NoneAlberta working to get money's worth on Turkish medication deal after two years EDMONTON — Alberta Premier Danielle Smith says the government is working to get taxpayer value for the money it paid for medication that has yet to be approved and delivered. Lisa Johnson, The Canadian Press Dec 6, 2024 3:43 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Alberta Premier Danielle Smith address the children's medication shortage in Edmonton on Tuesday, Dec. 6, 2022. THE CANADIAN PRESS/Jason Franson EDMONTON — Alberta Premier Danielle Smith says the government is working to get taxpayer value for the money it paid for medication that has yet to be approved and delivered. Smith announced the plan two years ago amid a national shortage of children's pain medication. The province spent $70 million upfront to import five million bottles from Turkey-based Atabay Pharmaceuticals. But Alberta Health Services said Friday that Health Canada only approved 1.5 million bottles or $21 million worth of product. That left a credit of $49 million. Smith said this week the holdup is with Health Canada, which would have to approve a new suite of imports for the province to get its money's worth. “We’re waiting for Health Canada to work with AHS to identify the products, get the formulations, approve it, so that we're able to execute on it. Those things take time," Smith said in a year-end interview. The premier said the province had to pay the $70 million upfront. "They delivered a portion, and then the supply chains were restored, and we didn't need to fulfil it with the two products we'd initially ordered. So we have a credit on file with Atabay,” said Smith. The government and AHS declined to say what specific products they're seeking or when they might arrive. “We want it to be delivered soon," said Smith. Health Canada said it cannot comment on submissions until they are added to their public lists of submissions under review. AHS said the $70-million prepayment went to Edmonton-based medical supplier MHCare. AHS did not address questions about how common it is to pay the entire contracting fee upfront with no apparent backstops to ensure fulfilment. The costs of shipping, waste disposal and other administration tied to the deal were initially estimated to be an extra $10 million, but are yet to be finalized. NDP Leader Naheed Nenshi said Smith's United Conservative government signed a deal that didn't follow normal procurement practices, and it backfired. "The federal government had already signed a deal to get real Tylenol onto the shelves that arrived before the Turkish Tylenol," he told The Canadian Press. "Albertans should be really angry, because we basically have given $80 million of taxpayers money that could have built schools." Smith's government has stood by the decision to import the medication because, in late 2022, parents were desperate to find relief for their children at the height of the respiratory virus season. The purchase has long been mired in difficulties. It was immediately beset by delays, as the province sought regulatory approvals and sorted out packaging and warning labels. Pharmacists had to keep some of the medicine behind the counter to make sure customers who bought it were aware of the comparatively lower dosage. Hospital neonatal units eventually stopped using it due to safety concerns. The purchase also sparked questions about whether the province's relaxed ethics rules meant elected officials could be bought for the right price. Multiple UCP cabinet ministers have said they accepted free tickets from MHCare to Edmonton Oilers hockey games during the Stanley Cup playoffs. They said they followed conflict-of-interest rules and denied any claims of disreputable behaviour. Health Minister Adriana LaGrange has said AHS has identified what imported adult medications it could use, is in negotiations with Atabay and is working to get approval from Health Canada. “Once those processes have been gone through, I will be happy to share exactly what those medications are,” she said Thursday. "My goal has always been to get products that we can use, get maximum value out of what's remaining on the books there, and that's what's happening." This report by The Canadian Press was first published Dec. 6, 2024. Lisa Johnson, The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Alberta News Edmonton Elks agree to terms with quarterback Tre Ford on a three-year extension Dec 6, 2024 3:20 PM Alberta releases new rules and no-go zones on wind and solar projects Dec 6, 2024 2:51 PM Manitoba premier says conservation officers to help patrol Canada-U.S. border Dec 6, 2024 1:51 PM
