Franklin Templeton shutters $2 billion fund after executive steps down amid SEC probe

Franklin Templeton News

Franklin Templeton shutters $2 billion fund after executive steps down amid SEC probe
Western AssetWestern Asset ManagementMichael Buchanan
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Franklin Templeton announced on Wednesday that it will shutter a $2 billion fund and that Michael Buchanan will become sole chief investment officer of...

NEW YORK - Franklin Templeton announced on Wednesday that it will shutter a $2 billion fund and that Michael Buchanan will become sole chief investment officer of wholly owned subsidiary Western Asset Management.

Franklin Templeton said it will also shutter the $2 billion Macro Opportunities strategy fund after Leech stepped down. ‘We were expecting a funeral — we got a Taylor Swift show instead,’ one campaign staffer tells Andrew Feinberg as he reports on the vibe shift at the Democratic National ConventionA six-decade-old tax break intended to help struggling farmers in the Garden State has long been a target of critics who say it's been co-opted by wealthy suburban landowners. Now, there's a push to tighten its loopholes.

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Western Asset Western Asset Management Michael Buchanan Chief Investment Officer Ken Leech Wholly Owned Subsidiary Securities And Exchange Commission Wells Notice

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