Franklin Templeton closes two funds in overhaul of range

Franklin Templeton is to close two of its UK OEICs and merge away two others following a review of its UK domiciled fund range.

Subject to shareholder approval, the group's £5m UK Equity fund will merge into the £31m Franklin UK Managers' Focus fund - managed by Paul Spencer (pictured), Colin Morton, Stuart Sharp and Mark Hall - on 31 May. The £12m Franklin US Equity fund, meanwhile, will merge into Grant Bowers and Conrad Hermann's top-quartile £10m US Opportunities fund. The group will also close the £12m Franklin Biotechnology and £5m Franklin Global REIT OEICs on that date, but said UK investors will still be able to access both strategies via its Luxembourg SICAV. Franklin Templeton said the changes wi...