Templeton Asian Growth Corporate Class, managed by emerging markets expert Mark Mobius, was launched Thursday by Franklin Templeton Investments Corp.

The fund will invest in companies across the Asia region, as well as companies positioned to benefit from development in these economies.

“Asia has witnessed a tremendous transformation since we began investing there in 1987. It is now home to some of the fastest growing economies globally,” says Mobius, executive chairman of Templeton Emerging Markets Group and lead manager of Templeton Emerging Markets Fund and Templeton Asian Growth Corporate Class.

“Asia represents an important arena in emerging markets investing. While valuations in this region have indeed increased in recent times, growth and profitability still appear strong, indicating, in our view, strong fundamentals. As bottom-up value investors, we are still able to find attractive stocks on an individual basis in most Asian markets.”

Mobius and co-lead managers Allan Lam, Steve Chae and Jay Choi are supported by Templeton’s emerging markets team of over 40 investment professionals, more than half of whom are based in Asia.

The number of listed companies in Asian emerging markets has grown by 206% over the last 20 years versus 36% in developed countries, Franklin Templeton says.

The objective of the new fund is long-term capital appreciation by investing primarily in equity securities of companies located in Asia, including, but not limited to, Hong Kong, India, Indonesia, Korea, Malaysia, the People’s Republic of China, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam.

The fund can also invest in companies expected to benefit from developments in the economies of the Asia region. Using a blend of growth and value investment styles, the fund will provide diversification across all market capitalization ranges.

The new fund is part of Franklin Templeton’s Corporate Class structure, which allows investors to switch between funds and portfolios while deferring taxable events until they redeem.

IE