TORONTO, Nov. 26, 2020 /CNW/ - Franklin Templeton
Canada today announced that it will terminate Franklin K2
Alternatives Fund, which is offered to Canadian retail investors,
on or around February 5, 2021. As of
the close of business today, November 26,
2020, the fund will cease offering units for purchase to new
and current investors.
This announcement does not impact Franklin K2 Multi-Strategy
Alternatives Fund, a private pooled fund, which remains available
for Canadian accredited investors.
Impacted Franklin K2 Alternatives Fund 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 February 4, 2021. Franklin Templeton's client service team is
also available to assist at 1-800-387-0830
or service@franklintempleton.ca.
At the close of business on February 5,
2021, any remaining investors who hold Franklin K2
Alternatives Fund in client name registered accounts will have
their investments switched into Franklin Bissett Money Market Fund,
and those who hold the fund in all other accounts will have their
investments liquidated at fair market value.
Investors will not be required to pay any redemption fees, sales
charges or other fees associated with the termination of the fund.
All costs and expenses associated with the termination of the fund
will be borne by Franklin Templeton
Canada.
Franklin Templeton Canada will
provide a notice of fund termination to each investor.
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, multi-asset solutions and alternatives. With offices
in more than 30 countries and approximately 1,300 investment
professionals, the California-based company has over 70 years of
investment experience and approximately US$1.4 trillion (approximately CA$1.9 trillion)
in assets under management as of October 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.
Commissions, trailing commissions, management fees and expenses
all may be associated with mutual fund investments. Please read the
prospectus or fund facts document before investing. Mutual funds
are not guaranteed, their values change frequently and past
performance may not be repeated.
Copyright © 2020. Franklin Templeton. All rights
reserved.
SOURCE Franklin Templeton Investments Corp.