Franklin Templeton is transferring oversight for its UK equities team, led by Colin Morton, to the Martin Currie platform.
Ahead of the transition on 1 February 2022 Martin Currie head of investment strategy and oversight Michael Browne has joined the Franklin UK equity team’s chain of oversight as a secondee. Head of UK equities Morton (pictured) has been reporting into Browne since 1 October.
The move will not impact the autonomy or structure of the Franklin UK equity team, which will continue to be led by Morton.
The investment philosophy and strategy of the underlying funds, which includes the £866.6m Franklin UK Equity Income fund run by Morton, Ben Russon and Will Bradwell, will also go unchanged.
A Franklin Templeton spokesperson said the branding remains unchanged but will be reviewed as the team works more closely with Martin Currie over the next 12 months.
A press release said the move will further align Franklin Templeton and Martin Currie’s strategic growth plans in the UK retail space by consolidating a “suite of key offerings” on the Martin Currie platform. Currently, it has emerging markets, Asia, global and European equity funds for retail investors.
Meanwhile the Franklin UK equity team will benefit from “local oversight”, allowing it to “invest with full independence,” as well as Martin Currie’s ESG resources and distribution firepower.
“Martin Currie is a leading specialist investment manager in active equities with strong brand recognition and a long history in the UK retail market,” said Martyn Gilbey, UK country head at Franklin Templeton.
“We believe this upcoming change will provide a natural synergy, combining the recognised local brand of Martin Currie with the strong, long-term investment track record of the Franklin UK Equity team.”
At the end of September Martin Currie had $22.2bn in assets. It linked up with Franklin Templeton after the latter acquired Legg Mason last July.
