Franklin Templeton is set to close three UK-registered OEICs with assets that have fallen to unsustainable levels, as the firm paves the way for new launches "over the coming months".
The closures of the £8m Franklin Strategic Bond fund, the £4m Franklin Diversified Growth fund and £17m Franklin Diversified Income fund will be effective from 15 December, at which point all remaining capital will be returned to investors. Neuberger Berman to hard close China Equity fund Franklin Templeton said in a statement: "Due to the small size of the funds, we believe it is no longer in investors' interests to keep the funds open. "We have a number of new investment offerings in the pipeline, which we will be in a position to announce over the coming months." The asset ma...
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