Franklin Templeton closes 2 funds for low AUM
Franklin Templeton Australia (FTAL) has closed two funds run by ClearBridge and Martin Currie.
The ClearBridge RARE Emerging Markets Fund, a managed investment scheme set up in 2008, closed on 15 May, as FTAL believes it is unlikely to further grow its assets under management. As of 30 April 2025, the fund had $7 million in assets.
“FTAL has considered the current assets under management and the anticipated likelihood of growing the fund’s AUM in the near term and has determined that it is in the best interest of all unitholders to wind up the fund in an orderly manner and return the proceeds to investors.”
The fund aimed to hold a diverse range of infrastructure securities across a number of infrastructure subsectors such as gas, electricity and water utilities, renewables, toll roads, airports, rail and communication infrastructure across geographic regions within emerging markets.
The second fund, Martin Currie Property Securities Fund, is being closed for the same reason. Set up in 1982, the managed investment scheme was $21.8 million in size and invested in Australian listed property trusts and property-related listed equities.
Earlier this year, FTAL announced it will be getting rid of its Martin Currie branding and folding them into the wider Franklin Templeton Group. The firm acquired the global equity player in 2020 as part of its acquisition of Legg Mason, and it has operated as an independent specialist asset manager with US$18 billion in assets under management.
Under the changes, the firm’s Australian, UK and global emerging markets investment and sustainability teams at Martin Currie will move under ClearBridge Investments, while its global long-term unconstrained team will move under Franklin Equity Group.
“This alignment reflects Franklin Templeton’s commitment to optimising organisational efficiency while maintaining a strong focus on client needs,” the firm said.
“This new structure optimises the combined strengths of Martin Currie, ClearBridge Investments and Franklin Equity Group. While Martin Currie’s investment teams will maintain their established investment autonomy and processes, all teams will benefit from broader resources, greater scale and enhanced operational efficiencies. The alignment underscores the firm’s focus on meeting evolving client needs while reinforcing its commitment to investment excellence.”
AUTHOR
Laura Dew
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