By Olusola Jide Jide Geezers Sport Academy, a football management agency, has announced the launch of its inaugural Secondary School Football League, set to commence in the first quarter of 2025. The announcement was made by the Director of Project and Programme Development, Mr. Adedayo Adeniyi, during a media parley held in Abuja. Adeniyi revealed that the league would be played across Nigeria’s 36 states, including the Federal Capital Territory (FCT). The initiative aims to discover and nurture young football talents, fostering opportunities for them to thrive in the sport. “As we look ahead to 2025, we are excited to unveil key programs that will deepen our impact,” said Adeniyi. “This groundbreaking league for secondary school students is designed to promote grassroots football development, competitive excellence, and core values such as teamwork and discipline.” The pilot phase of the league will begin in the FCT in early 2025. Adeniyi also emphasized Geezers Sport Academy’s commitment to forging strategic partnerships with stakeholders in Nigeria’s sports sector, including the Sports Writers Association of Nigeria (SWAN), to ensure the success of the project. “By collaborating with stakeholders in football, education, and community development, we aim to create sustainable opportunities for young talents across Nigeria,” he said. “At Geezers Sport, we are dedicated to harnessing the power of football as a transformative tool for community and social development,” he said. Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.
Syria govt loses control of key city DaraaWhy BJ's (BJ) Stock Is Up Today
DEAN McCullough and Ant McPartlin came face-to-face on I'm A Celebrity tonight after fans said they spotted a feud between them. Radio 1 DJ Dean has done several dreaded Bushtucker Trials - therefore spending a lot of time with Ant and Dec. In tonight's (November 22) episode, Dean and McFly star Danny Jones took on the latest trial, High Street Of Horrors. Shortly after their arrival, Ant acknowledged past tension between the two. He told the celebrity campmate: "Dean, I'm not angry anymore, I'm just disappointed." The trial itself comprised three shops, each containing a number of stars to win for camp. Overall, the objective was to locate all of them within the allotted time for their shopping spree. The first stop, Grim Grocers had three stars on offer with three minutes to find them. Danny, in his eagerness, tripped over when the klaxon sounded. In their effort, the duo won a total of eight stars for camp altogether. At the same time, new additions Reverend Richard Coles and Maura Higgins continued their deceit of the main camp. Arriving before Danny and Dean, they pretended to have already done the trial miserably - winning no stars. Reverend Richard joked: “I’m really consumed with guilt!” A twist after the trial saw Dean go back to the Junkyard with Maura and Reverend Richard. Ant previously addressed the "feud" with Dean during Thursday's episode of ITV2 spin-off show Unpacked. The star admitted he was "annoyed" at the DJ for screaming 'I'm A Celeb' and quitting the task early - and being "unprofessional" in how he dealt with it. He said: "My annoyance came across on screen and it was quite unprofessional and I'm not happy about it." Dec sarcastically responded "I think you hid it quite well, Ant...I think you hid it quite well." Ant went on: "You get to the point when you think 'what are you doing?'" Taking to social media, viewers at home shared their observations. i'm A Celebrity is back for its 24th series, with a batch of famous faces living in the Aussie jungle. The Sun's Jake Penkethman takes a look at the stars on the show this year.. Coleen Rooney - Arguably the most famous name in the camp, the leading WAG, known for her marriage to Wayne Rooney , has made a grand return to TV as she looks to put the Wagatha Christie scandal behind her. The Sun revealed the mum-of-four had bagged an eye-watering deal worth over £1.5million to be on the show this year making her the highest-paid contestant ever. Tulisa - The popstar and former X Factor judge has made her triumphant TV comeback by signing up to this year's I'm A Celeb after shunning TV shows for many years. Known for being a member of the trio, N-Dubz, Tulisa became a household name back in 2011 when she signed on to replace Cheryl on ITV show The X Factor in a multi-million pound deal. Alan Halsall - The actor, known for playing the long-running role of Tyrone Dobbs on ITV soap opera Coronation Street, was originally signed up to head Down Under last year but an operation threw his scheduled appearance off-course. Now he has become the latest Corrie star to win over both the viewers and his fellow celebrities. Melvin Odoom - The Radio DJ has become a regular face on TV screens after rising to fame with presenting roles on Kiss FM, BBC Radio 1 and 4Music. Melvin has already been for a spin on the Strictly dancefloor and co-hosted The Xtra Factor with Rochelle Humes in 2015 but now he is facing up to his biggest challenge yet - the Aussie jungle . GK Barry - The UK's biggest social media personality, GK, whose real name is Grace Keeling, has transformed her TikTok stardom into a lucrative career. Aside from her popular social media channels, she hosts the weekly podcast, Saving Grace, and regularly appears on ITV talk show, Loose Women. She has even gone on to endorse popular brands such as PrettyLittleThing, KFC and Ann Summers. Dean McCullough - A rising star amongst this year's bunch of celebs , Dean first achieved notability through his radio appearances on Gaydio and BBC Radio 1. He was chosen to join the BBC station permanently in 2021 and has featured prominently ever since. He has enjoyed a crossover to ITV over the