Franklin Templeton opens new office in Israel

Franklin Templeton Investments, a global investment management company, inaugurated a new office in Israel on Tuesday to support sales and client servicing needs in the country. The firm has appointed Uzi Yitzhak to spearhead its business and work to develop tailored solutions for clients in Israel, leveraging the capabilities of Franklin Templeton's global investment groups. The firm also announced the registration of two mutual funds in Israel: Franklin US Opportunities Fund and Templeton Global Total Return Fund. “Franklin Templeton views Israel as a unique and important growth market,” said Jenny Johnson, president and COO of Franklin Templeton Investments. “We are excited about the decision by the Israeli government to allow global investment management firms to offer offshore products to Israeli customers and are looking forward to being in this market. Over the years, we have been witnessing Israeli investors' increasing preference for foreign investments and believe that firms such as ours with a diverse global product range across asset classes can effectively address their needs.” Prior to joining Franklin Templeton, Yitzhak worked in GGHC, Bank Leumi and Gems Investment Research in the US and Israel. He has over two decades of experience in the financial services sector as a senior analyst, portfolio manager and consultant. Yitzhak graduated with a Law degree from the Tel Aviv University and holds an MBA. from the University of California, Berkeley, Haas School of Business. He is a Chartered Financial Analyst charter holder. The Franklin US Opportunities Fund invests mainly in equity securities issued by companies of any size located in, or doing significant business in, the US. The fund's mandate is to provide investors with exposure to leading companies in their respective fields that meet the investment criteria of growth, quality and valuation. The fund is managed by Grant Bowers and Sara Araghi, portfolio managers for Franklin Equity Group, and currently has over $4.5 billion in assets under management as of September 30. The Templeton Global Total Return Fund aims to maximize total investment return consisting of a combination of interest income, capital appreciation and currency gains by investing principally in a portfolio of fixed and/or floating rate debt securities and debt obligations issued by government and government-related issuers or corporate entities worldwide. The fund may invest in investment grade and non-investment grade debt securities. The fund may also use various currency-related and other transactions involving derivative instruments. The fund is managed by Dr. Michael Hasenstab and Dr. Sonal Desai of Templeton Global Macro and currently has over $16.8b. in assets under management as of September 30.

Franklin Templeton opens new office in Israel

The firm also announced the registration of two mutual funds in Israel: Franklin US Opportunities Fund and Templeton Global Total Return Fund.

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