Legendary fund manager passes on

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Thursday, July 10th 2008, 6:40AM

Legendary fund manager Sir John Templeton has died from pneumonia aged 95. He built a reputation around his fund management with is his Templeton growth fund returning an average of 16% annually from launch in 1954 until his retirement in 1992.

After he retired the firm was sold to Franklin Resources for US$440m.

Templeton was a true value manager, basing his style on heavy research in the search for shares that were temporarily selling below their true asset value.

Templeton was one of the pioneers to invest in post-war Japan in the 1960s.

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