Franklin Templeton Investments Enters Strategic Relationship with Vietcombank Fund Management

Businesswire India
Posted: Monday, Feb 25, 2008 at 1004 hrs IST
Updated: Monday, Feb 25, 2008 at 1024 hrs IST

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Hanoi, February 23:: and Mark Browning, co-CEO of TAML and managing director, Asia for Franklin Templeton International, have been named as members of VCBF's Board of Directors.

"We see great opportunity in Vietnam with rising income levels among Vietnamese investors and a low penetration rate for mutual fund investments," said Browning. "With Vietnam's average growth rate of approximately 7% over the last 10 years, we see a bright future for expanding our pan-Asia business to serve investors in Vietnam."

Franklin Templeton established its presence in the Asia Pacific region in the late 1980s and today has offices in China (mainland and Hong Kong), India, Japan, Korea, Singapore and Australia. In addition, the venture will expand Franklin Templeton's local asset management capabilities - which currently include Brazil, Canada, China, India, Japan, Korea and UAE.

Franklin Resources, Inc. (NYSE:BEN), is a global investment management organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series and Fiduciary Trust investment teams. The San Mateo, CA-based company has 60 years of investment experience and over US$605 billion in assets under management as of January 31, 2008. For more information, please visit franklintempleton.com....

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