Industry Updates

Facing asset losses at home, Franklin Templeton enters European ETFs

David Tuckwell

Californian asset manager Franklin Templeton has tapped Brussels-based settlement house Euroclear to help build its European ETFs.

As reported by ETF Stream, the new funds will all be smart beta and listed on the London Stock Exchange and Xetra.

With the listings, Franklin Templeton is the latest active American manager to list fresh ETFs in Europe.

"Our strategic goal, three years in the making, has been to build a world class global ETF platform," said Patrick O'Connor, Head of Global ETFs at Franklin Templeton.

"We are very excited to bring our… platform to Europe following our successful launches in the US and Canada."

The listings come at a challenging time for Franklin Templeton, which has seen more than $110bn in assets walk out the door the past three years. According to a report in the Financial Times, most of Franklin Templeton's losses owe to its glacial-paced entry into passive investing.

Its slow response to competition from ETFs has meant that Moody's downgraded its debts from stable to negative.

With more than $743bn under management, Franklin Templeton remains one of the largest asset managers in the world.

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