Franklin Mutual Advisers, LLC veterans Peter Langerman and Philippe Brugere-Trelat have been appointed co-lead managers of Mutual Discovery Fund, effective immediately, Franklin Templeton Investments Corp. said Monday.

Langerman and Brugere-Trelat have replaced Anne Gudefin and Charles Lahr who have resigned from the company, effective December 4, to pursue other opportunities.

“Mr. Langerman and Mr. Brugere-Trelat bring a wealth of global equity experience and a deep understanding of Mutual Series’ investment style to Mutual Discovery Fund,” said Don Reed, president and chief executive officer of Franklin Templeton Investments Corp. “They are supported by 25 experienced managers, analysts and traders who employ the time-tested, deep value approach that has proven successful over the past 60-years.”

Langerman is president, CEO and chairman of Franklin Mutual Advisers, LLC. He has more than 20 years of experience employing Mutual Series’ deep value approach. He initially joined Heine Securities Corporation (predecessor of Franklin Mutual Advisers, LLC) in June 1986. He served as CEO of Mutual Series beginning in 1998.

Brugere-Trelat manages the U.S.-based Mutual European Fund and Mutual International Fund. He began his career at Mutual Series in 1984 and has 25 years of industry experience.

IE