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.
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SOURCE Franklin Templeton Investments Corp.
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