Franklin Templeton Global Investors has completed its acquisition of Rensburg Fund Management, a subsidiary of Investec.
Initially announced in November, the purchase was closed in an all cash transaction for £45m yesterday.
Jamie Hammond, the managing director for Europe at Franklin Templeton, says expects the new partnership to strengthen the group’s position in the British market. (article continues below)
The Templeton UK Equity fund, which was previously mentioned as a merger candidate, is running as usual for the time being. A spokesperson says the group will reassess its product range over the next six months.
The group has not yet confirmed who might be its new head of British distribution, a position for which it advertised last year.