Franklin Templeton Fund Management Limited (FTFML) has announced a transition of oversight for its Leeds-based Franklin UK Equity team to the platform of Edinburgh-based Martin Currie by February 1, 2022.
Martin Currie, which manages $22.2 billion as of September 30, 2021, joined the Franklin Templeton group through the latter’s acquisition of Legg Mason in July 2020.
Franklin Templeton said Michael Browne, currently Head of Investment Strategy and Oversight at Martin Currie, “has taken on expanded responsibilities and joined the Franklin UK Equity team’s chain of oversight as a secondee effective October 1, 2021.”
As a result, Colin Morton, Head of UK Equities, has been reporting into Browne, effective October 1.
“The support of Michael Browne and the planned transition of the team to Martin Currie’s platform next year will have no impact on the autonomy and structure of the Franklin UK Equity team,” said FTFML.
“The portfolio team, investment philosophy and strategy of the underlying funds will remain the same.
“The Martin Currie platform will enable the Franklin UK Equity team to benefit from local oversight, invest with full independence, supported by a collaborative environment of ESG leadership and a distribution approach that provides specialist support to the Franklin Templeton sales team.
“Colin Morton will continue to lead the investment team, supported by a seasoned group of investment professionals with an average of 18 years of industry experience and nine years at Franklin Templeton.
“Since the Legg Mason acquisition a year ago, Franklin Templeton has been partnering closely with Martin Currie, a leading specialist investment manager (SIM) for active equities in the UK retail market.
“This planned change will further align Franklin Templeton and Martin Currie’s strategic growth plans in the UK retail market with a suite of key offerings consolidated under the Martin Currie platform.”
Martyn Gilbey, UK Country Head at Franklin Templeton, said: “Martin Currie is a leading specialist investment manager in active equities with strong brand recognition and a long history in the UK retail market.
“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.”
Mel Bucher, co-head of global distribution, Martin Currie, said: “We are excited that the Franklin UK Equity team will be joining the Martin Currie platform forming part of our strategic initiative to grow in the UK retail market.
“We look forward to welcoming the team to the Martin Currie platform and providing them with specialist resources and support, whilst partnering with the Franklin Templeton sales team.
“The addition of the Franklin UK Equity team alongside our existing range of funds puts Martin Currie in good stead to achieve our growth ambition for the UK retail market in partnership with Franklin Templeton.”