UPDATE 1-Templeton fund ends reign in Asia as top picks falter

April 28, 2015 8:24 AM

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(Adds asset allocation of fund in fourth paragraph and clarifies that allocations refer to the equity portion in paragraphs 3 and 5) GRAPHIC: Returns and assets: link.reuters.com/tad64w By Muralikumar Anantharaman SINGAPORE, April 28 (Reuters) - Templeton Asian Growth fund, managed by star stock picker Mark Mobius, ended its six-year reign as the biggest equity fund in Asia ex-Japan after suffering a second straight quarter of investor withdrawals and underperforming its benchmark.

Asia-focused funds have broadly shrunk in the past year due to concerns about capital outflows in the run-up to higher U.S. interest rates. In the case of Templeton Asian Growth fund, investors yanked out a net $500 million in January-to-March for the second straight quarter. The fund shrank to $11....

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