Document

EXHIBIT 21

FRANKLIN RESOURCES, INC.

LIST OF SUBSIDIARIES*

(as of September 30, 2021)


Name**						State or Jurisdiction of Incorporation or Organization
AdvisorEngine Inc.						Delaware
Alumcreek Holdings LLC						Delaware
Balanced Equity Management Pty. Limited						Australia
Brandywine Global Investment Management Europe Limited						United Kingdom
CCPF GP Holdco No.2 Limited						United Kingdom
CCPF No.2 (GP) Limited						United Kingdom
CCPF No.2 LP						United Kingdom
Clarion Gramercy Limited						Jersey (Channel Islands)
Clarion Gramercy (Deutschland) GmbH						Germany
Clarion Gramercy (UK) Limited						United Kingdom
Clarion Partners Europe, Ltd.						United Kingdom
Clarion Partners Holdings LLC						Delaware
Clarion Partners, LLC						New York
Clarion Partners Securities, LLC						Delaware
Clarion REIM South America Holdings, LLC						Delaware
Clarion REIM South America Invsetimentos Imobiliarios Ltda						Brazil
ClearBridge Investments Limited						Australia
ClearBridge Investments (North America) Pty Limited						Australia
ClearBridge RARE Infrastructure International Pty Limited						Australia
CP Industrial Management, LLC						Delaware
CP Intermediate Holdco, Inc.						Delaware
CRM Software, LLC						Delaware
Fiduciary International Holding, Inc.						New York
Fiduciary Investment Management International, Inc.						Delaware
Fiduciary Trust Company International						New York
Fiduciary Trust Company International of Pennsylvania						Pennsylvania
Fiduciary Trust Company of Canada						Canada
Fiduciary Trust International, LLC						Delaware
Fiduciary Trust International of California						California
Fiduciary Trust International of Delaware						Delaware
Fiduciary Trust International of the South						Florida
Franklin Advisers GP, LLC						Delaware
Franklin Advisers, Inc.						California
Franklin Advisory Services, LLC						Delaware
Franklin Distributors, LLC						Delaware
Franklin Holdings, LLC						Delaware
Franklin Marketplace Loan GP, LLC						Delaware
Franklin Mutual Advisers, LLC						Delaware
Franklin SystematiQ Advisers, LLC						Delaware
Franklin Templeton Alternative Investments (India) Private Limited						India


Name**						State or Jurisdiction of Incorporation or Organization
Franklin Templeton Asset Management (India) Private Limited						India
Franklin Templeton Asset Management (Malaysia) Sdn. Bhd.						Malaysia
Franklin Templeton Asset Management Mexico, S.A. de C.V., Sociedad Operadora de Fondos de Inversion						Mexico
Franklin Templeton Austria GmbH						Austria
Franklin Templeton Blockchain GP, LLC						Delaware
Franklin Templeton Capital Holdings Private Limited						Singapore
Franklin Templeton Chile SpA. V.						Chile
Franklin Templeton Companies, LLC						Delaware
Franklin Templeton Digital Advisory Services GmbH						Germany
Franklin Templeton Fund Management Limited						United Kingdom
Franklin Templeton Global Investors Limited						United Kingdom
Franklin Templeton GSC Asset Management Sdn. Bhd.						Malaysia
Franklin Templeton Holding Limited						Mauritius
Franklin Templeton International Services (India) Private Limited						India
Franklin Templeton International Services S.à r.l.						Luxembourg
Franklin Templeton Investímentos (Brasil) Ltda.						Brazil
Franklin Templeton Investment Advisors Korea Co., Ltd.						South Korea
Franklin Templeton Investment Management Limited						United Kingdom
Franklin Templeton Investment Management (Shanghai) Limited						China
Franklin Templeton Investment Services Mexico S. de R.L.						Mexico
Franklin Templeton Investments (Asia) Limited						Hong Kong
Franklin Templeton Investments Australia Limited						Australia
Franklin Templeton Investments Corp.						Canada
Franklin Templeton Investments (ME) Limited						Dubai, U.A.E.
Franklin Templeton Investments Poland sp. z o.o.						Poland
Franklin Templeton Investments South Africa (Pty) Ltd						South Africa
Franklin Templeton Investor Services, LLC						Delaware
Franklin Templeton Luxembourg S.A.						Luxembourg
Franklin Templeton Magyarorszag Kft.						Hungary
Franklin Templeton Management Luxembourg S.A.						Luxembourg
Franklin Templeton Overseas Investment Fund Management (Shanghai) Co., Limited						China
Franklin Templeton Private Equity, LLC						Delaware
Franklin Templeton Services, LLC						Delaware
Franklin Templeton Services (India) Private Limited						India
Franklin Templeton Servicios de Asesoria Mexico, S. de R.L. de C.V.						Mexico
Franklin Templeton Slovakia, s.r.o.						Slovakia
Franklin Templeton Social Infrastructure GP, S.à r.l.						Luxembourg
Franklin Templeton Strategic Investments Ltd.						Cayman Islands
Franklin Templeton Switzerland Ltd.						Switzerland
Franklin Templeton Trustee Services Private Limited						India
Franklin Templeton Turkey Advisory Services A.S.						Turkey
Franklin Templeton UK Property Limited						United Kingdom
Franklin Templeton Uruguay S.A.						Uruguay
Franklin Venture Partners, LLC						Delaware