past year thanks to his guest slots on Big Brother spin-off show, Late & Live. Oti Mabuse - The pro dancer has signed up to her latest TV show after making her way through the biggest programmes on the box. She originally found fame on Strictly Come Dancing but has since branched out into the world of TV judging with appearances on former BBC show The Greatest Dancer as well as her current role on ITV's Dancing On Ice . Danny Jones - The McFly star was drafted into the programme last minute as a replacement for Tommy Fury. Danny is the second member of McFly to enter the jungle , after Dougie Poynter won the show in 2011. He is also considered a rising star on ITV as he's now one of the mentors on their Saturday night talent show, The Voice , along with bandmate Tom Fletcher. Jane Moore - The Loose Women star and The Sun columnist is braving the creepy crawlies this year. The star is ready for a new challenge - having recently split from her husband . It will be Jane's first foray into reality TV with the telly favourite having always said no to reality shows in the past. Barry McGuigan - Former pro boxer Barry is the latest fighting champ to head Down Under following in the footsteps of Tony Bellew and Amir Khan. It comes after a tough few years for Irish star Barry, who lost his daughter Danika to bowel cancer . He told The Late Late Show in 2021: "She was such an intrinsic part of the family that every day we ache." Maura Higgins - The Irish TV beauty first found fame on Love Island where she found a brief connection with dancer Curtis Pritchard . Since then, she has competed on Dancing On Ice as well as hosting the Irish version of the beauty contest, Glow Up. Since last year, she has been working on building up her career in the US by being the social media correspondent and host of Aftersun to accompany Love Island USA. She even guest hosted an episode of the spin-off, Love Island Games, in place of Maya Jama last year. Rev. Richard Coles - Former BBC radio host the Rev Richard Coles is a late arrival on I’m A Celebrity , and he's ready to spill the beans on his former employer. The former Communards and Strictly star , said the BBC did not know its a**e from its elbow last year. An insider said: "Rev Coles will have a variety of tales to tell from his wild days as a pop star in the Eighties, through to performing on Strictly and his later life as a man of the cloth." One wrote on X: “im not angry” “im just disappointed” ant is so fed up with dean." Another added: "dying at how obvious it is that ant cannot stand dean." While a third commented: "Ant & Dec absolutely despise Dean don’t they #ImACeleb." I'm A Celebrity continues on ITV1 and ITVX.
ISLAMABAD (AP) — Pakistani police arrested thousands of Imran Khan supporters ahead of a rally in the capital to demand the ex-premier’s release from prison, a security officer said Sunday. Khan has been behind bars for more than a year and has over 150 criminal cases against him. But he remains popular and his political party, Pakistan Tehreek-e-Insaf or PTI, says the cases are politically motivated. Shahid Nawaz, a security officer in eastern Punjab province, said police have arrested more than 4,000 Khan supporters. They include five parliamentarians. Pakistan has sealed off Islamabad with shipping containers and shut down major roads and highways connecting the city with PTI strongholds in Punjab and northwestern Khyber Pakhtunkhwa provinces. Tit-for-tat teargas shelling between the police and the PTI was reported on the highway bordering Punjab and Khyber Pakhtunkhwa. Earlier on Sunday, Pakistan suspended mobile and internet services “in areas with security concerns.” The government and Interior Ministry posted the announcement on the social media platform X, which is banned in Pakistan. They did not specify the areas, nor did they say how long the suspension would be in place. “Internet and mobile services will continue to operate as usual in the rest of the country,” the posts said. Meanwhile, telecom company Nayatel sent out emails offering customers “a reliable landline service” as a workaround in the areas suffering suspended cellphone service. Khan's supporters rely heavily on social media to demand his release and use messaging platforms like WhatsApp to share information, including details of events. PTI spokesperson Sheikh Waqas Akram said Khan's wife Bushra Bibi was traveling to Islamabad in a convoy led by the chief minister of Khyber Pakhtunkhwa, Ali Amin Gandapur. “She cannot leave the party workers on their own,” said Akram. There was a festive mood in Peshawar, with PTI members dancing, drumming and holding up pictures of Khan as cars set off for Islamabad. The government is imposing social media platform bans and targeting VPN services , according to internet advocacy group Netblocks. On Sunday, the group said live metrics showed problems with WhatsApp that were affecting media sharing on the app. The U.S. Embassy issued a security alert for Americans in the capital, encouraging them to avoid large gatherings and warning that even “peaceful gatherings can turn violent.” Last month, authorities suspended the cellphone service in Islamabad and Rawalpindi to thwart a pro-Khan