In July 2020, Franklin Templeton acquired Legg Mason, becoming the world’s sixth largest asset manager with over AUD$2.1 trillion in funds under management (as of 30 June 2021). As a result of the acquisition, on 1 October 2021 Franklin Templeton Australia have made several changes to reflect the new ownership and brand identity in Australia.
1. ‘Legg Mason’ has been removed from the names of Funds managed by Martin Currie within the Australian Unit Trust range.
The new fund names put the focus on Martin Currie, as the specialist investment manager who manage the portfolios.
Martin Currie investment teams continue to operate autonomously with specialised expertise in their respective asset classes.
The table below outlines the name changes. Updated PDS documents are available by following the strategy links.
|Martin Currie Strategy||Current Name of Fund||New Fund Name|
|Global Emerging Markets||Legg Mason Martin Currie Emerging Markets Fund||Martin Currie Emerging Markets Fund|
|Legg Mason Martin Currie Global Long-Term Unconstrained Fun||Martin Currie Global Long-Term Unconstrained Fund|
|Global Real Income||Legg Mason Martin Currie Global Real Income Fund||Martin Currie Global Real Income Fund|
|Equity Income||Legg Mason Martin Currie Equity Income Fund||Martin Currie Equity Income Fund|
|Ethical Income||Legg Mason Martin Currie Ethical Income Fund||Martin Currie Ethical Income Fund|
|Legg Mason Martin Currie Ethical Values with Income Fund||Martin Currie Ethical Values with Income Fund|
|Property Securities||Legg Mason Martin Currie Property Securities Fund||Martin Currie Property Securities Fund|
|Real Income||Legg Mason Martin Currie Real Income Fund||Martin Currie Real Income Fund|
|Value Equity||Legg Mason Martin Currie Select Opportunities Fund||Martin Currie Select Opportunities Fund|
|Sustainable Equity||Legg Mason Martin Currie Sustainable Equity Fund||Martin Currie Sustainable Equity Fund|
|Diversified Growth||Legg Mason Martin Currie Diversified Growth Fund||Martin Currie Diversified Growth Fund|
|Diversified Income||Legg Mason Martin Currie Diversified Income Fund||Martin Currie Diversified Income Fund|
|Tactical Allocation||Legg Mason Martin Currie Tactical Allocation Fund||Martin Currie Tactical Allocation Fund|
2. The name of the Responsible Entity for the Australian Unit Trust range will change from Legg Mason Asset Management Australia Limited to Franklin Templeton Australia Limited.
The change of name from Legg Mason Asset Management Australia Limited (LMAMAL) to Franklin Templeton Australia Limited (FTAL) reflects the company’s membership of the Franklin Templeton group. There is no change to the legal entity itself.
Please note, as a result of the name change, Martin Currie Australia will now be considered a division of Franklin Templeton Australia Limited, and will continue to operate under the same AFSL (No. 240827).
Importantly, none of these changes will impact how unitholders’, SMA or IMA client’s investments are managed by Martin Currie or any service they receive from Franklin Templeton.
For more information, please visit the FAQ on the Franklin Templeton website.