TORONTO, Aug. 20, 2020 /CNW/ - Franklin Templeton
Canada today announced fee reductions and proposed changes to
certain funds to ensure its product line-up remains competitive and
positioned to meet the evolving needs of Canadian investors.
Fee Reductions
Detailed in the table below, the following fee reductions for
series A, F and T of Franklin Global Growth Fund and Franklin
Global Growth Corporate Class are being implemented on
October 1, 2020. These funds seek to
provide Canadians with long-term capital appreciation by investing
primarily in equity securities of growth companies, with any market
size capitalization, located anywhere in the world.
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NEW
FEES
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FEE
SAVINGS
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Series
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Management
Fee
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Fixed
Administration
Fee
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Total
Fees
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Total
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A
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1.80%
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0.15%
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1.95%
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-0.27
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F
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0.80%
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0.15%
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0.95%
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-0.27
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T
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1.80%
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0.15%
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1.95%
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-0.27
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With these fee reductions, all investors will have access to the
lowest fee in the series. As a result, Series PA, PF and PT of
Franklin Global Growth Fund will be closed to new investors after
the close of business on September 30,
2020 and will be closed to new investments after the close
of business on December 3, 2020.
Fund Mergers
Each terminating fund in the table below is proposed to merge
into the corresponding continuing fund on a tax-deferred basis.
Each continuing fund has an investment objective and investment
strategies that are substantially similar and an identical fee
structure as its respective terminating fund.
Except as noted otherwise, each terminating fund:
- will be closed to new investors after the close of business
today, August 20, 2020;
- is a class of shares of Franklin Templeton Corporate Class Ltd.
and is proposed to merge by a Plan of Arrangement or
otherwise;
- will be merged on or around November 20,
2020, pending the receipt of all necessary approvals; and if
not merged, will be closed to all new investments or will be
terminated on or around November 13,
2020.
Terminating
Fund
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Continuing
Fund
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Franklin ActiveQuant
U.S. Corporate Class
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Franklin ActiveQuant
U.S. Fund
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Franklin Bissett
Canadian Balanced Corporate Class
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Franklin Bissett
Canadian Balanced Fund
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Franklin Bissett
Canadian Equity Corporate Class1
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Franklin Bissett
Canadian Equity Fund
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Franklin Bissett
Dividend Income Corporate Class
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Franklin Bissett
Dividend Income Fund
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Franklin Bissett
Money Market Corporate Class
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Franklin Bissett
Money Market Fund
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Franklin Global
Growth Corporate Class2
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Franklin Global
Growth Fund2
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Franklin Mutual
Global Discovery Corporate Class
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Franklin Mutual
Global Discovery Fund3
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Franklin Quotential
Balanced Growth Corporate Class Portfolio
|
Franklin Quotential
Balanced Growth Portfolio
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Franklin Quotential
Balanced Income Corporate Class Portfolio
|
Franklin Quotential
Balanced Income Portfolio
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Franklin Quotential
Diversified Equity Corporate Class Portfolio
|
Franklin Quotential
Diversified Equity Portfolio
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Franklin Quotential
Diversified Income Corporate Class Portfolio
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Franklin Quotential
Diversified Income Portfolio3
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Franklin Quotential
Growth Corporate Class Portfolio
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Franklin Quotential
Growth Portfolio
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Franklin U.S. Monthly
Income Corporate Class
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Franklin U.S. Monthly
Income Fund3
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Franklin U.S. Monthly
Income Hedged Corporate Class4 5 6
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Franklin U.S.
Opportunities Corporate Class
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Franklin U.S.
Opportunities Fund
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Franklin U.S. Rising
Dividends Corporate Class4
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Franklin U.S. Rising
Dividends Fund
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Franklin U.S. Rising
Dividends Hedged Corporate Class5
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Templeton EAFE
Developed Markets Fund7 8
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Templeton
International Stock Fund II9
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Templeton Emerging
Markets Corporate Class
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Templeton Emerging
Markets Fund
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Templeton Global
Smaller Companies Corporate Class
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Templeton Global
Smaller Companies Fund3
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Templeton Growth
Fund, Ltd.6 8 10
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Templeton Growth
Fund11
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Templeton Growth
Corporate Class6 12
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Templeton
International Stock Corporate Class4
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Templeton
International Stock Fund II9
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1
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Series OT, PT and T
of this fund will be closed to new investments after the close of
business today, August 20, 2020 and terminated on or around
November 6, 2020.
