Franklin Templeton offers MENA fund to UK

The Luxembourg-domiciled SICAV, soon to have a sterling share class, will be managed by Franklin Advisers with Dubai-based asset manager Algebra Capital as sub-adviser. The Franklin MENA fund also use financial derivative instruments and will hold 40 to 60 equity and fixed income stocks – from countries such as UAE, Kuwait, Qatar, Bahrain, Oman, Egypt, Jordan and Morocco. It can also access the Saudi Arabian market by investing up to 10% into one or more locally-registered equity funds. Franklin’s Stephen Dover will manage the fund, with assistance from Purav Jhaveri. “Compared with...