TORONTO, July 8 /CNW/ - Franklin Templeton Investments Corp. today sadly
announced the passing of Sir John Marks Templeton at the age of 95. He
pioneered the principles of "value investing" and was a visionary in
"Sir John Templeton built the investing foundation that we as a company
now proudly stand upon," said Don Reed, president and CEO of Franklin
Templeton Investments Corp. "When the Templeton organization flew me to Nassau
in 1989 and recruited me to run the company in Canada, John Templeton was the
biggest reason I joined. I will miss him greatly."
The investment principles that Templeton founded continue to guide
Franklin Templeton Investments today. Templeton's buy discipline advocated
picking companies at "points of maximum pessimism".
In 1954, Templeton launched the Templeton Growth Fund in Canada. The
value-driven fund was unique for its time, ushering in a new age of
international investing. He believed international equities provided unlimited
investment opportunities and diversification for Canadians' portfolios. The
fund's success was such that for many years the firm's only marketing
presentation was a mountain chart depicting the growing value of an investment
in the fund since its inception.
"Sir John's legacy and strong values will continue to live on, not only
in memory, but in the strength of our organization and our many employees
worldwide," said Greg Johnson, president and CEO of Franklin Resources, Inc.
"We owe him a deep debt of gratitude."
Templeton's passion for investing was directed into philanthropy. In
1987, he founded the John Templeton Foundation that supports numerous research
and educational initiatives involving science and religion. That same year, he
was knighted for his philanthropic accomplishments.
In 1992, the Templeton organization - then a publicly traded company
known as Templeton, Galbraith and Hansberger - was acquired by Franklin
Resources. While Sir John Templeton has not been affiliated with Franklin
Templeton Investments since he retired from the organization in 1996, the
global investment discipline that continues to guide the Templeton funds has
been a crucial factor in the growth of the combined firm since the merger.
Charlie Johnson, chairman of Franklin Resources, Inc., commented, "Even
at our first in-person meeting in 1992, when we discussed the potential merger
between our companies, I quickly realized that John was a man of principle,
determination, intelligence and wisdom. His brilliance as an investor was
second to none."
Franklin Templeton Investments Corp. is a wholly owned subsidiary of
Franklin Resources, Inc., a global investment organization operating as
Franklin Templeton Investments. In Canada, Franklin Templeton Investments
provides global and domestic investment advisory services to the Franklin,
Templeton, Bissett and Mutual Series funds, and institutional accounts.
Franklin Templeton Investments Corp. has more than 700 employees providing
services to more than 1.2 million unitholder accounts and more than
200 pension funds, foundations and other institutional investors. Franklin
Templeton Investments Corp. can be found at www.franklintempleton.ca.
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 solutions
managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and
Bissett investment teams. The San Mateo, CA-based company has more than
60 years of investment experience and approximately US $623 billion
(C $619 billion) in assets under management as of May 31, 2008.
For further information:
For further information: Media contacts: Sarah Powley, Franklin
Templeton Investments Corp., (416) 957-6191; Keith Damsell, Franklin Templeton
Investments Corp., (416) 957-6099