Templeton, which runs a huge fund-management operation from Singapore, had to clear several hurdles just to sell its global fund to Singaporean investors, even though the fund is a collection of smaller funds, many of which are managed in Singapore.

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My office also instituted self-funding revenue from commercial payers to fund our operation instead of relying on public, taxpayer sources.

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It is thought that some of the profits from the operation were being used to fund paramilitary groups in Colombia.

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First, it prevents the SEC from declaring the operation to be a mutual fund in disguise.

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With the new fund, the 40-year-old is growing from a one-man shop to a larger operation by hiring two staffers.

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