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2
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The fees on Series A,
F and T of this fund will be reduced effective October 1,
2020.
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3
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Instead of merging
the terminating fund into the continuing fund, Franklin Templeton
may merge the terminating fund into Franklin Mutual Global
Discovery Fund II, Franklin Quotential Diversified Income Portfolio
II, Franklin U.S. Monthly Income Fund II or Templeton Global
Smaller Companies Fund II, each a new trust fund with an investment
objective and investment strategies that are substantially similar
and an identical fee structure as the continuing fund. This action
will only be taken if, in Franklin Templeton's judgment, the
participation of the continuing fund in a tax-deferred merger would
cause unused tax losses to be extinguished within that fund, which
would not be in the best interests of investors in the continuing
fund. After the merger, these new trust funds will be closed to new
investments. This will be included in the information package sent
to each investor of these terminating funds.
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4
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Series I of this fund
will be closed to new investments after the close of
business today, August 20, 2020 and terminated on or around
November 6, 2020.
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5
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Investors in this
fund will receive units of the corresponding hedged series of the
continuing fund, in order to maintain their currency-hedged
exposure to U.S. equities.
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6
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This fund is not
closed to new investors in advance of the merger.
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7
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This fund's merger is
not subject to the approval of investors.
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8
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This fund is not a
class of shares of Franklin Templeton Corporate Class Ltd., and its
merger will not be effected by a Plan of Arrangement.
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9
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This fund is a new
fund with an investment objective and investment strategies that
are substantially similar and an identical fee structure as
Templeton International Stock Fund. This fund will be closed to new
investments after the merger.
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10
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This
fund's merger will occur on or around November 13, 2020. If
the merger is not approved, it will be closed to new investments on
or around November 13, 2020.
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11
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This fund is a new
fund with an investment objective and investment strategies that
are substantially similar and an identical fee structure as
Templeton Growth Fund, Ltd. Templeton Growth Fund is a new trust
fund that will be available for purchase on or around November 13,
2020.
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12
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Investors in series A
and PA of this fund will receive units of series AG and PAG,
respectively, of the continuing fund. These series will be closed
to new investments after the merger.
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The Independent Review Committee of the funds has reviewed and
approved each of these mergers.
Except as noted otherwise, investors in each terminating fund
will be asked to approve its merger at special meetings to be held
on or around October 30, 2020. In
advance of these meetings, documents with full details of the
proposed mergers will be available on Franklin Templeton's website. Due to the
pandemic, we strongly encourage investors to exercise their right
to vote before the proxy deadline as attendance at these in-person
meetings will be limited in order to comply with social distancing
protocols.
Fund Terminations
Franklin ActiveQuant Canadian Corporate Class and Franklin
Bissett Canadian Dividend Corporate Class will be closed to new
investments after the close of business today, August 20, 2020 and terminated on or around
November 6, 2020. Investors in these
funds who would like to continue to access these strategies can
switch into Franklin ActiveQuant Canadian Fund and Franklin
Bissett Canadian Dividend Fund, respectively.
Investors are encouraged to speak to their financial advisor
about these changes. Franklin
Templeton's client service team is also available at
1-800-387-0830 or service@franklintempleton.ca. Please visit
franklintempleton.ca for more information on Franklin Templeton funds.
About Franklin
Templeton
Franklin Templeton Investments Corp. (known as Franklin Templeton Canada) is a subsidiary of
Franklin Resources, Inc. [NYSE:BEN], a global investment management
organization with subsidiaries operating as Franklin Templeton and serving clients in over
165 countries. 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
brings extensive capabilities in equity, fixed income, alternatives
and custom multi-asset solutions. With offices in over 30 countries
and 1,300 investment professionals, the California-based company has more than 70
years of investment experience and approximately US$1.4 trillion (approximately CA$1.9 trillion)
in assets under management as of July 31,
2020. For more information, please visit
franklintempleton.ca and connect with Franklin Templeton on Twitter, Facebook, and
LinkedIn, and read the Beyond Bulls & Bears blog.
Copyright © 2020. Franklin Templeton. All rights
reserved.
SOURCE Franklin Templeton Investments Corp.