funds designed to appeal to most investors.Īfter Rupert Sr. He named the company for American polymath Benjamin Franklin because Franklin espoused frugality and prudence when it came to saving and investing. Johnson, Sr., who ran a successful retail brokerage firm from an office on Wall Street. The company was founded in 1947 in New York by Rupert H.
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