Templeton likely to merge UK Equity fund

The Templeton UK Equity fund is likely to be merged away following Franklin Templeton's takeover of UK equity boutique Rensburg Fund Management.

Run by Martin Cobb, the £5m fund is at the bottom of the IMA UK All Companies sector over one year and is no longer running external money, according to Franklin Templeton. The fund is the only UK equity vehicle in Franklin Templeton's 11 fund Oeic umbrella, while Rensburg Fund Management boasts a six-strong UK equity range with £880m under management. The largest is Paul Spencer’s £323m UK Mid Cap Growth fund, followed by Mark Hall’s £234m Select Growth fund. Franklin Templeton Investments managing director Europe Jamie Hammond says the group will be looking closely at the fund. ...