Franklin Templeton's head of portfolio management for global equity is retiring at the end of the year after a 20-year career with the firm.
Cindy Sweeting, director of portfolio management for the Templeton Global Equity group, will officially leave the firm on December 31 2017 and as a result will leave behind six funds, according to Securities and Exchange Commission (SEC) filing.
A Franklin Templeton spokesperson confirmed the contents of the filing and added that Antonio Docal will replace Sweeting as director of the global equity group upon her retirement.
Docal will also be appointed lead manager on the $5 billion Templeton International Equity Series fund. He has been on the fund since 2003 and will manage it alongside Peter Nori and Matthew Nagle , who is joining the manager duo in January 2018.
Upon Sweeting’s departure, the $1.7 billion Templeton Foreign VIP fund will continue to be managed by Nori and will see the addition of Nagle and Heather Waddell in the beginning of 2018, according to the filing.
Sweeting will also leave behind the $2.8 billion American Beacon International Equity fund, $1.5 billion John Hancock II International Value fund and the $821.4 million AXA/Templeton Global Equity Managed Volatility fund.
She started her career at Templeton in 1997 as a research analyst within the global equity group after joining from McDermott International, where she was a portfolio manager and chief investment officer.