Franklin Templeton merges two fund ranges
US global investment management firm Franklin Templeton has announced the consolidation of two of its funds umbrellas into one.
The firm merges all four sub-funds from its Luxembourg-domiciled Sicav Franklin Templeton strategic allocation funds (FTSAF) range into four receiving sub-funds, of which three are newly-created sub-funds, within its Luxembourg-domiciled Sicav Franklin Templeton investment funds (FTIF) range.
The FTSAF range does no longer exist says the company.
The merger, which results from updated regulations under Ucits IV, will enable shareholders to switch funds more easily within the same umbrella to have a wider selection of over 80 funds to choose from.
Some economic benefits are anticipated from reduced fund expenses by avoiding duplication of costs.
Jamie Hammond, managing director, Europe commented: “This merger will make it easier for our clients to access our full range of multi-asset strategies, which are increasingly popular with investors throughout the region.”
Franklin Templeton has $894bn (€818.6bn) in assets under management as of February 29, 2015.
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