Lead manager quits Franklin biotech

Evan McCulloch has been appointed as lead manager of the Franklin Biotechnology Fund, replacing Kurt von Emster, who left on 17 November to run a hedge fund in North California, writes Ruth Alexander. The investment style of the fund will remain the same, despite the change of management. The fund was launched in July 2000. McCulloch will be assisted by Paul Walker and Jake Nunn. He will also manage the Franklin Biotechnology Discovery Fund, which is a sub-fund of Franklin Templeton Investment Funds, a Luxembourg registered Sicav. This is a $1.6bn fund. It had a return of 97.9% in 1999,...