MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, August 8, 2001 Franklin Templeton Places an Alternatives Bet Franklin Templeton has inked a deal to build its presence in the alternative investment market. The San Mateo, California-based firm will tap into the expertise of The Auda Group to do so. Auda now holds an exclusive right to provide advisory services on hedge funds and private equity investments advisory services in the U.S. for Franklin Templeton Investments. Auda will provide fund-of-fund products in alternative asset classes, including hedge funds and private equity, which Franklin Templeton will then offer to qualified investors. The deal provides added distribution muscle to Auda, which began as the captive asset manager for the German Auda family, heirs for the Mercedes and BMW fortunes. In recent years Auda has evolved from a captive family office to a firm actively courting the high net worth market in the United States. William Post II, president of Franklin Templeton Strategic Partners, explained that Auda's established relationship with the top fund managers in both hedge funds and private equity was pluses in the deal. Auda has developed a specialty in creating portfolios of private equity and hedge fund managers for its high net worth clients. It also conducts due diligence on these managers for clients. Printed from: MFWire.com/story.asp?s=26834 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |