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Franklin UK Mid Cap - fund manager retirement

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Franklin Templeton has announced that veteran research analyst Mark Hall will be retiring in December 2021. He joined the company in 2011 following its acquisition of Rensburg Fund Management and has built a career in the industry spanning more than 30 years.

Hall trained as an accountant before joining BWD Rensburg in 1988. He initially researched smaller companies but over the years he managed funds investing in companies of all sizes. This includes the Rensburg UK Select Growth Trust (now named the Franklin UK Opportunities Fund), which he managed for over a decade. Hall stepped back from managing funds in 2013 to spend his time focused on what he was truly passionate about – company research. He has also been a mentor for the UK Equity team at Franklin, sharing his vast knowledge and experience.

Hall has been an unsung hero during his career, bringing extensive experience to his supporting role for a number of funds investing across the UK market. While it’s not a surprise to hear a fund manager retire after so many years in the industry, it’s still disappointing to see such a successful analyst and fund manager leave.

What does this mean for the team?

Hall is one of four named managers on the fund. That said, Richard Bullas is the fund’s lead manager and receives support from the other three. Franklin’s UK team uses this structure to reflect the collegiate nature of their investment decision-making process. The team has been bolstered over the years and recently recruited two new analysts to provide further support.

Jo Rands joins as a senior research analyst and fund manager to focus on larger UK companies. Rands has worked in the industry for over two decades and has experience covering small and medium-sized companies.

Courtney Westcarr is a dedicated research analyst for small and medium-sized UK companies, which means he’ll have more direct involvement in the Franklin UK Mid Cap Fund. He joins from Cardale Asset Management where he covered global equities including the UK.

Since the beginning of 2020, the UK team has lost two experienced members with Paul Spencer retiring in September last year. Franklin has focused on succession planning as a result of these retirements and the new hires will help to provide the team with the appropriate support.

We still believe the fund is in good hands under Bullas who has been involved with the fund since 2013 and has a strong track record investing in higher-risk companies of a smaller size. As a result, the fund maintains its place on the Wealth Shortlist of funds chosen by our analysts for their long-term performance potential. As always, we will continue to monitor the situation and keep investors informed if our views change.

This isn’t a recommendation to make any changes to a portfolio. Investors should make sure any investments match their investment goals and attitude to risk. If you're not sure if an investment is suitable for your circumstances, please seek advice.

Annual percentage growth

Scroll across to see the full table.

Aug 16 - Aug 17 Aug 17 - Aug 18 Aug 18 - Aug 19 Aug 19 - Aug 20 Aug 20 - Aug 21
Franklin UK Mid Cap 19.2% 9.1% 0.2% -10.2% 39.0%
FTSE 250 ex Investment Trusts 14.2% 7.1% -5.0% -9.3% 42.9%

Past performance is not a guide to the future. Source: Lipper IM to 31/08/2021

Find out more about Franklin UK Mid Cap including charges

Franklin UK Mid Cap Key Investor Information

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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