Franklin Templeton suffers record outflows as clients abandon troubled western unit

New York | Franklin Templeton is experiencing the worst quarter for capital outflows in its history as reputational damage and weak earnings pulled tens of billions of dollars out of its fixed income business while rivals benefit from falling interest rates.

The group, which manages US$1.7 trillion ($2.6 trillion) in assets, announced in August that the co-chief investment officer of its largest subsidiary had been placed on leave amid an investigation by the Securities and Exchange Commission.

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