San Mateo, Calif.-based Franklin Resources announced today that it has entered into an agreement to buy Legg Mason for $4.5 billion in cash, creating a $1.5 trillion asset manager. The deal is expected to close in the third quarter of 2020, pending approval from regulators and other parties.
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FKUTX’s performance objective and investment process is for both security selection and portfolio construction.
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