Franklin Templeton is set to hand Euro Stars A-rated manager Michael Clements a rebranded and refocused European equity fund, the asset management company has announced.
Under a planned change to its European equity funds, Clements will assume responsibility for the UK-domiciled Templeton Europe fund, which is currently co-run by Heather Arnold, Peter Moeschter and Dylan Ball.
A Franklin Templeton spokesperson confirmed to Citywire Global they intend to rebrand and reshape this strategy as the Franklin European Opportunities fund under Clements at the end of September.
They also stated that Clements is likely to change a large number of stocks in the portfolio given the differing investment styles between the Franklin European Growth and Templeton Europe funds.
Franklin Templeton said the fund will continue to focus on the Europe ex UK equity market and hold between 25-45 stocks at any one time.
The Franklin European Growth fund returned 51.85% in the three years to the end of June 2013. This compares to a rise of 29.2% by its Citywire benchmark, the FTSE World Europe TR EUR.
Meanwhile, the Templeton Europe A Acc fund has returned 27.27% over the same three year period. This is while its Citywire benchmark, the FTSE World Europe ex UK TR GBP, rose 26.54%.