Mexico City, April 22, 2013 - Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating as Franklin Templeton Investments, today announced that Heyman y Asociados S.C., a leading independent institutional asset manager in Mexico, has agreed to join forces with Franklin Templeton Investments in Mexico, subject to customary closing conditions. Full terms of the transaction were not disclosed.
Michel Tulle, senior director for Franklin Templeton Americas stated, “We are excited to be joined by Heyman y Asociados, an established Mexican asset management firm with over 20 years’ experience managing assets on behalf of prominent institutional clients. This transaction permits us to expand significantly our presence in the institutional asset management market in Mexico, and reinforces our corporate strategy of providing clients with the best investment products in markets such as Mexico, where Mexican asset management experience is important to meeting both global and Mexican investor needs.”
Heyman y Asociados S.C, with managed and advisory assets of approximately USD 1.1 billion as of March 31, 2013, was established in 1985 and specializes in managing pension funds, endowment funds, reserves and treasury funds, for Mexican and multinational corporations, Mexican educational, environmental, healthcare and other non-profit institutions, and for Mexican insurance companies. The team is led by Timothy Heyman, an experienced investment professional with more than three decades in Mexico.
The Heyman team will provide investment management services through Franklin Templeton Servicios de Asesoría Mexico, S. de R.L. de C. V (“FTSAM”), a new institutional investment management subsidiary, of which Timothy Heyman will become CEO. Subject to customary regulatory approval, Mr. Heyman will also become Chairman and a Member of the Board of Franklin Templeton Asset Management Mexico, S. A. de C.V. (“FTAM”), Franklin Templeton’s mutual fund management company in Mexico.
Commenting on the transaction, Mr. Heyman said, “We look forward to being part of a world-class, global investment management group. We believe our specialized investment strength in Mexican asset management is an ideal complement to Franklin Templeton’s existing business in this market.”
Mr. Heyman added, “Franklin Templeton has a proven track record of keeping its asset managers’ investment process unchanged, while providing extensive global resources in distribution, risk management and other key functions to help support and grow these businesses. This agreement with Franklin Templeton ensures long-term continuity for our clients in terms of the investment team, and process, with an even higher quality of service than that to which they are already accustomed.”
“This is an exciting and important development for our Mexico business, underscoring Franklin Templeton’s commitment to growing its presence and capabilities in the fast-growing Mexican asset management market,” said Hugo Petricioli, Franklin Templeton’s country head for Mexico and Central America. “Heyman brings tremendous expertise and a proven track record in Mexican asset management to our organization and will enhance the range of high-quality products that we can offer to investors and institutions.”
Franklin Templeton Investments has been present in Mexico for almost 20 years, and its funds have been investing in the country since the early 1980s. In 2005, the company opened its first office in Mexico and its asset management operation, Franklin Templeton Asset Management Mexico, began operations in 2009.
Timothy Heyman was President of ING Baring Grupo Financiero (México), S.A. de C.V., and of Baring, S.A. de C.V. Casa de Bolsa, the first foreign brokerage in Mexico. He has been named Emerging Markets All-Star by Global Finance, and was selected first place for Mexican economic, financial and stock market research by Institutional Investor for three successive years. He is the author of eight best-selling books on Mexican investments, the latest being Inversión en la Globalización and Mexico for the Global Investor. He has a BA from Oxford and an MS in Management from the Sloan School of Management at MIT.
“As one of the first global investment management firms to establish local asset management capabilities, we have had an enduring presence in global markets for many years,” said Stephen Dover, international chief investment officer of Franklin Templeton Local Asset Management Group. “With the addition of Mexico, the group now has locally managed and distributed products in 11 countries including Australia, Brazil, Canada, China, India, Japan, Korea, Mexico, the United Arab Emirates, the United Kingdom and Vietnam. We believe this first-hand, local investment expertise, combined with shared research from across the globe, gives us unparalleled insights into the markets where we invest.”
Franklin Templeton Asset Management Mexico is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment management organization operating in 35 countries as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Bissett, Fiduciary Trust, Darby, Balanced Equity Management and K2 investment teams. The San Mateo, CA-based company has more than 65 years of investment experience and more than USD 823 billion in assets under management as of March 31, 2013. For more information, please visit franklinresources.com.
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For media inquiries, contact:
New York: Bill Weeks, +1 212-632-3204, bweeks@frk.com
Mexico City: Regina Suarez Okhuysen, +52 55-5002-0665, rsuarez1@templeton.com