On 18 February 2020, Franklin Resources, Inc, a global investment management organisation operating as Franklin Templeton, announced it had entered into a definitive agreement to acquire Legg Mason, Inc (Legg Mason).

The proposed acquisition is subject to customary closing conditions, including receipt of applicable regulatory approvals and approval by Legg Mason’s shareholders, and is expected to close no later than the third calendar quarter of 2020.  The combined entity will create a global investment manager with $1.5 trillion in assets under management.

For the time being, we have not taken any action with regard to the funds that feature in The Adviser Centre.

Franklin Templeton has indicated that it plans to preserve the autonomy of Legg Mason’s affiliates, ensuring that their investment philosophies, processes and brands remain unchanged.  Legg Mason incorporates nine independent investment managers, each with their own culture and investment approach.

As a reminder, we currently feature the following funds from Franklin Templeton and Legg Mason: