Franklin Templeton has launched a Luxembourg-based fund investing in innovative businesses.
The Franklin Innovation Fund is managed by California-based portfolio manager Matthew J Moberg from the firm’s equity group.
Moberg said: “Innovation is often mispriced – it is adopted faster than expected and frequently has long-lasting effects. We believe, we are experiencing a new Industrial Revolution in which disruptive technologies, innovative processes and new modes of communication are proliferating.”
According to the US firm, the fund will invest across industries and sectors in firms with pioneering technologies, superior management, and which benefit from new industry conditions.
“We view today as similar to a period in the late 1800s, when the telegram, electricity, indoor plumbing, photographs and the internal combustion engine re-made the world we live in. It was a period of tremendous wealth creation if you were on the right side of that innovation,” Moberg said.
The fund is expected to focus its principal geographic exposure on the US market.
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