Franklin European Small Mid Cap Growth soft-closes

Franklin Templeton has soft-closed its European small and mid-cap fund after its management team hit maximum capacity.

The €391m Franklin European Small Mid Cap Growth fund, which is managed by Ed Lugo, closed to new investors on 3 June.

According to the asset manager: “The Franklin global small cap team has been fortunate to experience a significant rise in the Franklin European Small Mid-Cap Growth fund AUM in recent years, driven by its successful investment approach.

“However, in order to protect our continued ability to effectively manage assets for existing clients, the group has determined that it needs to slow the growth of assets.”

The fund launched in December 2001 and outpeformed the MSCI Europe Small-Mid Cap Index over one, three, five and ten years. Over the decade to 30 April 2013, the fund is up 258.5 per cent compared with the 170 per cent rise in the benchmark.

Franklin European Small Mid Cap Growth’s cumulative performance to 4 June 2013

Franklin European Small Mid Cap Growth’s cumulative performance to 4 June 2013
 
Fund 6.37% 18.68% 44.16% 41.12% 45.78%
4.09% 13.70% 29.90% 37.97% 13.09%
2.19% 4.38% 10.98% 2.28% 28.90%
  12 / 51 7 / 51 4 / 51 28 / 47 8 / 44
1 1 1 3 1

Source: FE Analytics