TORONTO, Sept. 25,
2024 /CNW/ - Franklin Templeton Canada
today announced that it will terminate three funds, Franklin Global
Dividend Quality Index ETF (FLGD), Franklin International
Multifactor Index ETF (FLDM) and Franklin Western Asset Core Plus
Bond Fund, including its ETF series (FWCP), on or
around December 4, 2024.
As of the close of business today, September 25, 2024, no further direct
subscriptions for units of FLGD, FLDM or FWCP will be accepted
by Franklin Templeton Canada. Units of these ETFs will
continue to be listed on the Toronto Stock Exchange (TSX) until
voluntary delisting occurs at the close of business on or
around November 29, 2024.
Franklin Templeton Canada will sell and convert the ETFs to
cash on or around November 25, 2024,
and the remaining assets—after paying or providing for the ETFs'
liabilities and obligations—will be distributed in cash to the
ETFs' unitholders on a pro-rata basis on or around December 5, 2024. Unitholders will have the
opportunity to sell or redeem their units ahead of the close of
business on November 29, 2024, before the voluntary delisting
occurs.
As of the close of business today, September
25, 2024, Series A, F and O of Franklin Western Asset Core
Plus Bond Fund will cease offering units for purchase to new and
current investors. Impacted investors who prefer to switch into
another Franklin Templeton fund or
redeem their investments ahead of the fund's termination date are
advised to work with their financial advisor to submit their
instructions on or before December 3,
2024. Franklin Templeton's
client service team is also available to assist, please contact
them at 1-800-387-0830.
As of the close of business on December 4,
2024, any remaining investors who hold Series A, F or O of
Franklin Western Asset Core Plus Bond Fund in registered accounts
will have their investments switched into the corresponding series
of Franklin Canadian Money Market Fund. Investors who hold the fund
in all other accounts will have their investments liquidated at
fair market value and Franklin Templeton
Canada will send the proceeds to the investor or their
dealer.
Franklin Templeton Canada regularly
conducts a review of its fund lineup and has decided to terminate
these three funds.
Franklin Templeton Canada will
provide a notice of fund termination to investors at least 60 days
prior to the effective date of the terminations. Investors will not
be required to pay any redemption fees, sales charges or other fees
associated with the termination of the funds as these costs and
expenses will be borne by Franklin
Templeton Canada.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating
as Franklin Templeton and serving clients in over 150
countries. In Canada, the company's subsidiary is Franklin
Templeton Investments Corp., which operates as Franklin
Templeton Canada. Franklin Templeton's mission is to help
clients achieve better outcomes through investment management
expertise, wealth management and technology solutions. Through its
specialist investment managers, the company offers specialization
on a global scale, bringing extensive capabilities in fixed income,
equity, alternatives and multi-asset solutions. With more than
1,500 investment professionals, and offices in major financial
markets around the world, the California-based company has
over 75 years of investment experience and over US$1.6
trillion (over CDN$2.2 trillion)
in assets under management as of August
31, 2024. For more information, please
visit franklintempleton.ca and connect with Franklin Templeton on LinkedIn, X and
Facebook.
Commissions, management fees and expenses all may be associated
with investments in mutual funds and ETFs. Investors should
carefully consider a mutual fund and ETF's investment objectives
and strategies, risks, fees and expenses before investing. The
prospectus and fund/ETF facts contain this and other information.
Please read the prospectus and fund/ETF facts carefully before
investing. ETFs trade like stocks, fluctuate in market value and
may trade at prices above or below the ETF's net asset value.
Brokerage commissions and mutual fund and ETF expenses will reduce
returns. Mutual funds and ETFs are not guaranteed, their values
change frequently and past performance may not be repeated.
Copyright © 2024. Franklin Templeton. All rights
reserved.
SOURCE Franklin Templeton Investments Corp.