John Templeton, a pioneering mutual fund manager, global investor and philanthropist, died of pneumonia in a hospital in the Bahamas, a spokeswoman at his foundation said on Tuesday. He was 95.
Starting his career on Wall Street in 1937, Templeton went on to create several successful international funds, before selling the Templeton Funds in 1992 to Franklin Resources in 1992 for $440 million.
In 1954 Templeton set up the Templeton Growth Fund, one of the first mutual funds that invested globally.
Pamela Thompson, spokeswoman at the John Templeton Foundation, said he died in a hospital in Nassau.
Templeton contributed a sizable amount of his fortune to his foundation. He was knighted by Britain's Queen Elizabeth in 1987 for his philanthropic accomplishments.
source:Reuters
Fund industry legend John Templeton dies at 95:
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