Martin Currie brand ‘retired’ by Franklin Templeton

Martin Currie CEO Jen Mair

Franklin Templeton announced that its Edinburgh-based Martin Currie business, the $18 billion investment manager for active equities, will “align” the majority of its business under Franklin Templeton’s $193 billion ClearBridge Investments “with one team moving under Franklin Equity Group.”

Franklin Templeton said the Martin Currie brand will “retire” in 2025 with no changes to the investment process or portfolio management teams.

“The Franklin Templeton office in Edinburgh’s Exchange District is in the heart of Scotland’s Capital and it is well resourced with employees across various functions including several portfolio management teams,” said Franklin Templeton.

“Whilst this is a realignment of brand, there will be no change to the investment teams and we continue to have a presence in Edinburgh.”

Franklin Templeton said Martin Currie CEO Jen Mair “continues as CEO throughout the alignment” with existing reporting lines remaining in place.

“In the short term, we do not anticipate any immediate changes to reporting lines,” said the firm. “The investment teams will continue to report to Michael Browne, CIO at Martin Currie, who will partner closely with Scott Glasser, CIO of ClearBridge and Jonathan Curtis, CIO of Franklin Equity Group.”

Franklin Templeton is part of the Franklin Resources group, the California-based company with over $1.5 trillion in assets under management.

Franklin Templeton said: “Martin Currie’s Australia, Global Emerging Markets and UK investment and sustainability teams will move under ClearBridge, and Martin Currie’s Global Long Term Unconstrained (GLTU) team will move under Franklin Equity Group.

“In the new structure, Martin Currie’s existing products and investment teams will maintain their investment autonomy and integrity to achieve greater scale and access to broader resources to benefit clients.

“These plans will require several steps prior to completion, including regulatory approvals where applicable.

“With their respective rich histories and track records within the asset management industry, ClearBridge and Martin Currie’s businesses are highly complementary from the perspective of investment approach, product offering and cultural fit.

“ClearBridge operates with scale globally and has a successful track record of aligning other businesses under its own.

“Both groups share a clear commitment to sustainability and a long-standing drive to bring about positive change in public equities through active ownership.

“Post alignment, ClearBridge will have over $200 billion in assets under management and gain additional capabilities across Australian, Global Emerging Markets and UK equities.

“Similarly, Franklin Equity Group’s philosophy of investing in long-term quality growth companies is also highly complementary to the GLTU team, led by Zehrid Osmani.

“The team’s global equity research platform will enable the GLTU team over time, to access broader and deeper expertise across several relevant sectors through increased collaboration.

“Following this alignment, Franklin Equity Group will gain a combined total of US$12 billion in assets under management, comprised of dedicated global and international mandates managed primarily for leading institutional clients.

“These plans reflect months of thoughtful collaboration and the firm’s commitment to optimising organisational efficiency while maintaining a strong focus on meeting client needs.”