EXHIBIT 21
FRANKLIN RESOURCES, INC.
LIST OF SUBSIDIARIES
STATE OR NATION OF
NAME INCORPORATION
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Asia Infrastructure Mezzanine Capital Management Co., Ltd. Cayman Islands
Darby Asia Investors, Ltd. British Virgin Islands
Darby Asia Investors (HK), Ltd. Hong Kong
Darby Emerging Markets Income Investments, LLC Delaware
Darby Emerging Markets Income Investments, Ltd. Cayman Islands
Darby Emerging Markets Investments, LDC Cayman Islands
Darby Holdings, Inc. Delaware
Darby Global SICAV Managers, LLC Delaware
Darby Latin American Mezzanine Investments Cayman Islands
Darby Overseas Investments, Ltd. Delaware
Darby Overseas Partners, L.P. Delaware
DBVA de Mexico, S. de R. L. de C. V. Mexico
DBVA Mexico Holdings I, LLC Delaware
DBVA Mexico Holdings II, LLC Delaware
FCC Receivables Corporation Delaware
Fiduciary Financial Services Corp. New York
Fiduciary International, Inc. New York
Fiduciary International Holding, Inc. New York
Fiduciary International Ireland Limited Ireland
Fiduciary Investment Corporation New York
Fiduciary Investment Management International, Inc. Delaware
Fiduciary Trust (International) S.A. Switzerland
Fiduciary Trust Company International New York
Fiduciary Trust International Australia Limited Australia
Fiduciary Trust International Limited England
Fiduciary Trust International of California California
Fiduciary Trust International of Delaware Delaware
Fiduciary Trust International of the South Florida
Franklin Advisers, Inc. California
Franklin Advisory Services, LLC Delaware
Franklin Agency, Inc. California
Franklin Capital Corporation Utah
Franklin Investment Advisory Services, Inc. Delaware
Franklin Mutual Advisers, LLC Delaware
Franklin Private Client Group, Inc. California
Franklin Receivables LLC Delaware
Franklin Templeton AMC Limited India
Franklin Templeton Alternative Strategies, Inc. Delaware
Franklin Templeton Asset Management S.A. France
Franklin Templeton Bank & Trust, F.S.B. United States
Franklin Templeton Companies, LLC Delaware
STATE OR NATION OF
NAME INCORPORATION
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Franklin Templeton France S.A. France
Franklin Templeton Global Investors Limited United Kingdom
Franklin Templeton Holding Limited Mauritius
Franklin Templeton Institutional, LLC Delaware
Franklin Templeton Institutional Asia Limited Hong Kong
Franklin Templeton International Services (India) Private Limited India
Franklin Templeton International Services S.A. Luxembourg
Franklin Templeton Investment Management Limited United Kingdom
Franklin Templeton Investment Services GmbH Germany
Franklin Templeton Investment Trust Management Co., Ltd. Korea
Franklin Templeton Investments (Asia) Limited Hong Kong
Franklin Templeton Investments Australia Limited Australia
Franklin Templeton Investments Corp. Canada
Franklin Templeton Investments Japan Limited Japan
Franklin Templeton Investor Services, LLC Delaware
Franklin Templeton Italia Societa di Gestione del Risparmio Per Azioni Italy
Franklin Templeton Management Luxembourg SA Luxembourg
Franklin Templeton Services Limited Ireland
Franklin Templeton Services, LLC Delaware
Franklin/Templeton Distributors, Inc. New York
Franklin/Templeton Travel, Inc. California
FS Capital Group California
FS Properties, Inc. California
FTCI (Cayman) Ltd. Cayman Islands
FTI-Banque Fiduciary Trust Switzerland
Happy Dragon Holdings Limited British Virgin Islands
ITI Capital Markets Limited India
Pioneer ITI Mutual Fund Private Limited India
Templeton (Switzerland) Ltd. Switzerland
Templeton Asian Direct Investments Limited Hong Kong
Templeton Asset Management (India) Private Limited India
Templeton Asset Management (Labuan) Limited Malaysia
Templeton Asset Management Ltd. Singapore
Templeton Capital Advisors Ltd. Bahamas
Templeton China Research Limited Hong Kong
Templeton do Brasil Ltda. Brazil
Templeton Franklin Global Distributors, Ltd. Bermuda
Templeton Funds Annuity Company Florida
Templeton Global Advisors Limited Bahamas
Templeton Global Holdings Ltd. Bahamas
Templeton Heritage Limited Canada
Templeton International, Inc. Delaware
Templeton Investment Counsel, LLC Delaware
Templeton Research Poland SP.z.o.o. Poland
STATE OR NATION OF
NAME INCORPORATION
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Templeton Restructured Investments, L.L.C. Delaware
Templeton Trust Services Private Limited India
Templeton Worldwide, Inc. Delaware
Templeton/Franklin Investment Services, Inc. Delaware
TRFI Investments Limited Cyprus
*All subsidiaries currently do business principally under their respective corporate name except
as follows: Templeton/Franklin Investment Services, Inc. operates as Templeton Private Client
Group; Franklin Private Client Group, Inc. conducts business as Private Client Group. Some
Templeton subsidiaries also occasionally use the name Templeton Worldwide.