Franklin's Technology Budget Jumps But Consolidation Proceeds On Schedule

SPECIAL REPORT

Franklin Resources, parent company of the Franklin Templeton mutual funds, spent $46.6 million on technology during the first quarter of its 1998 fiscal year, ended December 31, 1997. In the same quarter a year earlier, the company spent $25.8 million on information technology.

The jump was hardly unexpected or unusual for Franklin: Its technology budget has risen steadily since 1995, when it spent $73.7 million. In fiscal 1997, ended September 30, the San Mateo, California, company spent

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