Toronto-based Franklin Templeton Investments Corp. announced on Monday that it has made Franklin Mutual European Fund available to Canadian investors who want exposure to Europe through companies that are either based in the region or conduct business there.
The timing is right as the region’s economy, which has been impacted severely by the global financial crisis, is showing signs of revival, suggests Philippe Brugère-Trélat, executive vice president and portfolio manager with Franklin Templeton investments, in a statement.
“European equities are currently benefiting from an unusual combination of four factors: a weak euro that helps the region’s exports; a reduced oil price that helps lower companies’ input costs; a full quantitative easing program being implemented by the European Central Bank; and a resumption of lending by banks to corporations,” says Brugère-Trélat. “All of this should translate into better earnings for the region’s companies.”
Brugère-Trélat and Katrina Dudley, a research analyst and portfolio manager with Franklin Templeton Investments, will co-manage the fund, which has been in place for European investors since 1996. It is available in Series A, F, I, M and O.