rally. The shutdown disrupted communications and affected everyday services such as banking, ride-hailing and food delivery. The latest crackdown comes on the eve of a visit by Belarusian President Alexander Lukashenko . Interior Minister Mohsin Naqvi said authorities have sealed off Islamabad's Red Zone, which houses key government buildings and is the destination for Khan's supporters. “Anyone reaching it will be arrested,” Naqvi told a press conference. He said the security measures were in place to protect residents and property, blaming the PTI for inconveniencing people and businesses. He added that protesters were planning to take the same route as the Belarusian delegation, but that the government had headed off this scenario. Naqvi denied cellphone services were suspended and said only mobile data was affected. Associated Press writers Riaz Khan in Peshawar and Asim Tanveer in Multan contributed to this report.Miguel Tomley scores 28 to lead Weber State over Pepperdine 68-53 at Arizona Tip-Off
PM Images Performance Review US equities collectively advanced during the third quarter of 2024. The S&P 500 ( SPY ) and Dow Jones Industrial Average ( DJI ) both reached new highs multiple times in September, while the NASDAQ Composite Index struggled to return to its record high posted in early July. After bouncing back from a rocky market environment in July, when many investors rotated away from large-capitalization technology-related stocks, US equities declined again in early August as investors worried about a potential recession with the releases of weaker-than-expected July employment and manufacturing reports. However, generally solid economic data and corporate earnings reports, along with continued cooling in the annual inflation rate, eased investor concerns. In September, a rate cut from the US Federal Reserve (Fed) further bolstered US stocks. Against this backdrop, 10 out of the 11 S&P 500 sectors traded higher, with energy the only decliner. Small- and mid-cap stocks outperformed large-cap equities. As it implemented its first rate cut in more than four years and reduced the federal funds target rate by 50 basis points (bps), the Fed noted in a statement that it believes inflation is proceeding sustainably toward its 2% target. The Fed’s preferred inflation gauge, the core personal consumption expenditures price index, ticked higher in August after reaching the lowest rate in more than three years in June and July, while staying above the Fed’s target. The US labor market continued to soften but remained resilient; the unemployment rate edged lower in August after rising in July to the highest level since October 2021, job gains weakened in July but improved somewhat in August, and the US Bureau of Labor Statistics’ preliminary annual revision substantially reduced the job gains for the 12 months through March 2024. US gross domestic product expanded in 2024’s second quarter at a significantly faster annualized rate than in the prior quarter, driven largely by growth in consumer spending, inventory investment, and business investment. Quarterly Key Performance Drivers Equity Holdings Equity Sectors Fixed Income Holdings Fixed Income Sectors/Industries HELPED Lockheed Martin ( LMT ) Utilities US Treasuries (USTs) USTs NextEra Energy ( NEE ) Health Care CommScope Holding ( COMM ) Health Care Home Depot ( HD ) Industrials Community Health Systems ( CYH ) Information Technology (IT) HURT Chevron ( CVX ) Energy — — Intel ( INTC ) — — — Merck & Co. ( MRK ) — — — Click to enlarge The 10-year UST note’s yield decreased 62 bps during the quarter, reaching 3.78% by period-end. The strategy’s fixed income allocation decreased to roughly 56% of the portfolio by quarter-end and contributed to absolute returns. During the period, fixed income returns were driven by USTs, along with the health care and IT sectors. Within these respective sectors, returns were led by Community Health Systems and CommScope Holding. No fixed income sectors or individual issuers detracted meaningfully from the strategy’s absolute returns for the quarter. The strategy’s equity allocation increased to 41% of the portfolio by the end of the quarter. Stocks contributed to absolute returns, driven by the utilities, health care and industrials sectors. NextEra Energy added value within utilities, while Lockheed Martin contributed within industrials. Home Depot also assisted returns within the consumer discretionary sector. In contrast, the energy sector detracted from the strategy’s absolute returns. On an individual issuer basis, Chevron hindered returns within energy, while Intel detracted within IT. Merck & Co. also weakened returns within the health care sector. Outlook & Strategy Economy: The economic growth outlook has been a major area of focus for the fund, as central banks around the world have pivoted toward easing monetary policy after two years of aggressive tightening to combat elevated inflation. The US economy remains resilient, largely driven by strong consumer spending on both goods and services, and while the labor market has incrementally cooled, unemployment levels are still low on a historical basis. With inflation viewed as anchored and