Floating Rate Debt Group Undergrad Intern

At Franklin Templeton, we’re advancing our industry forward by developing new and innovative ways to help our clients achieve their investment goals. Our dynamic firm spans asset management, wealth management and fintech, offering many ways to help investors make progress toward their goals. Talented teams working around the globe bring expertise that’s both broad and unique. And our welcoming, respectful and inclusive culture provides opportunities to help you reach your potential while helping our clients reach theirs. Come join us in delivering better outcomes for our clients around the world! 2026 Undergraduate Summer Intern – Job Posting Department Title: Undergrad Intern – Floating Rate Debt Group Please read before applying: Start Date: All interns must start in office and in person on June 8, 2026. Anticipated End Date: July 31, 2026 – All interns must be in office and in person on their last day to return equipment. Interns must be located in the same location throughout the duration of their internship and are prohibited from returning laptop/equipment to a different office location or shipping their equipment back. Position Summary:  Managing portfolios that invest in floating rate debt across CLOs, separately managed accounts, and retail mutual funds. The Floating Rate Debt Group sits at the intersection of credit markets, alternatives, and active research. We are growing assets under management across CLOs, separately managed accounts, and retail mutual funds, with CLOs in particular representing an alternatives asset class that has been a strategic growth priority for the firm. That means this team isn’t just maintaining existing strategies—we’re expanding into areas that matter for the company’s long-term direction. What makes the work especially compelling is the nature of the asset class. We invest in debt issued by public and private companies with below investment grade credit ratings. These investments come with higher risk, but also the potential for higher returns. Because of that, the work is intellectually rigorous and dynamic. Prices in the debt markets can be volatile, driven by macroeconomic forces and company-specific developments. That volatility isn’t something we shy away from—it creates opportunity. An intern would see firsthand how experienced investors analyze uncertainty, assess risk, and identify value in real time. Another exciting aspect is the importance of primary research. Many of the companies we analyze are private or less widely followed, and the market can be less efficient than more liquid public markets. That creates a real edge for thoughtful, diligent analysis. An intern would have the opportunity to dig into company fundamentals, evaluate management teams, assess capital structures, and understand how macro trends translate into credit performance. The work goes beyond surface-level market commentary—it’s about building conviction based on deep research. In terms of impact, this role offers meaningful exposure to investment decision-making that directly influences portfolio performance and asset growth. Strong research can translate into better investment outcomes for clients and support the firm’s expansion in alternatives. An intern wouldn’t just be observing; they would contribute to research, analysis, and discussions that help shape investment views. It’s a chance to develop technical credit skills, understand how portfolios are constructed, and see how a high-performing team operates within a global asset manager. For someone curious about credit markets, interested in alternatives, and motivated by analytical problem-solving, this role offers both steep learning and the opportunity to contribute to a strategically important and growing part of Franklin Templeton. Team Culture: The culture of the Floating Rate Debt Group is one of openness, intellectual curiosity, and true collaboration. What makes the team unique is how discussion-driven and debate-oriented it is. We meet daily, and those meetings are not passive updates—they are active forums for sharing perspectives, challenging assumptions, and refining investment views. The team operates with a relatively flat structure and limited hierarchy, which creates an environment where everyone is expected to contribute. Whether someone is a senior portfolio manager or a newer member of the team, thoughtful input is valued. That dynamic fosters both accountability and professional growth, because individuals are empowered to develop and defend their views while learning from experienced colleagues. Collaboration extends well beyond formal meetings. The team is in constant communication through Teams and Bloomberg chats, both as a full group and in smaller, focused sub-groups. Given that we operate across different geographies, this ongoing dialogue helps bridge time zones and ensures alignment across portfolios and strategies. It also creates a sense of connectivity and shared purpose, even when team members are physically dispersed. Importantly, the collaborative spirit is not limited to the Floating Rate Debt Group. We regularly engage with other investment teams across Franklin Templeton, sharing insights and perspectives. That cross-platform interaction strengthens our investment process and reflects the broader culture of the firm. It is a collegial team within a collegial organization—high standards, rigorous analysis, and strong performance expectations, balanced with mutual respect and a genuine willingness to support one another’s success. An intern in this department can expect to learn: Fundamental credit analysis Financial modeling Valuation analysis Key Responsibilities Can Include: Spreading financials Company and industry research Preparing earnings and new issue write-ups Ideal Qualifications: Basic Excel skills Good written and oral communication skills Ready to make moves? Apply today! Please be sure to attach your resume when submitting your application. Applications submitted without a resume will not be considered. Due to the high volume of applications we receive, we may not be able to respond to each applicant individually. If you're interested in more than one internship, we encourage you to apply to all positions that align with your interests. This is a full-time internship where students will work approximately 37.5 (dependent on state/location) hours per week and earn competitive hourly pay of $37 (dependent on location and function) USD per hour. There are several factors taken into consideration in making compensation decisions including but not limited to location, job-related knowledge, skills, and experience. At Franklin Templeton, we apply a total reward philosophy where all aspects of compensation and benefits are taken into consideration in determining compensation.  At Franklin Templeton, we’re advancing our industry forward by developing new and innovative ways to help our clients achieve their investment goals. Our dynamic firm spans asset management, wealth management, and fintech, offering many ways to help investors make progress toward their goals. Our talented teams working around the globe bring expertise that’s both broad and unique. From our welcoming, inclusive, and flexible culture to our global and diverse business, we provide opportunities to help you reach your potential while helping our clients reach theirs. Experience our welcoming culture and reach your professional and personal potential! Our culture is shaped by the variety of perspectives and experiences brought by talent from around the world. Regardless of your interests, lifestyle, or background, there’s a place for you at Franklin Templeton. We provide employees with the tools, resources, and learning opportunities to help them excel in their career and personal life. Franklin Templeton is an Equal Opportunity Employer. We are committed to providing equal employment opportunities to all applicants and employees, and we evaluate qualified applicants without regard to ancestry, age, color, disability, genetic information, gender, gender identity, or gender expression, marital status, medical condition, military or veteran status, national origin, race, religion, sex, sexual orientation, and any other basis protected by federal, state, or local law, ordinance, or regulation.  If you believe that you need an accommodation or adjustment to search for or apply for one of our positions, please send an email to accommodations@franklintempleton.com. In your email, please include the accommodation or adjustment you are requesting, the job title, and the job number you are applying for. It may take up to three business days to receive a response to your request. Please note that only accommodation requests will receive a response.