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Franklin Templeton shuts three funds in product review

Franklin Templeton shuts three funds in product review

Franklin Templeton has shut down three subscale Oeics as it reviews its UK fund offerings and promises further launches.

The US multi-boutique asset manager said it would close the £17 million Franklin Diversified Income, £8 million Franklin Strategic Bond and the £4 million Franklin Diversified Growth funds on 15 December.

The funds had over the last 12 months returned  -0.9%, 2.2% and -1.1%, respectively.

‘We regularly review our fund range offering and in this regard we made several changes for UK investors,” Franklin Templeton said in a statement.

‘In February 2017 we launched the Franklin UK Gilt fund and the Franklin UK Corporate Bond fund with a highly competitive annual management charge of 25 basis points and 35 basis points for class W Shares respectively.

'We have also reduced the fee on three core UK Equity funds, the Franklin UK Rising Dividends fund, Franklin UK Equity Income fund and Franklin UK Opportunities fund, to 45 basis points.

‘We are confident that our current fund range represents a strong value proposition for UK investors and we are committed to building our offering in relevant sectors of the market.

'We have a number of new investment offerings in the pipeline that we will be in a position to announce over the coming months.'

 

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