Investec has agreed to sell Rensburg Fund Management Limited to Franklin Templeton for £45m.
Rensburg Fund Management has been up for sale for the past five months, after Investec announced plans to take over the remaining 52% stake in Rensburg Sheppards for £412m back in March. Franklin Templeton Global Investors Limited (UK), a subsidiary of Franklin Resources, is more commonly known for its emerging markets products, headed by Mark Mobius. Rensburg Fund Management runs six UK equity strategies and has about £880m under management. Its largest fund is Paul Spencer's £323m UK Mid Cap Growth, followed by Mark Hall's £234.1m Select Growth and Colin Morton's £203m UK Equity ...
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