Franklin Templeton has integrated the Franklin European equity team into its wider global equity operations under Dylan Ball, who will serve as head of European equity strategies, Citywire Selector can exclusively reveal.
The move, which took place over the course of November, sees the US group combine its European equity offerings into one unit – the Templeton Global Equity Group – due to overlapping mandates and to produce better efficiencies in terms of shared resources and focus.
In his new role, Ball (pictured below), who is already a named manager on several global equity funds, will take over as lead manager on the Franklin European Growth, Franklin European Opportunities and Franklin European Dividend funds.
This change coincides with Uwe Zoellner leaving the firm, who will formally depart following a transition period. Tim Burkhardt, who had worked on the European Dividend fund with Zoellner, will also leave at a later date.
Franklin Templeton has also announced changes to Ball’s existing funds. Katherine Owen has been assigned as co-lead alongside Ball on the Templeton Growth fund, with Heather Arnold remaining as back-up manager.
Meanwhile, Maarten Bloemen is set to be named co-lead on the Templeton Global (Euro) fund, again with Arnold in a back-up capacity. However, this change is still subject to regulatory approval.
In a statement to Citywire Selector, a spokesperson said: ‘Our focus will remain on maintaining strong and differentiated product offerings in European equities across investment styles and market capitalisation.
‘As we seek to ensure a seamless transition for our clients, the integration will not change how the Franklin European Equity strategies are managed. The investment team managing the Franklin European Equity funds will continue to follow a quality, small-mid cap bias and the portfolios will continue to be concentrated.’