The era of star fund managers is over, Franklin Templeton says

Having a star fund manager is an easy way for an asset management firm to attract client money. But for Franklin Resources Inc.’s chief executive officer, it’s not worth the disruption when they leave.

Photo: Kenneth Meyer

Clients get nervous by a star manager, if you appoint one, because then it becomes a succession issue,” Jenny Johnson said in a Bloomberg “Front Row” interview.

Franklin should know. The firm’s Franklin Templeton fund business was once synonymous with Mark Mobius, the investment guru who introduced emerging markets to a generation of investors. Mobius retired from Templeton in 2018 only to start his own firm a few months later.

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