following signs of some labor market softening, the Fed announced a 50-bp rate cut at its September 2024 meeting, which has been a positive catalyst for markets and has improved investor sentiment. We continue to monitor financial conditions as a leading indicator of future economic performance and Fed policy. Equities: Following two years of narrow market breadth, we have started to see a broadening out of market leadership over the last quarter. While index level valuations are still elevated, opportunities are starting to present themselves below the index levels, which we feel favors active management. We have found select opportunities within the consumer discretionary, industrials and materials sectors. We remain selective in engaging with equities, given current valuations in some sectors, as markets digest the effects of monetary policy, the shape of the yield curve and geopolitical risks. As income-focused investors, our asset allocation mix is driven primarily by bottom-up security selection, with a focus on company fundamentals as opposed to the direction of the broader equity market. While the capital return story differs by sector, our holdings are focused on businesses that show an ability to support attractive dividend yields and grow them over time. Treasuries/Government-Backed Bonds: With the Fed starting an interest-rate cutting cycle, the front end of the yield curve has declined. The intermediate part of the yield curve has seen less volatility as the outlook for deficit spending, as well as longer-term economic growth and inflation expectations, has had an impact on the belly of the yield curve. Government securities continue to provide an attractive investment opportunity, in our view, as yields remain elevated based on recent history. We believe they continue to offer good diversification potential and can serve as a ballast to help hedge portfolios during market volatility. Investment-Grade Corporate Bonds: We retain a balanced view of the corporate investment-grade sector as the attractiveness of higher-quality assets has increased over the past 18 months. While absolute yield levels are still attractive for an income-generating strategy, credit spreads have contracted materially over the past year, which has marginally decreased the attractiveness of investment-grade corporate bonds, in our assessment. High-Yield Corporate Bonds: While the high-yield market offers attractive yields, we remain balanced and selective due to the potential for higher refinancing costs impacting companies’ fundamentals. The potential for growth deceleration necessitates a vigilant approach to security selection within our high-yield portfolio, so our preference continues to be companies that have a greater degree of flexibility to deal with upcoming maturities. Product Details 1 Inception Date 06/30/2019 Benchmark Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index S&P 500 Index Click to enlarge Performance Data 2,3 Average Annual Total Returns (USD %) 3 Mths YTD 1 Year 3 Years 5 Years Since Inception (06/30/2019) Franklin Income SMA - Pure GROSS 6.71 9.81 18.08 6.73 9.08 9.10 Franklin Income SMA - NET 5.94 7.42 14.68 3.63 5.91 5.94 Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index 7.39 11.22 19.84 5.22 5.95 6.18 S&P 500 Index 5.89 22.08 36.35 11.91 15.97 15.52 Click to enlarge Calendar Year Returns (USD %) 2023 2022 2021 2020 Franklin Income SMA - Pure GROSS 8.73 -4.33 18.62 9.01 Franklin Income SMA - NET 5.58 -7.14 15.21 5.85 Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index 8.28 -8.00 11.44 4.62 S&P 500 Index 26.29 -18.11 28.71 18.40 The strategy returns shown are preliminary composite returns, subject to future revision (downward or upward). Please visit Mutual Funds | ETFs | Insights for the latest performance figures. Past performance is not a guarantee of future results. An investment in this strategy can lose value. Periods less than one year are not annualized. Performance results are for the Franklin Income SMA which includes all actual, fully discretionary accounts with substantially similar investment policies and objectives managed to the composite’s investment strategy. Composite returns are stated in U.S. dollars and assume reinvestment of any dividends, interest income, capital gains, or other earnings. The composite may include account(s) that are gross of fees and pure gross of fees. “Pure” gross-of-fee returns do not reflect the deduction of any expenses, including transaction costs. A traditional (or “true”) gross-of-fee return reflects performance after the reduction of transaction costs but before the reduction of the investment advisory fee. The gross-of-fee return may include a blend of “true” gross-of-fee returns for non-wrap accounts and “pure” gross-of-fee returns for wrap accounts. Net-of-fee returns is reduced by a model “wrap fee” which includes trading expenses as well as investment management, administrative and custodial fees. The model wrap fee used represents the highest anticipated wrap fee applicable to the strategy. Actual fees and account minimums may vary. Click to enlarge Footnotes : 1. A composite is an aggregation of one or more portfolios into a single group that represents a particular investment objective or strategy. The composite return is the asset-weighted average of the performance results of all the fully discretionary portfolios in the composite. The composite return information provided herein includes the returns of Franklin Separately Managed Accounts, high-net- worth individual and institutional client portfolios and with respect to any periods prior to the inception of Franklin Separately Managed Accounts, reflects the performance of any such other portfolios. 