Name**						State or Jurisdiction of Incorporation or Organization
Franklin Venture Partners (Talos Cayman GP), LLC						Delaware
FT FinTech Holdings, LLC						Delaware
FTC Investor Services Inc.						Canada
FTCI (Cayman) Ltd.						Cayman Islands
FTPE Advisers, LLC						Delaware
Legg Mason Asset Management Australia Limited						Australia
Legg Mason Asset Management Hong Kong Limited						Hong Kong
Legg Mason Asset Management Singapore Pte. Limited						Singapore
Legg Mason Australia Holdings Pty Limited						Australia
Legg Mason (Chile) Inversiones Holdings Limitada						Chile
Legg Mason & Co (UK) Limited						United Kingdom
Legg Mason & Co., LLC						Maryland
Legg Mason Holding (Switzerland) GmbH						Switzerland
Legg Mason, Inc.						Maryland
Legg Mason Investments (Europe) Limited						United Kingdom
Legg Mason Investment Funds Limited						United Kingdom
Legg Mason Investments (Switzerland) GmbH						Switzerland
Legg Mason Overseas Investment Fund Management (Shanghai) Co., Ltd.						China
Legg Mason Partners Fund Advisor, LLC						Delaware
Legg Mason Royce Holdings, LLC						Delaware
LM (BVI) Limited						British Virgin Islands
LM Holdings Limited						United Kingdom
LM Holdings 2 Limited						United Kingdom
LM International Holding LP						Cayman Islands
Onsa Inc.						Delaware
Random Forest Capital, LLC						California
RARE IP Trust						Australia
REDROSE Caesar S.à r.l.						Luxembourg
Riva Financial Systems Limited						Isle of Man
Royce & Associates GP, LLC						Delaware
Royce & Associates, LP						Delaware
Royce Fund Services, LLC						New York
Royce Management Company, LLC						Delaware
Templeton Asset Management Ltd.						Singapore
Templeton Asset Management (Poland) TFI S.A.						Poland
Templeton do Brasil Ltda.						Brazil
Templeton Global Advisors Limited						The Bahamas
Templeton Global Holdings Ltd.						The Bahamas
Templeton Hana Asset Management Co., Ltd.						South Korea
Templeton International, Inc.						Delaware
Templeton Investment Counsel, LLC						Delaware
Templeton Restructured Investments, L.L.C.						Delaware
Templeton Restructured Investments III, Ltd.						Cayman Islands
Templeton Restructured Investments IV, Ltd.						Cayman Islands
Templeton Turkey Fund GP Ltd.						Cayman Islands


Name**						State or Jurisdiction of Incorporation or Organization
Templeton Worldwide, Inc.						Delaware
Templeton/Franklin Investment Services, Inc.						Delaware
TSEMF III (Jersey) Limited						Jersey (Channel Islands)
TSEMF IV (Jersey) Limited						Jersey (Channel Islands)
Western Asset Holdings (Australia) Pty Ltd						Australia
Western Asset Management (Brazil) Holdings Limitada						Brazil
Western Asset Management (Cayman) Holdings Limited						Cayman Islands
Western Asset Management Company Distribuidora de Titulos e Valores Mobiliarios Limitada						Brazil
Western Asset Management Company Limited						United Kingdom
Western Asset Management Company, LLC						California
Western Asset Management Company Pte Ltd.						Singapore
Western Asset Management Company Pty Ltd						Australia
WHITEROSE Caesar S.à r.l.						Luxembourg

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* Certain subsidiaries have been omitted because, when considered in the aggregate, they do not constitute a significant subsidiary.

** Our subsidiaries currently do business principally under their respective corporate names except as follows:

•some of our subsidiaries may use the names Franklin Templeton, Franklin Templeton International and Templeton Worldwide;

•Fiduciary Trust Company of Canada may use the names Fiduciary Trust Canada and Franklin Templeton Multi-Asset Solutions in various Canadian jurisdictions;

•Franklin Templeton Investments Corp. may use the names Franklin Templeton Canada, Franklin Templeton Investments Canada, Franklin Bissett Investment Management, Franklin Templeton Investments and Franklin Templeton Institutional in various Canadian jurisdictions;

•Legg Mason, Inc. may use the name Legg Mason Global Asset Management; and

•Royce & Associates, LP may use the name Royce Investment Partners.