Franklin Templeton has been selected as one of the five asset managers in the third batch of the Equity Market Development Programme (EQDP). On September 29, 2026, the Monetary Authority of Singapore (MAS) announced the third batch of EQDP asset managers, allotting $1.45 billion across the five managers, including Franklin Templeton. The latest batch includes France's Amundi, California-based Franklin Templeton, the asset-management arm of British-domiciled lender HSBC, London-based M&G Investments and Natixis Investment Managers, an asset-management firm under France's Groupe BPCE. The funds are part of S$6.5 billion set aside by the MAS under its equity-market development program to boost the local stock market, following an assessment of Singapore's stock market. The new tranche brings the total allocations under the program to S$5.4 billion across 14 asset managers, with other companies previously appointed including BlackRock and Prudential PLC's Eastspring Investments.
Franklin Templeton Mutual Fund has announced changes in the fund management responsibilities of several schemes, effective from October 1, 2026. According to the fund house announcement, the changes involve eight schemes across different categories including arbitrage, hybrid, and liquid funds. These strategic restructuring efforts come as the company navigates the broader shift away from traditional active equity management toward alternative strategies and private markets.
The most significant change affects Mukesh Jain, who will continue as fund manager but will see his role reduced from four schemes to one. Rohan Maru will maintain his position across multiple schemes including Franklin India Arbitrage Fund, Franklin India Conservative Hybrid Fund, and Franklin India Multi Asset Allocation Fund. Pallab Roy will continue managing Franklin India Floating Interest Rates Fund and Franklin India Ultra Short Term Fund, while Rajasa Kakulavarapu will remain on Franklin India Arbitrage Fund and Franklin India Retirement Fund.
Anuj Tagra will join as fund manager for Franklin India Arbitrage Fund, Franklin India Multi Asset Allocation Fund, and Franklin India Overnight Fund. Chandni Gupta will take over Franklin India Liquid Fund and Franklin India Overnight Fund. Rahul Goswami will continue as co-fund manager for Franklin India Conservative Hybrid Fund and Franklin India Income Plus Arbitrage Active FoF, while Rajasa Kakulavarapu will retain his equity fund management role across multiple schemes.
The changes reflect Franklin Templeton's strategic pivot away from traditional active equity management toward higher-fee niches in alternatives and private markets. In the three months to June 30, 2026, Franklin Templeton gathered $18.4 billion in long-term net inflows, with alternatives contributing $9.1 billion, multi-asset strategies adding $4.7 billion, fixed income funds raising $2.6 billion, and equity funds attracting $2.0 billion. The company's alternatives AUM reached a record $294 billion after $11.8 billion of fundraising, including $10.3 billion in private markets, demonstrating the success of this strategic repositioning.
Franklin Templeton's financial metrics show strong performance with operating revenues rising 14% to $2.36 billion and the adjusted operating margin reaching 28.0% against 23.7% a year earlier. The company reported $4.4 billion of net inflows into retail separately managed accounts and $4.1 billion of reinvested distributions. ETF assets reached a record $75.6 billion after $7.1 billion of net inflows, with active ETFs accounting for 61% of those flows. The company's effective fee rate is expected to remain in the mid-to-high 37 basis-point range in the fiscal fourth quarter, reflecting its focus on higher-margin products. The MAS announced it is reviewing proposals for a fourth batch of fund managers and expects to complete this review next year.
