Following the announcement by Franklin Templeton Investments that Michael Clements and Claire Manson will be leaving the firm on 1 August 2014, we have placed the fund's Morningstar OBSR Analyst Rating™ Under Review. The fund previously held a Bronze rating. Mr Clements has been a key driver of the fund's success in recent years and we view his departure as a loss to the fund and his team. Uwe Zoellner, head of the Franklin European equity team, will assume responsibility for the fund on 15 July 2014 and will be supported by portfolio manager Robert Mazzuoli. Mr Zoellner has headed up the team for the last six years and has been with the firm since 2001. We will meet with Mr Zoellner in due course to understand his plans for the fund.
See the latest Morningstar OBSR fund rating news here.
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