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.
Will FNCFX outperform in future?
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The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FNCFX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the FNCFX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
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