Legendary Fund Manager Templeton Dies

Legendary mutual fund manager John Templeton died of pneumonia in the Bahamas early today at the age of 95.

Templeton began his Wall Street career in 1937, and launched his first global mutual fund, Templeton Growth Fund, in 1954. He was an early advocate of international stocks both as an investment opportunity and a diversification play.

In 1992, the firm he built became part of Franklin Templeton Investments(BEN Quote), which is headquartered in San Mateo, Calif., and has offices in 29 countries around the world.

Templeton was born in 1912 in Winchester, Tenn. He graduated from Yale University with honors, and attended Oxford University on a Rhodes scholarship. He became a British subject in 1963. ...