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&#39McOik&#39 makes its debut from Templeton

A new investment product dubbed "the McOik" is being launched on April 16. The first open-ended investment company North of the border has been given the nickname by its creator Templeton Investment Management in Edinburgh.

It will be officially named Templeton Funds and absorb three existing unit trusts – Templeton global growth, Templeton value and Templeton global balanced. It will have £49m in funds under management.

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