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Franklin Templeton converts two mutual funds to ETFs


Franklin Templeton has announced the conversion of two mutual funds to ETFs, expanding the firm’s ETF line-up for actively managed US large cap value and international growth strategies.

The two converted funds are the BrandywineGLOBAL–Dynamic US Large Cap Value ETF (NASDAQ: DVAL) and the Martin Currie Sustainable International Equity ETF (NASDAQ: MCSE). Brandywine Global Investment Management, LLC and Martin Currie Inc. are specialist investment managers of Franklin Templeton.

“These two funds represent our first mutual-fund-to-ETF conversions,” says Patrick O’Connor, Head of Global ETFs for Franklin Templeton. “Leveraging the deep expertise and focus of our independent specialist investment managers, these two funds have historically delivered exceptional results and diversification potential for clients. Now we are excited to continue to offer these investment strategies within the attractive and popular ETF vehicle.”

The conversions were first announced in December 2021, and the firm received shareholder approval in June 2022. The two ETFs will be managed in a substantially similar manner as the previous mutual funds. Each ETF will retain its existing investment objective, principal investment strategy, primary sub adviser and portfolio management team.

DVAL, BrandywineGLOBAL–Dynamic US Large Cap Value ETF, seeks long-term capital appreciation by investing in US equities using a quantitative approach. The fund normally invests at least 80 per cent of its net assets in the equity securities of US large capitalization companies.

MCSE, Martin Currie Sustainable International Equity ETF, strives to provide long-term capital appreciation by investing in equity and equity-related securities of foreign companies. The fund focuses on finding companies that have a strong history of offering high and sustainable returns on invested capital over time.

The firm writes that its US ETF platform provides solutions for a range of market conditions and investment objectives through active, smart beta and passively managed ETFs. The addition of these two ETFs is intended to further diversify Franklin Templeton’s product suite across asset classes and geographies.

“In converting these mutual funds to ETFs, we are responding to growing client demand for these products while also broadening our line-up to include additional strategic offerings in the actively managed US large cap value and international growth spaces,” O’Connor says. “We now offer 58 ETFs in the US with a combined AUM of approximately USD9 billion.”

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