Franklin Templeton opens Israel office

Jenny Johnson Photo: Sivan Faraj
Jenny Johnson Photo: Sivan Faraj

Based in the firm's new Herzliya office, Franklin Templeton has appointed Uzi Yitzhak to leads its business.

International investment management company Franklin Templeton Investments has launched its office in Israel to support sales and client servicing needs in the country. Based in the firm's new Herzliya office, Franklin Templeton has appointed Uzi Yitzhak to leads its business by developing 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.

Speaking in Israel, Franklin Templeton Investments president and COO Jenny Johnson said, "Franklin Templeton views Israel as a unique and important growth market. 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.”

She added, "With the opening of this new office, we are committed to strengthening our capabilities in Israel as our clients look to us to solve their needs for specific investment outcomes, while leveraging the comprehensive resources and broad expertise of Franklin Templeton."

Yitzhak has represented Franklin Templeton as a consultant in Israel since 2014. Prior to joining Franklin Templeton, he worked in GGHC, Bank Leumi and Gems Investment Research in the US and Israel. He said, "The volume of activity by Israeli Institutional investors is increasing, and we are now seeing a growing realization among Israeli retail investors about the benefits of investing offshore. Franklin Templeton will be able to offer competitive fees, thanks to direct distribution of our products without tying up with a local asset management firm for distribution."

He added “We have currently registered the Franklin US Opportunities Fund, focused on US companies with strong growth potential, and Templeton Global Total Return Fund, a multi-sector global bond fund. Over time we will launch additional funds to complete our offering suite across asset classes, keeping the needs of Israeli investors in mind.”

Published by Globes, Israel business news - en.globes.co.il - on November 14, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Jenny Johnson Photo: Sivan Faraj
Jenny Johnson Photo: Sivan Faraj
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