Franklin Resources, the parent of Franklin Templeton Investments, is readying its first multi-manager alternative mutual fund almost a year after buying a majority stake in K2 Advisors Holdings, a fund of hedge funds manager, from private equity shop TA Associates.

Specifically, the firm is prepping the Franklin K2 Alternative Strategies Fund to allow retail investors access to hedge-like strategies such as long/short equity, relative value, event driven and global macro, according to a regulatory filing.

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