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  • edited February 2020
    Look like a done deal. Got an email this morning:

    "Legg Mason, the majority owner of Royce Investment Partners, to be acquired by Franklin Templeton

    "Transaction Structured to Ensure Continued Autonomy of Royce Organization
    New York, NY February 18, 2020 – Royce Investment Partners, a small-cap equity specialist for more than 45 years, announced that its parent company, Legg Mason, is being acquired by Franklin Templeton, a global investment management organization. Royce Investment Partners will continue to operate as an independent investment organization with its own brand to reinforce the distinctiveness of Royce’s investment culture and processes. There are no changes planned to the management of the organization or investment teams as a result of this transaction."

    Well, I've had a good nearly-20-year run with RYPNX. It was a good performer if not particularly tax efficient, and their shareholder communications were always interesting.

    I was a reluctant participant in an employer's overpriced underperforming Franklin 401k once and Franklin's on my list of hated fund companies. But I'm not tempted to bail out right away as long as their fees don't go any higher, and current management sticks around.
  • edited February 2020
    A later headline - Franklin Buys Legg Mason in Effort to Survive Passive Era

    Good luck to the affected investors. I remember when my workplace 403-B withTempleton became part of the Franklin group. IMHO - the former Templeton funds lost something in the process. One benefit, however, was that Franklin picked up Mutual Shares around the same time and it did open up additional interesting opportunities.

    More recently, my small stake in Oppenheimer (started in the 90s) became part of Invesco. Both have / had higher fees, but my sense is that Invesco’s are a bit more moderate. Not a pleasant experience to go through, as at least 2 of the Oppenheimer funds I’d used previously are being merged into Invesco funds or eliminated: OUSGX, OQGAX.
  • edited February 2020
    Post withdrawn by poster. "Never mind."
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