Franklin Templeton introduced two new equity mutual funds, the Franklin U.S. Long-Short Fund and the Franklin Small-Cap Growth Fund II.
The long-short equity fund invests in a combination of U.S. long and short equity positions, the money management firm said.
The small-cap fund will invest at least 65% of assets in U.S. growth stocks with market capitalizations of less than $1.5 billion. The fund will be managed by the same team that manages the Franklin Small Cap Growth Fund I, which is closed to new investors. The company said in a statement that the fund may invest substantially in technology sectors such as electronic technology and hardware, computer software, Internet-related services and health technology.