Franklin Templeton has announced plans that Martin Currie, a US$18 billion investment manager for active equities will begin the process of aligning the majority of its business under ClearBridge Investments (ClearBridge), a US$193 billion investment manager for global equities, with one team moving under Franklin Equity Group, a US$139 billion investment manager focused on long-term quality growth equities. This new structure will optimise the combined strengths of Martin Currie, ClearBridge and Franklin Equity Group.
Martin Currie’s Australia, Global Emerging Markets and UK investment and sustainability teams will move under ClearBridge, and Martin Currie’s Global Long-Term Unconstrained (GLTU) team will move under Franklin Equity Group. In the new structure, Martin Currie’s existing products and investment teams will maintain their investment autonomy and integrity to achieve greater scale and access to broader resources to benefit clients. These plans will require several steps prior to completion, including regulatory approvals where applicable.
With their respective rich histories and track records within the asset management industry, ClearBridge and Martin Currie’s businesses are highly complementary from the perspective of investment approach, product offering and cultural fit. ClearBridge operates with scale globally and has a successful track record of aligning other businesses under its own. Both groups share a clear commitment to sustainability and a long-standing drive to bring about positive change in public equities through active ownership. Post alignment, ClearBridge will have over US$200 billion in assets under management and gain additional capabilities across Australian, Global Emerging Markets and UK equities.
Similarly, Franklin Equity Group’s philosophy of investing in long-term quality growth companies is also highly complementary to the GLTU team, led by Zehrid Osmani. The team’s global equity research platform will enable the GLTU team over time, to access broader and deeper expertise across several relevant sectors through increased collaboration. Following this alignment, Franklin Equity Group’s assets under management in dedicated global and international mandates will be approximately US$12 billion, these are managed primarily for leading institutional clients.
These plans reflect months of thoughtful collaboration and the firm’s commitment to optimising organisational efficiency while maintaining a strong focus on meeting client needs.
The Martin Currie brand will retire in 2025 with no changes to the investment process or portfolio management teams.
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