European manager Clements to exit Franklin Templeton

European equity fund manager Michael Clements and a member of his team are to leave Franklin Templeton.

The manager (pictured), who took over the revamped European Opportunities OEIC last September, will leave on 1 August 2014, as will team member Clare Manson. Clements, who joined Franklin Templeton in 2008, was also responsible for the €3bn (£2.4bn) offshore European Growth fund. Franklin Templeton said head of pan-European equity Uwe Zoellner and team will maintain the "highly collaborative team approach" used to run its European equity funds. "There will be no change to the funds' investment philosophy and approach. We remain confident and committed to our goal of delivering comp...