Franklin in deal with Romania fund

Franklin Templeton Investments and Romania's sovereign fund Fondul Proprietatea have signed an agreement whereby the former will work as investment manager of SWF's Romanian equity asset fund.

The fund, valued at approximately €2.4 billion (Dh12.85bn), was launched in December 2005 to compensate Romanians whose properties were confiscated by the country's former communist regime.

As a result of this new relationship, Franklin Templeton Investment Management Limited is in the process of establishing and resourcing a dedicated office in Bucharest.

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