Franklin Resources (NYSE:BEN)
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6 Months : From Jun 2019 to Dec 2019
Franklin Templeton today announced fee reductions for three Franklin LibertyShares® ETFs available to US investors.
“We are constantly evaluating ways to improve client experiences. I’m excited to announce our latest effort – lower pricing on our large cap equity and emerging market smart beta ETFs as well as our international bond active ETF,” said Patrick O’Connor, global head of ETFs for Franklin Templeton.
As detailed in the chart below, management fee reductions will be made to Franklin LibertyQ U.S. Equity ETF (FLQL) and Franklin LibertyQ Emerging Markets ETF (FLQE). In addition, the fee waiver for Franklin Liberty International Aggregate Bond ETF (FLIA) will be reduced. All reductions are effective August 1, 2019.
|Ticker||Name of Fund||Current Gross Expense RatioAs of July 31, 2019||Current Net Expense Ratio as of July 31, 2019||New Net Expense Ratio as of August 1, 2019|
|FLQL||Franklin LibertyQ U.S. Equity ETF||0.25%||0.25%||0.15%|
|FLIA||Franklin Liberty International Aggregate Bond ETF||0.69%||0.35%||0.25%*|
|FLQE||Franklin LibertyQ Emerging Markets ETF||0.55%||0.55%||0.45%|
*FLIA’s investment manager has contractually agreed to waive or assume certain expenses so that total annual fund operating expenses (including acquired fund fees and expenses, but excluding certain non-routine expenses) for the fund do not exceed 0.25% until July 31, 2020. The new gross expense ratio for FLIA as of August 1, 2019 is 2.32% without these reductions.
Franklin LibertyShares, the firm’s global ETF platform, enables investors to pursue their desired outcomes through a range of active, smart beta and passive ETFs. LibertyShares has more than $4 billion in assets under management globally as of June 30, 2019 and is supported by the strength and resources of one of the world’s largest asset managers. For more information, please visit franklintempleton.com/etfs.
Visit Franklin LibertyShares’ Capital Markets Corner for insights on ETF investing and follow Franklin LibertyShares on Twitter: @libertyshares.
Important Information about the Funds
FLQL, FLIA and FLQEAll investments involve risk, including possible loss of principal. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions. These and other risks are discussed in the funds’ prospectuses.
FLQL and FLQEThere can be no assurance that the funds’ multi-factor stock selection process will enhance performance. Exposure to such investment factors may detract from performance in some market environments, perhaps for extended periods. Performance of the funds may vary significantly from the performance of an index as a result of transaction costs, expenses and other factors.
FLIA and FLQESpecial risks are associated with foreign investing, including currency fluctuations, economic instability and political developments. Investments in developing markets involve heightened risks related to the same factors, in addition to those associated with these markets’ smaller size, lesser liquidity and lack of established legal, political, business and social frameworks to support securities markets.
FLIABond prices generally move in the opposite direction of interest rates. As the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. Changes in the financial strength of a bond issuer or in a bond's credit rating may affect its value. Investing in derivative securities and the use of foreign currency techniques involve special risks as such may not achieve the anticipated benefits and/or may result in losses to the fund. The fund may not achieve the anticipated benefits, and may realize losses when a counterparty fails to perform as promised. Sovereign debt securities are subject to various risks in addition to those relating to debt securities and foreign securities generally, including, but not limited to, the risk that a governmental entity may be unwilling or unable to pay interest and repay principal on its sovereign debt, or otherwise meet its obligations when due because of cash flow problems, insufficient foreign reserves, the relative size of the debt service burden to the economy as a whole, the government's policy towards principal international lenders such as the International Monetary Fund, or the political considerations to which the government may be subject.
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 ETF expenses will reduce returns.
ETF shares may be bought or sold throughout the day at their market price, not their Net Asset Value (NAV), on the exchange on which they are listed. Shares of ETFs are tradable on secondary markets and may trade either at a premium or a discount to their NAV on the secondary market.
Investors should carefully consider a fund’s investment goals, risks, charges and expenses before investing. To obtain a summary prospectus and/or prospectus, which contains this and other information, talk to your financial advisor, call us at (800) DIAL BEN/342-5236 or visit franklintempleton.com. Please carefully read a prospectus before you invest or send money.
About Franklin Templeton
The funds’ principal underwriter is Franklin Templeton Distributors, Inc., a wholly-owned subsidiary of Franklin Resources, Inc. [NYSE:BEN] is a global investment management organization operating as Franklin Templeton. Franklin Templeton’s goal is to deliver better outcomes by providing global and domestic investment management to retail, institutional and sovereign wealth clients in over 170 countries. Through specialized teams, the company has expertise across all asset classes—including equity, fixed income, alternative and custom solutions. The company’s more than 600 investment professionals are supported by its integrated, worldwide team of risk management professionals and global trading desk network. With offices in more than 30 countries, the California-based company has more than 70 years of investment experience and over $715 billion in assets under management as of June 30, 2019. For more information, please visit franklintempleton.com.
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