Jerry Palmieri, the portfolio manager of the $9.8 billion Franklin Growth fund, passed away on April 6, at the age of 85, according to Morningstar. Palmieri has been managing the bronze-rated fund since 1965 and, in 1987, was the recipient of Morningstar's first ever Fund Manager of the Year award.

The fund generated consistent strong performance and provided some downside protection as well. It returned 5.43 percent on an annualized basis over the past 15 years, beating the 3.93 percent return of the S&P 500 Index in the same time period.

Palmieri was born Vivian Jerry Palmieri in New York City in 1928. He graduated from Williams College in 1950 with a degree in economics and then served in the U.S. Air Force during the Korean War. He joined Franklin Templeton Investments in 1963.

More information can be found in his obituary at the Avery-Storti Funeral Home & Crematory in Rhode Island. 

Edited by: Anastasia Donde


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