SAN MATEO, Calif., Feb. 07, 2017 (GLOBE NEWSWIRE) -- Franklin Resources, Inc.
(NYSE:BEN), which operates as Franklin Templeton Investments, today announced
that the team from AlphaParity, a risk premia investment firm, will join its
Franklin Templeton Solutions platform. The transaction is subject to standard
closing conditions and is expected to be completed later this month. Terms of
the transaction were not disclosed.
Greg Johnson, chairman and CEO of Franklin Resources, Inc., said, “We continue
to make strategic investments in small, yet highly experienced asset management
teams that complement Franklin Templeton’s global offerings. AlphaParity fits
well with our overall corporate strategy to expand our solutions capabilities.”
AlphaParity is a macro-focused quantitative investment firm founded in 2012 by
Steve Gross and Joshua Smith. The experienced team of 11 professionals based in
New York and London manages approximately $500 million as of December 31, 2016,
in custom portfolio solutions for pension funds, foundations, family offices and
alternative asset managers. Currently, AlphaParity offers Global Premia and
Negative Correlation investment strategies to institutional clients.
“We continue to enhance our solutions offerings to address evolving client needs
in an increasingly complex investment landscape,” said William Yun, CFA,
executive vice president, Franklin Templeton Alternative Strategies.
“AlphaParity’s quantitative approach to asset allocation, focusing on both
fundamental and technical analysis, and ability to create its own risk premia
strategies fits well with Franklin Templeton’s existing industry-leading risk
premia research efforts.”
“As factor investing has evolved, we believe AlphaParity’s unique approach to
exploiting these factors in an efficient way can lead to better outcomes for our
clients,” added Yun. “We look forward to leveraging AlphaParity’s innovative
portfolio solutions and analytics to provide our global institutional and retail
client base with unique diversification, absolute return and hedging solutions.”
Steve Gross, founder and chief investment officer of AlphaParity, said, “Joining
Franklin Templeton, a leading global asset management firm with a world class
investment platform, advances our long-term mission to deliver next generation
portfolio solutions to investors. We look forward to partnering with Franklin
Templeton and its strong product development teams, well-established global
distribution networks and deep institutional relationships, to maximize our
capabilities and realize our vision.”
AlphaParity was advised by Citi and Lax Law LLP and Franklin Templeton
Investments was advised by Weil, Gotshal & Manges LLP.
AlphaParity LLC is a macro-focused quantitative investment firm with offices in
New York City and London. The firm was founded in October 2012 to design and
manage next generation portfolio diversification solutions for institutional
investors, including pension funds, family offices, alternative asset managers
and foundations. The firm’s Chief Investment Officer- Steve Gross, Head of
Research- Joshua Smith, and President- Jeffrey Silverman were formerly
colleagues at Tudor Investment Corporation. The management team's expertise in
quantitative, fundamental and derivatives strategies across asset classes allows
for unique insights and investment solutions across styles and disciplines.
About Franklin Templeton Solutions
Franklin Templeton Solutions leverages the insights and investment strategies
from Franklin Templeton’s various investment management groups and employs both
strategic and tactical asset allocation to create diversified outcome-oriented
portfolios focused on risk-adjusted performance and tailored to client needs.
Franklin Templeton Solutions manages retirement target and global asset
allocation portfolios. An integrated global investment platform, Franklin
Templeton Solutions has assembled a team of over 80 dedicated professional
globally and has more than 25 years of experience managing multi-asset and
multi-style portfolios, with over $39 billion in assets under management as of
December 31, 2016.
About Franklin Templeton Investments
Franklin Resources, Inc. (NYSE:BEN) is a global investment management
organization operating as Franklin Templeton Investments. Franklin Templeton
Investments provides global and domestic investment management to retail,
institutional and sovereign wealth clients in over 170 countries. Through
specialized teams, the company has expertise across all asset classes—including
equity, fixed income, alternative and custom solutions. The company’s more than
650 investment professionals are supported by its integrated, worldwide team of
risk management professionals and global trading desk network. With offices in
over 30 countries, the California-based company has 70 years of investment
experience and approximately $720 billion in assets under management as of
December 31, 2016. For more information, please visit
Franklin Resources, Inc.
Investor Relations: Brian Sevilla (650) 312-4091
Media Relations: Craig Allen (212) 632-4238, Matt Walsh (650) 312-2245
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Source: Franklin Resources, Inc.