Franklin Templeton Investments combined its San Mateo, Calif., New York and London-based fixed-income operations into a single unit with more than $130 billion in assets, called Franklin Templeton Fixed Income Group, said Christopher Molumphy, executive vice president and CIO. The firm combined the fixed-income teams from Franklin Advisers and Fiduciary Trust Co. International.
The new group has roughly 100 investment professionals working on a range of investment-grade credit, high-yield, mortgage tax-free, emerging market debt and global fixed-income strategies, said Mr. Molumphy, the head of the new unit. Combining the two entities will allow Franklin to integrate "complementary fixed-income resources and skill sets to create an even stronger platform," he said. The combination of the units will also permit Franklin to take a more integrated global approach to fixed income.
Franklin will consider adding European investment professionals to the new fixed-income group, which intends to bring absolute-return fixed-income strategies to the marketplace in the near future, Mr. Molumphy added.