Gregory Eugene Johnson - Chairman, President & Chief Executive Officer Kenneth A. Lewis - Chief Financial Officer & Executive Vice President

Welcome to Franklin Resources' Earnings Commentary for the Quarter Ended June 30, 2015. Statements made in this commentary regarding Franklin Resources, Inc, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from any future results expressed or implied by such forward-looking statements. These and other risks, uncertainties and other important factors are described in more detail in Franklin's recent filings with the Securities and Exchange Commission, including in the Risk Factors and MD&A sections of Franklin's most recent Form 10-K and 10-Q filings. This commentary was pre-recorded. Gregory Eugene Johnson - Chairman, President & Chief Executive Officer: Hello and thank you for joining today to discuss the third quarter results. I am Greg Johnson, CEO, along with Ken Lewis, our CFO. The current market environment with heightened concerns over volatility, currency exposure, fluctuating energy prices, and rising rates presents a number of challenges to investors. First, I'd like to share a few highlights for the quarter. Delivering strong investment performance for our clients remains our top priority and we're pleased to see that relative investment performance of our U.S. retail and cross-border fixed-income products remain strong with the percentage of assets in the top two quartiles increasing since March overall standard periods. The outperformance of our global fixed-income funds helped to ease redemption pressure on those funds resulting in lower outflows. The U.S. and cross-border Franklin K2 Alternative Strategies funds, which together attracted over $600 million in net flows for the quarter have been our fastest growing new fund launch in the history of the company. The cross-border fund is now available in 23 countries…