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No. of Recommendations: 5
Couple things: I think you'll get $3 of the YTD share-price losses back once the special div pays out - went ex-div last week. http://news.franklinresources.com/news-center/press-releases...

But the big problem I see is the bond side. Fixed income is $200 billion or about 40% of assets per the quarterly report: http://s2.q4cdn.com/329803744/files/doc_financials/quarterly...

Value of muni bond funds in particular is down due to tax reform, and general bond-market fear could drive further outflows. Add that to lousy environment for value on the stock side and it's easy to understand the short-term thinking pushing the shares down.

good luck,
dan
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