Woori Asset Management Acquires Templeton Asset Management's Fund Business Division

[Asia Economy Reporter Kim Jin-ho] Woori Asset Management, a subsidiary of Woori Financial Group, announced on the 14th that it held a board meeting on the 13th and decided to acquire the collective investment business division of Franklin Templeton Investment Trust Management (hereinafter Templeton Management) through a spin-off merger.

The collective investment business division of Templeton Management operates 15 overseas and 7 domestic public funds (based on the parent fund as of the end of April), with a fund size of approximately 220 billion KRW. After the merger, Templeton Management's overseas funds will continue to be managed through Franklin Templeton's parent funds or delegated management, while domestic funds will be directly managed by Woori Asset Management.

Taking this acquisition as an opportunity, Woori Asset Management plans to continue collaborating on the domestic establishment and management of overseas funds set up offshore by Franklin Templeton and its affiliate Legg Mason. A Woori Asset Management official stated, "This spin-off merger is expected to serve as a catalyst to proactively offer a wider variety of overseas products to domestic investors and to intensify collaboration with global asset management firms."

Meanwhile, Woori Asset Management will soon proceed with the approval process for the spin-off merger from financial authorities. Once approval is completed, the spin-off merger and fund transfer procedures will be carried out.

This content was produced with the assistance of AI translation services.