Stamford’s O”™Shaughnessy Asset Management LLC has been acquired by Franklin Templeton, a global investment management organization, for an undisclosed sum.
O”™Shaugnessy was founded in 1996 as a quantitative asset management firm that delivers equity portfolios to institutional investors, individual investors, and the high-net-worth clients of financial advisors. It also serves as the investment advisor for a U.S. mutual fund and as a sub-advisor to a family of mutual funds in Canada. The company was an early leader in the factor-based investing strategy.
O”™Shaughnessy”™s workforce of more than 40 employees will join the Franklin Templeton Product Solutions group.
Patrick O”™Shaughnessy, the company”™s CEO, welcomed the acquisition as a means of expanding his company”™s flagship Canvas platform for separately managed accounts. Canvas was launched in late 2019 and represents $1.8 billion of the firm”™s $6.4 billion in assets under management.
“We”™re excited by the incredible potential this acquisition creates and look forward to getting started,” said O”™Shaughnessy.
