Franklin Templeton Investments has added sterling-priced distributor share classes to its recently launched Franklin Mena [Middle East and North Africa] fund.
This addition brings the total number of sterling-priced distributor share classes available within the Luxembourg-domiciled Franklin Templeton Investment Funds Sicav range to 18.
The two new share classes are available to retail and institutional UK investors.
Jamie Hammond, senior director of global advisory services at Franklin Templeton Investments, said the sterling share classes were added due to increasing interest for a pure Mena strategy.
“As we launch more products within our Luxembourg-domiciled Sicav range and broaden our distribution universe, we believe these sterling-priced share classes will facilitate access for UK investors to key strategies beyond mainstream equity and fixed income products,” said Hammond.
The firm also hopes to make the fund available on fund platforms to enable easier access for financial advisers.
Launched in June 2008, the Franklin Mena fund is managed by Franklin Advisers with Dubai-based asset manager Algebra Capital acting as sub-adviser.
The portfolio is a concentrated selection of 40 to 60 equity and fixed income stocks as well as financial derivative instruments across all sectors and market capitalisation ranges in the Mena region, including Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan and Morocco.
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