2. Blended 50% MSCI USA High Dividend Yield Index + 25% Bloomberg High Yield Very Liquid Index +25% Bloomberg US Aggregate Index is equivalent to Custom Franklin Income Strategy Benchmark. 3. Source for Index: FactSet. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. Important Information The information contained in this piece is not a complete analysis of every material fact regarding the market and any industry, sector, security or portfolio. Statements of fact cited by the manager have been obtained from sources considered reliable but no representation is made as to their completeness or accuracy. Because market and economic conditions are subject to rapid change, opinions provided are valid only as of the date of the material, and are subject to change without notice. The manager’s opinions are intended solely to provide insight into how the manager analyzes securities, may differ from that of other affiliated managers, and are not a recommendation or individual investment advice for any particular security, strategy or investment product. Any securities discussed may not represent an account’s entire portfolio and in the aggregate may represent a small percentage of an account’s portfolio holdings. There is no assurance that any such securities will remain in an account’s portfolio, or that securities sold have not been repurchased. It should not be assumed that any securities transactions discussed were or will prove to be profitable. The information provided should not be considered a recommendation to purchase, sell or hold any particular security. All indexes are unmanaged and cannot accommodate direct investment. Investors should review their investment objectives, risk tolerance and liquidity needs before choosing a manager. There is no guarantee that investment strategies will work under all market conditions, and investors should evaluate their ability to invest for the long term, especially during periods of market downturns. Past performance is not an indicator or guarantee of future performance. Franklin Separately Managed Accounts claims compliance with the Global Investment Performance Standards (GIPS®). GIPS® is a registered trademark of CFA Institute. CFA Institute does not endorse or promote this organisation, nor does it warrant the accuracy or quality of the content contained herein. Franklin (the “Firm”) is a global investment management group that manages equity, fixed income, balanced accounts, REIT funds, private funds, multi- asset strategies, fund-of-fund portfolios, risk premia strategies, ETFs, GCC fixed income and Sukuk strategies for institutional, retail, and sub-advised clients. For multi-asset strategies and fund-of-fund portfolios, the Firm may invest in various investment strategies advised by registered investment advisory entities within Franklin Resources, Inc. or unaffiliated investment managers. The Firm includes Franklin Templeton Investment Solutions which integrates Franklin Templeton Multi-Asset Solutions and QS Investors, Franklin Mutual Advisers, Franklin ETF and Franklin Venture Partners in addition to Franklin Equity Group, Franklin Templeton Fixed Income Group, and Templeton Global Macro. The Firm is comprised of individuals representing various registered investment advisories of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton. Separately Managed Accounts (SMAS) are investment services provided by Franklin Templeton Private Portfolio Group, LLC (FTPPG), a federally registered investment advisor. Client portfolios are managed based on investment instructions or advice provided by affiliated subadvisors of Franklin Templeton. Management is implemented by FTPPG, the designated subadvisor or, in the case of certain programs, the program sponsor or its designee. Franklin Income SMA Composite consists of all fully discretionary portfolios with an investment objective that seeks to maximize income while maintaining prospects for capital appreciation. The composite may include wrap fee accounts that pay a fully bundled fee (which includes trading expenses, administrative, custodial and investment management fees charged together as a percentage of the portfolio’s assets) and non-wrap accounts that only pay an investment management fee to Franklin. The portfolio will invest in equity and fixed income securities and Completion Portfolios (no-fee mutual funds) sub-advised by Franklin Advisers, Inc. The Equity Completion Portfolio may include common and preferred stock, equity linked notes, non- USD equities, equity derivatives. Through the Equity Completion Portfolio, the funds may purchase or write option contracts in order to manage equity price risk and may also invest in