SCHEDULE 13G: Morgan Stanley and Parametric Portfolio Associates Disclose 6.3% Stake in Franklin Ltd Duration Income Trust

Morgan Stanley and its subsidiary, Parametric Portfolio Associates LLC, have jointly disclosed a beneficial ownership of 6.3% in Franklin Ltd Duration Income Trust, totaling 2,553,018 common shares.

Summary

• Morgan Stanley and its wholly-owned subsidiary, Parametric Portfolio Associates LLC, have filed a Schedule 13G, reporting their beneficial ownership in Franklin Ltd Duration Income Trust.
• As of March 31, 2025, the aggregate amount beneficially owned by the reporting persons is 2,553,018 Common Shares of Beneficial Interest.
• This ownership represents 6.3% of the class of securities.
• The reporting persons hold shared voting power over 303,970 shares and shared dispositive power over 2,553,018 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, carrying a neutral sentiment. It does not contain positive or negative performance indicators or forward-looking statements that would influence sentiment.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

This filing indicates a significant passive investment by a major financial institution (Morgan Stanley) and its investment advisory subsidiary (Parametric Portfolio Associates LLC) in a specific income trust. Such disclosures are routine for institutional investors crossing beneficial ownership thresholds and reflect portfolio allocation decisions rather than strategic industry shifts.

Related Party Transactions

• Parametric Portfolio Associates LLC, a wholly-owned subsidiary of Morgan Stanley, owns or is deemed to beneficially own the securities reported by Morgan Stanley as a parent holding company.

Stakeholder Impact

• Shareholders of Franklin Ltd Duration Income Trust may note the significant stake held by a major institutional investor, which could be perceived as a vote of confidence or an indicator of institutional interest in the trust's securities.

Key Dates

Keywords

Franklin Ltd Duration Income Trust, Morgan Stanley, Parametric Portfolio Associates, Schedule 13G, Beneficial Ownership, Common Shares, Investment Adviser, Holding Company, SEC Filing