Franklin Resources, Inc. (BEN) announced the launch of a new Retirement Advantage Plus target‑date fund on March 12, 2026. The fund expands the firm’s award‑winning Retirement Advantage series by adding private‑market exposure while preserving the established glide‑path and active‑management philosophy that has driven the series’ success.
The Retirement Advantage Plus fund incorporates modest allocations to private real‑estate and private credit, with exposure managed through Clarion Partners Real Estate Income Fund Inc. and Franklin BSP Lending Fund. Allocations to private markets are designed to range from approximately 2 % to 8 % over the glide path, providing a low‑correlation, higher‑yield component that complements the core equity and fixed‑income mix.
Franklin’s strategic rationale is to broaden diversification for 401(k) and other retirement plan participants amid a growing demand for alternative‑asset solutions. The launch coincides with the Retirement Advantage series being named Lipper’s most‑awarded target‑date franchise for the second consecutive year, underscoring the firm’s leadership in retirement investing.
"Plan sponsors and participants are not all looking for the same thing, and innovation means meeting them where they are," said Steve McKay, Head of U.S. Retirement, Insurance & College Savings at Franklin Templeton. "Retirement Advantage Plus adds a new option to our award‑winning Retirement Advantage target‑date series by providing access to private markets within a 401(k) plan." "This is an extension of our traditional target‑date approach," added Brett Goldstein, Head of Asset Allocation Portfolio Management at Franklin Templeton Investment Solutions. "We are applying the same philosophy and risk‑management discipline that have defined the Retirement Advantage series, while thoughtfully expanding the opportunity set for investors who want additional diversification."
The new fund is expected to enhance fee‑generating opportunities and attract investors seeking private‑market exposure within a regulated mutual‑fund structure. It also aligns with Franklin’s broader strategy of integrating alternative assets into its retirement platform, a move that complements the firm’s strong Q1 FY2026 earnings, which saw adjusted EPS of $0.70 and revenue of $2.33 billion—both well above analyst expectations.
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