equity-linked securities. Equity-linked securities are hybrid financial instruments that generally combine both debt and equity characteristics into a single note form. The Fixed Income Completion Portfolio may include high yield bonds, bank loans, mortgage and asset backed securities, non-USD bonds, fixed income derivatives. Through the Fixed Income Completion Portfolio, the fund may invest in high yield corporate bonds that are below investment grade (rated lower than BBB). The Custom Franklin Income Strategy Benchmark is equivalent to the Blended 50% MSCI USD High Dividend Yield Index + 25% Bloomberg US High Yield Very Liquid Index + 25% Bloomberg US Aggregate Index. The primary benchmark for the composite is a custom benchmark of 50% MSCI USA High Dividend Yield Index (USA High Div Yield) + 25% Bloomberg U.S. High Yield Very Liquid Index (High Yield Very Liquid) + 25% Bloomberg U.S. Aggregate Index (US Agg Index). The MSCI USA High Dividend Yield Index is designed to reflect the performance of mid- and large-cap equities (excluding REITs) with higher dividend income, which is sustainable and persistent, than average dividend yields of securities in the MSCI USA Index, its parent index. The Bloomberg U.S. High Yield Very Liquid Index is a component of the U.S. Corporate High Yield Index designed to track a more liquid component of the USD-denominated, high yield, fixed-rate corporate bond market. The Bloomberg U.S. Aggregate Index is a market value weighted fixed income index comprised of investment grade government, corporate, mortgage pass-through and asset-backed securities that are SEC registered, taxable, dollar denominated and fixed rate. The benchmark is rebalanced monthly. The secondary benchmark for the composite is the S&P 500 Index, which is a float-adjusted market capitalization weighted equity index comprised of securities of large cap U.S. companies. All investments involve risks, including possible loss of principal. The allocation of assets among different strategies, asset classes and investments may not prove beneficial or produce the desired results. Fixed income securities involve interest rate, credit, inflation and reinvestment risks, and possible loss of principal. As interest rates rise, the value of fixed income securities falls. Dividends may fluctuate and are not guaranteed, and a company may reduce or eliminate its dividend at any time. Equity securities are subject to price fluctuation and possible loss of principal. Investments in equity-linked notes often have risks similar to their underlying securities, which could include management risk, market risk and, as applicable, foreign securities and currency risks. Low-rated, high-yield bonds are subject to greater price volatility, illiquidity and possibility of default. Active management does not ensure gains or protect against market declines. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets . The investment style may become out of favor, which may have a negative impact on performance. The manager may consider environmental, social and governance (ESG) criteria in the research or investment process; however, ESG considerations may not be a determinative factor in security selection. In addition, the manager may not assess every investment for ESG criteria, and not every ESG factor may be identified or evaluated. For fee schedules, contact your financial professional, or if you enter into an agreement directly with Franklin Templeton Private Portfolio Group, LLC (“FTPPG”), refer to FTPPG’s Form ADV Part 2A disclosure document. Management and performance of individual accounts may vary for reasons that include the existence of different implementation practices and model requirements in different investment programs. To obtain specific information on available products and services or a GIPS Report, contact your Franklin Templeton separately managed account sales team at (800) DIAL BEN/342-5236. Source: FactSet. MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI. Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges. CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute. Source: FactSet. Important data provider notices and terms available at www.franklintempletondatasources.com. These materials are being provided for illustrative and informational purposes only. The information contained herein is obtained from multiple sources that are believed to be reliable. However, such information has not been verified, and may be different from the information included in documents and materials created by the sponsor firm in whose investment program a client participates. Some sponsor firms may require that these materials be preceded or accompanied by investment profiles or other documents or materials prepared by such sponsor firms, which will be provided upon a client’s request. For additional information, documents and/or materials, please speak to your Financial Professional or contact your sponsor firm. Franklin Templeton (FT) is not undertaking to provide impartial advice. Nothing herein is intended to provide fiduciary advice. FT has a financial interest. Click to enlarge Original Post Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.