Franklin Templeton gets go ahead for MENA fund

The fund, a Luxembourg-domiciled SICAV, was launched on June 16 and will be managed by Franklin Advisers, with Dubai-based asset manager Algebra Capital acting as sub-adviser. The Company will look to launch a tax-friendly, Sterling-priced, distributor status share class for UK investors within the next few weeks. The Franklin MENA Fund seeks to achieve long-term capital appreciation by investing in a concentrated portfolio of 40 to 60 equity and fixed income stocks, as well as financial derivative instruments, across all sectors and market capitalisation ranges in the Middle-East an...