TORONTO, June 17, 2019 /CNW/ - Franklin Templeton Canada today announced it will be making changes to its Franklin Bissett fixed income funds, including fee reductions, series terminations and a name change.
"Many Canadians are looking for fixed income investments, which can provide stability in their portfolios, especially during market volatility," said Duane Green, president and CEO of Franklin Templeton Canada. "Managed by Franklin Bissett's fixed income team in Calgary, these funds provide investors with active management of fixed income investments, now with lower fees."
Fee reductions
As detailed in the table below, fees for series A, F, PA and PF will be reduced on July 8, 2019, and fees for series O will be reduced on July 1, 2019.
CURRENT |
NEW |
||||||||
Fund Name |
Series |
Mgmt. Fee |
Admin. Fee |
Total |
Mgmt. Fee |
Admin. Fee |
Total |
||
Franklin Bissett |
A |
1.05% |
0.10% |
1.15% |
1.00% |
0.10% |
1.10% |
||
F |
0.55% |
0.10% |
0.65% |
0.50% |
0.10% |
0.60% |
|||
Franklin Bissett |
F |
0.50% |
0.10% |
0.60% |
0.35% |
0.10% |
0.45% |
||
Franklin Bissett Short |
A |
1.00% |
0.15% |
1.15% |
0.85% |
0.10% |
0.95% |
||
F |
0.50% |
0.15% |
0.65% |
0.35% |
0.10% |
0.45% |
|||
PA |
0.90% |
0.10% |
1.00% |
0.85% |
0.10% |
0.95% |
|||
PF |
0.40% |
0.10% |
0.50% |
0.35% |
0.10% |
0.45% |
|||
O* |
0.50% |
- - - |
0.50% 0.40% 0.30% |
0.45% |
- - - |
0.45% 0.40% 0.30% |
|||
Franklin Bissett |
A |
1.15% |
0.15% |
1.30% |
1.00% |
0.10% |
1.10% |
||
F |
0.65% |
0.15% |
0.80% |
0.50% |
0.10% |
0.60% |
|||
Franklin Bissett Core |
A |
1.10% |
0.15% |
1.25% |
1.00% |
0.10% |
1.10% |
||
F**** |
0.60% |
0.15% |
0.73% |
0.50% |
0.10% |
0.60% |
|||
*This tier level is from C$200,000 up to C$2.5 million in investable assets. |
**This tier level is from C$2.5 million up to C$5 million in investable assets. |
***This tier level is for over C$5 million in investable assets. |
**** The current total includes a 0.02% management fee waiver. |
Series changes
For series PA and PF of the Franklin Bissett fixed income funds detailed in the table above, the following changes will occur:
- Closed to new investments and final automatic switches, effective July 5, 2019
- Closed to all existing investments, effective September 27, 2019
- Termination of series PA and PF with automatic switches into series A and F, respectively, effective October 4, 2019. Existing low load funds, deferred sales charge schedules and systematic plans will also carry over.
Name change
As of June 10, 2019, Franklin Bissett Canadian Short Term Bond Fund has been renamed Franklin Bissett Short Duration Bond Fund. This represents a change in name only and not to the fund's investment objectives, strategies or portfolio management team.
Franklin Bissett Short Duration Bond Fund will continue to seek high current income and preservation of capital by investing primarily in Canadian fixed-income securities including Canadian federal and provincial government bonds, corporate bonds, debentures and short-term notes.
The Franklin Bissett fixed income funds are managed by the Franklin Bissett fixed income team, which provides investors with Canadian fixed income expertise, grounded in a global perspective. The team focuses on Canada with potential for enhanced returns through global diversification, managing multi-sector, credit and duration-targeted strategies. The group manages over US$6 billion in fixed income assets as of March 31, 2019.
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 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, alternatives and custom multi-asset 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 employees in over 30 countries, the California based company has more than 70 years of investment experience and over US$695 billion (C$939 billion) in assets under management as of May 31, 2019. For more information, please visit franklintempleton.ca.
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Copyright © 2019. Franklin Templeton. All rights reserved.
SOURCE Franklin Templeton Investments Corp.
Media Contact: Sarah Kingdon, Corporate Communications, Franklin Templeton, 416.957.6191, [email protected]
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