The Franklin UK Select Growth will be renamed the Franklin UK Opportunities Fund in order to remain consistent with other sub funds in its range with similar investment styles such as the US Opportunities Fund.
The change will come into effect on 30 September, and the fund’s investment objectives will remain the same.
The Templeton Europe Fund is being renamed the Franklin European Opportunities Fund, and there will be a change to the investment objective, investment policy and the management team.
The European equities team, headed up by Mike Clements, will take over management of the fund from the Global Equity team.
In a statement the firm said: “The Authorised Corporate Director of FTF has decided to transfer the management of the Templeton Europe fund to the Franklin European Equity Team.
“The fund will still invest in the equities of European (excluding UK) companies, and will be managed in a similar way to the European Growth Fund. It will normally have a focused portfolio, typically of around 25-45 European companies, regardless of their size, sector or county which may look very different to the benchmark or competitor funds.
“Although some overlap does exist, the Franklin European Equity team may pick different stocks from the Templeton European Equity team due to the different investment style. The majority of holdings in the fund are likely to be replaced by the new portfolio manager.”
Last month Franklin Templeton appointed Mark Elliot as head of advisory in a post-RDR reshuffle.
