EXHIBIT 21
FRANKLIN RESOURCES, INC.
LIST OF SUBSIDIARIES
STATE OR NATION OF
NAME INCORPORATION
- --------------------------------------------------------------------------------- -------------------
Asia Infrastructure Mezzanine Capital Management Co., Ltd. Cayman Islands
Darby Asia Investors (HK), Ltd. Hong Kong
Darby Asia Investors, Ltd. British Virgin Islands
Darby Emerging Markets Income Investments LLC Delaware
Darby Emerging Markets Income Investments, Ltd. Cayman Islands
Darby Emerging Markets Investments, LDC Cayman Islands
Darby Global SICAV Managers, LLC Delaware
Darby Holdings, Inc. Delaware
Darby Latin American Mezzanine Investments Cayman Islands
Darby Overseas Investments, Ltd. Delaware
Darby Overseas Partners, L.P. Delaware
Darby-BBVA Latin American Investors, Ltd. Cayman Islands
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 Corp. Delaware
Fiduciary Financial Services Corp. New York
Fiduciary International Holding, Inc. New York
Fiduciary International Ireland Limited Ireland
Fiduciary International, Inc. New York
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 Company of Canada Canada
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, LLC Delaware
Franklin Mutual Advisers, LLC Delaware
Franklin Receivables LLC Delaware
Franklin SPE LLC Delaware
Franklin Templeton Alternative Strategies, Inc. Delaware
Franklin Templeton AMC Limited India
Franklin Templeton Asset Management (India) Private Limited India
- --------------------------------------------------------------------------------
STATE OR NATION OF
NAME INCORPORATION
- --------------------------------------------------------------------------------- -------------------
Franklin Templeton Asset Management S.A. France
Franklin Templeton Bank & Trust, F.S.B. United States
Franklin Templeton Companies, LLC Delaware
Franklin Templeton Fiduciary Bank & Trust Ltd. Bahamas
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 Institutional Suisse S.A. Switzerland
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 Portfolio Advisors, Inc. California
Franklin Templeton Services Limited Ireland
Franklin Templeton Services, LLC Delaware
Franklin Templeton Switzerland Ltd. Switzerland
Franklin Templeton Trustee Services Private Limited India
Franklin/Templeton Distributors, Inc. New York
Franklin/Templeton Travel, Inc. California
FS Capital Group California
FS Properties, Inc. California
FTCI (Cayman) Ltd. Cayman Islands
Happy Dragon Holdings Limited British Virgin Islands
ITI Capital Markets Limited India
MassMutual/Darby CBO IM, Inc. Delaware
Pioneer ITI Mutual Fund Private Limited India
Templeton Asian Direct Investments Limited Hong Kong
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
2
- --------------------------------------------------------------------------------
STATE OR NATION OF
NAME INCORPORATION
- --------------------------------------------------------------------------------- -------------------
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
Templeton Restructured Investments, L.L.C. Delaware
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: Franklin Templeton Portfolio Advisors, Inc.
operates through its Franklin Portfolio Advisors and Templeton Portfolio
Advisors divisions. Some Templeton subsidiaries also occasionally use the name
Templeton Worldwide.
3
- --------------------------------------------------------------------------------