MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, September 4, 2007 Franklin's Johnsons Look to Dubai for Growth Franklin Templeton Investments has made a deal for a one-quarter, minority stake in a Dubai money manager. Algebra Capital Ltd claims $621 billion in AUM. Franklin will also take two seeks on Algebra's board. The purchase is intended to increase Franklin's stake in Arab markets which could grow to $200 billion in total AUM. The pricing on the deal was not disclosed. "We see tremendous opportunity to grow our business in the Gulf and the greater Middle East-North Africa region," Greg Johnson, chief executive of Franklin Resources said in the statement. Printed from: MFWire.com/story.asp?s=15606 Copyright 2007, InvestmentWires, Inc. All Rights Reserved |