SINGAPORE : In response to growing wealth management opportunities, international fund manager Franklin Templeton has expanded its offerings here with the launch of 38 new funds.
This brings the total number of Franklin Templeton funds in Singapore to 58.
The funds are available in multiple currencies for retail investors, including close to 30 funds denominated in Singapore dollars.
"We have expanded our offering of mutual funds in response to the growth of the wealth management industry in Singapore, said Mr Stephen Grundlingh, Franklin Templeton Investments' Singapore country head.
"It has been estimated that over the next 10 years, the wealth management industry in Asia will grow by US$350 billion (S$508 billion) as a result of inter-generational wealth transfer and the younger generation's preference to delegate the management of their investments to discretionary wealth managers."
Mr William Tan, head of sales at Franklin Templeton Investments Singapore, added: "This expanded range of funds enables (investors) to diversify their portfolios by investing in specific asset classes like commodities, and also allows investors to benefit from different investment styles - for instance, a more aggressive investor can pick a growth fund, and might even prefer one focused on Asia."
A sampling of the new funds include the Franklin Asian Flex Cap Fund, which allows investors to tap into large and small cap companies benefiting from rapid growth across Asia, and the Templeton Emerging Markets Smaller Companies Fund targeting small caps that have the potential to grow into blue chips.
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