Franklin Templeton Buys $6.4 Billion Money Manager O’Shaughnessy

Franklin Resources Inc. will purchase O’Shaughnessy Asset Management, making it the latest money manager to strike a deal for a customized index business.

With the acquisition, Franklin Templeton, as the asset manager is known, will add O’Shaughnessy’s $6.4 billion in assets under management to the approximately $1.5 trillion it already oversees, according to a statement Thursday from the San Mateo, California-based investment firm. The deal is expected to be completed by the end of this year. Terms weren’t disclosed.