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Franklin Templeton filed a proxy statement with the SEC late Friday to take over the management of four fixed-income funds run by HSBC Global Asset Management, according to the filing.
Franklin Templeton spokesman Bill Weeks declined to disclose the terms of the deal.
HSBC is unloading the funds — which total $110 million in assets — as it exits the U.S. fixed-income market, Mr. Weeks said. HSBC will continue to offer money market funds.
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