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.
The portfolio managers of the fund are David Saunders and William Douglass, founding managing directors of K2 Advisors. The fund’s fees were not disclosed in the filing.
A spokesman for Franklin declined to provide further comment on the fund’s impending launch.