Franklin Templeton and Nedcor Investment Bank Asset Management have agreed in principle to merge the...
Franklin Templeton and Nedcor Investment Bank Asset Management have agreed in principle to merge their South African investment business. The proposed joint venture, which is likely to take the form of a new company, will manage the combined assets of the two companies and should provide a boost to Templeton's modest presence on the Continent. The company has had an investment presence in South Africa since 1995, but an asset management arm only since 1998. Both NIB Asset Management and Templeton cover broadly the same market - selling unit trusts to institutional investors and private cl...
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