Franklin Templeton has launched five funds in its Luxembourg Sicav - three emerging markets products...
Franklin Templeton has launched five funds in its Luxembourg Sicav - three emerging markets products, a global fund and a property portfolio.
The Franklin India fund is to invest in equity securities across the entire market capitalisation range in India and employs a bottom-up approach to stock selection, which may include out-of favour stocks.
Stephen Dover, chief investment officer and Sukumar Rajah, a fund manager, will manager the fund.
Jack Foster will manage the Global Real Estate fund, which will invest in a globally diversified portfolio of Reits and other public property securities. He will be supported by six fund managers/analysts.
The Franklin Mutual Global Discovery fund is to invest in undervalued stocks, arbitrage opportunities and distressed securities of companies with no market capitalisation or geographic restrictions.
This fund follows the same investment objective as the £4.8bn US domiciled Mutual Discovery fund and is managed by Anne Gudefin and David Segal.
Alex Calvo and Michael Hasenstab are to manage the Templeton Asian Bond fund. This product invests in a variety of fixed income assets of governments, agencies and incorporates both local and externally issued agencies throughout Asia.
Mark Mobius is to manage the Templeton Brazil, Russia, India and China fund. This portfolio will invest in best bargain stocks in these countries that look like they will add value over time.
In another move, Franklin Templeton Investments has received Financial Services Authority approval for the launch of a sterling distribution share classes for 13 of its offshore Sicav funds, which will apply for UK distributor status.
Jamie Hammond, sales and marketing director at Franklin Templeton Investments Northern Europe, said: "Due to increasing demand from IFAs, the launch of the 13 sterling share classes, which following the recent budget changes will seek distributor status and may therefore allow UK investors to utilise their annual CGT exemption."
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