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Sir John Templeton passes away

Legendary fund manager Sir John Templeton has died from pneumonia aged 95.

Templeton can boast an exemplary record in fund management, having grown his Templeton growth fund at an average of 16 per cent a year from launch in 1954 until his retirement in 1992 when he sold his fund firm to Franklin Resources for $440m.

His investment style was heavily researched and looked for shares that were temporarily selling below their true asset value – holding on to them for a number of years before selling them on at what he believed was their actual worth.

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

He was also a prominent philanthropist and set up among other things the John Templeton Foundation in 1987.

He died at Doctors Hospital in Nassau, Bahamas. He is survived by two sons from his first marriage.

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