Morningstar puts Franklin under review

Ratings agency Morningstar OBSR has placed the Franklin UK Blue Chip fund under review, shortly after the fund manager, Franklin Templeton, announced a change in strategy for the fund.

According to an analyst note from Morningstar OSBROBSR, the Franklin UK Blue Chip fund, which previously held a Bronze rating, will be placed under review while the changes take place.

On 29 September, Franklin Templeton wrote to investors informing them that it was to rename the fund Franklin UK Rising Dividends, which would reflect its new focus on investing in companies with a strong record of increasing dividend payments, and the changes will take effect from 30 January 2015.

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The fund will also have the flexibility to invest lower down the market-cap spectrum, and the number of holdings will be somewhat reduced.