Franklin Templeton and Invesco drop out of top-ten list of Europe's largest managers

Franklin Templeton and Invesco have lost their spots in the list of the top ten largest fund groups by assets under management in European-domiciled funds in 2016.

According to Morningstar data, European-domiciled assets under management at Franklin Templeton fell from €121bn in 2015, which made it the tenth largest fund house in Europe, to €102bn, pulling it down into the 15th spot. Globally, the firm was the worst selling fund provider last year, as total assets under management fell 5% to $733bn and revenue dropped 16.7% to $6.4bn. The firm has also recently been targeted over its executive pay packages, with consultants arguing chief executive Greg Johnson should not be paid his cash bonus, which has been described as 'excessive'. Another...