Franklin unit acquires Bissett
TORONTO -- Templeton Management, a wholly owned unit of Franklin Resources, will purchase Bissett & Associates Investment Management for C$140 million ($95.5 million). Bissett, which has C$5.7 billion in assets under management, will be acquired through a newly formed subsidiary, the name of which has not yet been announced, according to Alan Weinfeld, head of investor relations for Templeton.
SEI Investments (Europe) hires 7 as subadvisers
LONDON -- SEI Investments (Europe) hired seven managers for its U.K. and European manager-of-manager strategies.
Capital International and Acadian Asset Management each will handle 25%of the European Equity ex-U.K. strategy assets in a value portfolio, and BlackRock International will run the balance in a growth portfolio.
Capital International will run 30% of U.K. equities in value; Liontrust Asset Management, 30% growth; and SG Asset Management, 40% U.K. large-cap core.
Foreign & Colonial will run U.K. index-linked bonds, and Goldman Sachs Asset Management will handle a U.K. core bond portfolio and a U.K. long-duration bond portfolio.
Asset Alliance buys stake in Wessex Asset Management
LONDON -- Asset Alliance International bought an equity stake in Wessex Asset Management, which manages Asia-Pacific (ex-Japan) absolute-return strategies. Terms of the transaction were not disclosed.