Franklin Templeton Investment Solutions to Partner with New Venerable Investment Adviser to Design Funds and Select Money Managers for Venerable Variable Insurance Trust

Franklin Templeton Leverages Deep Expertise in Partnering with Insurers to Align Its Capabilities with Their Goals and Priorities

Franklin Templeton is deepening its asset management leadership in the insurance industry by entering into a partnership with Venerable Holdings, Inc. (“Venerable”). Venerable today announced that Venerable Investment Advisers, LLC (“Venerable Advisers”), its new wholly-owned subsidiary, intends to engage Franklin Templeton to provide sub-advisory services with respect to certain funds in its newly formed Venerable Variable Insurance Trust (“VVIT”). Franklin Templeton will provide sub-advisory services with respect to VVIT alongside Russell Investments.

“We are thrilled to partner with Venerable as a preferred asset manager and to collaborate with Russell Investments. Both are highly regarded in their areas of expertise, and together we have created unique and customized investment solutions through our complementary capabilities. With more than 75 years of investment management expertise, Franklin Templeton has a long history of managing insurance assets. With this experience, we bring distinct specialist investment managers and extensive multi-asset capabilities to deliver better outcomes for clients,” said Jacob Armstrong, Franklin Templeton’s Head of Insurance Strategic Distribution.

Franklin Templeton has been selected as a preferred asset management partner for the VVIT, which will be comprised of mutual funds, that will serve as investment options for insurance company separate accounts. This will include discretionary sub-advisory mandates, managed by Franklin Templeton Investment Solutions, partnering with Brandywine Global, ClearBridge Investments, Franklin Equity Group, Franklin Templeton Fixed Income, and Western Asset Management. The sub-advised strategies referenced are the Venerable Large Cap Strategic Equity Fund, Venerable Strategic Bond Fund and Venerable High Yield Fund.

“It was important to select partners with the right capabilities and expertise as we establish Venerable Advisers. The deep investment management expertise of Franklin Templeton combined with the leading investment solutions of Russell Investments will be a tremendous asset to us,” said Tim Brown, President of Venerable Advisers. “We appreciate the collaborative nature of the work done thus far and look forward to continued work with these partners as we continue to grow and optimize our business.”

Franklin Templeton Investment Solutions has over 25 years of experience crafting multi-asset and quantitative solutions powered by Franklin Templeton’s best thinking and draws upon the broad spectrum of investment strategies offered by the firm. Franklin Templeton Investment Solutions has a deep commitment to solving the most complex challenges of our clients through custom-built solutions.

“Franklin Templeton has a deep history of partnering with the largest and most prolific insurers across the globe, aligning capabilities with their goals and priorities. With over $145 billion in insurance assets under management, Franklin Templeton is dedicated to seeking ways to help the insurance industry address their evolving needs,” said Jeff Masom, Head of US Distribution.

About Franklin Templeton

Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization with subsidiaries operating as Franklin Templeton and serving clients in over 150 countries. Franklin Templeton’s mission is to help clients achieve better outcomes through investment management expertise, wealth management and technology solutions. Through its specialist investment managers, the company offers specialization on a global scale, bringing extensive capabilities in fixed income, equity, alternatives and multi-asset solutions. With more than 1,300 investment professionals, and offices in major financial markets around the world, the California-based company has over 75 years of investment experience and approximately $1.4 trillion in assets under management as of September 30, 2023. For more information, please visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.

All investments involve risks, including possible loss of principal.

Franklin Resources, Inc. and its subsidiaries offer investment management services through multiple investment advisers registered with the SEC. Franklin Templeton, One Franklin Parkway, San Mateo, CA 94403-1906, 1-800-321-8563, ftinstitutional.com

A registration statement relating to VVIT has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus. It is important to read and consider the prospectus carefully before investing. Copies of the preliminary prospectus are available online in the SEC’s EDGAR database under the name “Venerable Variable Insurance Trust” at www.sec.gov. Please note that the preliminary prospectus is subject to change.

Copyright © 2023. Franklin Distributors, LLC. Member FINRA/SIPC. All rights reserved.

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