David Winters has left Franklin Mutual Advisers to start his own firm, Wintergreen Advisers. Winters managed four funds, co-managed one fund and oversaw three other retail products for the firm, a part of Franklin Templeton Investments since 1996, MarketWatch reports.

"It's pretty significant," said Terence Geenty, a Morningstar fund analyst. "He was the guy who pulled a lot of it together."

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